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Decrease in new launches in 2012

As per a report by Knight Frank (India), in the previous years in the real estate market a 30 % decline of new launches was observed. One of the main reasons for such a decrease is being attributed to higher mortgage rates and lower bank credits. In 2010 and 2011, while the gap between the launch and absorption number of property units was 82,000 and 94,000, in the year 2012, it reduced to a mere 32,000 units.

 

Despite this, maximum residential sales were observed in NCR with the highest absorption of 37%. This was followed by Mumbai, Bangalore, Pune, Chennai and Hyderabad with 23%, 13%, 11%, 9% and 7% respectively.

 

Some prominent launches in NCR in 2012 included Greenopolis by 3C and Orris, Mapsko Mountville, Shubhkamna Monarch by Shubhkamna Advent and Emaar MGF Emmar Gurgaon Greens.

 

Emaar MGF Gurgaon Greens

 

 

There are a number of unsold inventories, which have to be sold. Many investors tend to consider the launch phase, as one of the best phases to purchase property considering that usually at launches of real estate projects, developers offer significant discounts or launch subvention schemes. However, it is expected that this year, only those developers might be able to launch new projects who have either sold a number of inventories or who have strong tie ups with financial institutions or enough capital to sustain the development of their upcoming projects.

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