Over 42 per cent of approx. 4.60 lakh homes sold in 2024 were in newly launched projects, as per the latest ANAROCK data. A significant increase from pre-pandemic 2019's sales share of 26 per cent of approx. 2.61 lakh homes sold then.
In recent years, the real estate market in India's top 7 cities has consistently increased the share of new launches. In 2020, approximately 1.38 lakh units were sold, with 28 per cent of these being new launches. The following year, 2021, saw a significant increase, with new launches making up 34 per cent of the total 2.37 lakh units sold. This trend continued into 2022, as 36 per cent of the approximately 3.65 lakh units sold were new launches. In 2023, the percentage increased to 40 per cent. New launches accounted for a significant portion of the 4.77 lakh units sold, reflecting a growing demand for newly built properties in these cities.
At 53 per cent each, Bengaluru and Chennai saw the highest share of new supply absorption in 2024 – of approx. 65,230 units sold in Bengaluru in 2024, about 53 per cent were launched that year; similarly, in Chennai, 53 per cent of approx. 19,220 units sold in 2024 were launched that year. Over 44 per cent or approx. 61,900 units sold in NCR in 2024 were launched in the same year.
Kolkata had the lowest share of fresh supply absorption at 31 per cent of approx. 18,330 units sold in 2024. That said, this figure was even lower in 2019 when just 23 per cent of the 13,930 units sold that year were new launches.
In MMR, 1,55,334 units were sold in 2024, approx. 36 per cent were fresh launches. In 2019, of 80,870 units sold, 23 per cent were new units.
In NCR, of 61,902 units sold in 2024, approx. 44 per cent were launched in the same year. In 2019, of 46,920 units sold, just 22 per cent was in projects launched that year.
In Chennai, of 19,221 units sold in 2024, newly launched units accounted for a whopping 53 per cent share - up from 28 per cent of 11,820 units in 2019.
In Kolkata, of 18,334 units sold in 2024, about 31 per cent were launched that year. In 2019, 23 per cent of approx. 13,930 sold units were newly launched.
In Bengaluru, of 65,226 units sold in 2024, the sale share of newly launched units was 53 per cent - up from 27 per cent of 50,450 units in 2019.
In Pune, of 81,088 units sold in 2024, 42 per cent was in projects launched in that year - up from 34 per cent of 40,790 units in 2019.
In Hyderabad, 43 per cent of approx. 58,540 sold units were launched in the same year - significantly up from 28 per cent of approx. 16,590 units in 2019.
