Sharp Decline in New Housing Project

“An estimated 17500 residential units were launched by organised developers in the second quarter of 2012 in major cities across the country, registering a decline of nearly 44 per cent over the previous quarter,” states a recently released report by Cushman & Wakefield (C&W).
The report reveals, “This decline in launches can be attributed to a number of factors such as delay in approvals, significant inventory in certain locations as well as postponement of project to coincide new launches with the festival season.”
With around 6,000 units launched during the second quarter, catering to the mid and high-end segments, Pune was among the few cities that saw an increase in number of launches. Mumbai recorded launch of only 9 projects totalling 1,200 units, significantly lower than 4,400 units in the previous quarter.

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