Around 1,62,000 new units were launched across the eight major cities of the country in 2012, and the majority were in the mid-end segment
Residential markets across major cities in India witnessed a drop of approximately 16 per cent in the total number of units launched in the year 2012. Around 1,62,000 new units were launched across the eight major cities. The majority (83 per cent) were in the mid-end segment.
With nearly 54,500 units, NCR constituted a majority (34 per cent) of the total number. Pune recorded the second highest number of fresh launches at 24,000, followed closely by Mumbai (22,500) and Chennai (20,800). Bangalore recorded a drop of 50 per cent in the number of new launches over the previous year.
The mid-end segment saw the highest number of launches of approximately 1,35,700 units, though it was lower by nearly 15 per cent over the previous year. Of the total mid-end housing units launched, NCR saw a total of over 50,000 units mostly concentrated in Gurgaon and Noida. High-end and luxury segment units saw a 24 and 23 per cent decline respectively over the last year. Mumbai witnessed the highest number of luxury unit launches (approximately 1,200) followed by Bangalore and Pune in 2012.