Despite the tough second wave of COVID 19, India launched nearly 1.7 lakh new residential properties in Singapore New Launch Condo its six cities in 2021. Square Yards research provides a complete analysis of residential units launched in the top cities (Gurugram, Noida, MMR, Pune, Bengaluru, and Hyderabad) on a quarterly and zonal basis.

Property is inextricably linked to land. With India’s rising population, numerous residential projects are on the horizon. So, while lockdowns and curfews prevented the general public from leaving their homes, they did not prevent the development of new residential properties in our country’s six largest cities.

From the NCR in the north to the MMR and Pune in the west and Bengaluru and Hyderabad in the south, 2021 saw a new peak in residential property debuts, expanding home-buying choices for all people.

In this blog, we will take a look at how each of the top six cities and their key residential zones performed in terms of the number of new residential units added to the overall inventory in 2021.

This study is based on property listings at new property launches.com, which covers six major Indian cities: MMR, Pune, Gurugram, Noida, Bengaluru, and Hyderabad.

An Overview of Annual Analysis Between Quarters

According to Square Yards analysis, approximately 1.7 lakh residential units will be introduced in the six metropolitan cities of Bengaluru, Noida, Gurugram, Hyderabad, MMR, and Pune in 2021. Given the pandemic’s looming presence, this is a major real estate statistic.

However, when Square Yards research examined this data in quarters, we discovered differences in the number of homes introduced in each of them.

• Q1 sQ2 sQ3 sQ4
• Total 48,628 (27%)
• 29,410 (17%)
• 49,551 (28%)
• 50,383 (28%)
• 1,77,972

While Q1 (27%), Q3 (28%), and Q4 (28%) registered about identical shares of total new residential releases across these six cities in 2021, Q2 unavoidably drew our attention.

The second quarter (Q2) saw the fewest project debuts of the year, accounting for only 17 percent of all new residential launches in 2021. This is hardly an anticipated drop, given that COVID 19 soared to historic levels between April and June of 2021. As a result, lockdowns and curfews prevented not only property searches but also big property debuts.

The extent to which the lockout had harmed the real estate sector became clear in the third and fourth quarters, when the number of project launches rebounded and peaked. With the continuous drop of COVID cases, Q4 2021 accounted for over 30% of total new launches in 2021.

According to new property launches.com’s statistics, Hyderabad (24 percent) and MMR (26 percent) contributed the most to the new residential stock brought to the market in 2021, with over 43,000 and 47,000 new property launches, respectively.

Analysis of New Residential Property Launches in 2021 by City

Let’s take a look at the city-by-city breakdown of new residential property debuts in 2021.

Bengaluru

According to Square Yards data, Bengaluru saw the introduction of around 28,119 new residential units in 2021. This represented 16% of all residential properties launched in India.

Quarterly number of new launches

• Q1 percentage share 7,340 26%
• Q2 s6,331 s23%
• Q3 s7,338 s26%
• Q4 s7,110 s25%

*The total number of new residential properties launched in Bengaluru is 28,119.

A quarterly review of the city’s new project launch figures demonstrated a constant market performance throughout the year. Except for the second quarter, which saw a 3% decrease, all quarters saw about identical numbers of new launches. This demonstrates the city’s housing sector’s resilience in the face of the pandemic and provides hope for a better future.

We determined that East and North Bengaluru had the greatest 37 percent and 35 percent of new residential property launches, respectively, after conducting a thorough regional analysis of East, West, North, and South Bengaluru. West Bengaluru, on the other hand, saw only 6% of new residential property releases.

The significant variation in residential property 

Releases  East North, and West Bengaluru is mostly due to their distinct geographical types. East Bengaluru is a vibrant housing market with one of the city’s most prominent IT clusters, having many amenities, commercial hubs, and a robust network along Sarjapur Road and Whitefield Hoskote Road. As a result, the zone’s sustained housing demand provides a steady supply of new residential projects each year.

Furthermore, North Bengaluru is one of Bengaluru’s fastest-growing zones, with numerous amenities such as Yeshwantpur Metro Station and Police Station, IISc Medical Centre, Indian Institute of Science, and so on. The easier availability of land parcels has also meant that developer interest in the zone has remained consistent over the years.

West Bengaluru, on the other hand, is a manufacturing centre. As a result, despite the fact that the neighbourhood is well-served by schools, hospitals, and offices, there is little room for residential development.

Noida

Noida, a National Capital Region (NCR), contributed 5% of new residential property debuts in 2021. More than 9,000 new residential units were launched in the city, spread over five key zones: Noida Expressway, Noida Central, Yamuna Expressway, and Noida Extension.

Quarterly number of new launches

• Percentage Share sQ1 s2,716 s28%
• Q2 s2,445 s25%
• Q3 s2,042 s21%
• Q4 s2,476 s26%

*The total number of new residential properties launched in Noida is 9,679

Noida has approximately 28 percent residential property launches in the first quarter of 2021. However, it quickly fell by three percent in the second quarter and by four percent in the third quarter.

Even though it attempted to recover and increased by 4% in the fourth quarter of 2021, it was unable to surpass the 28 percent figure seen in the first quarter of the year.

This can be attributed not only to an increase in COVID 19 cases between April and September, but also to the lockdowns and curfews that were in place at the time, indicating that even if property launches were possible, their further development and timely delivery would have been difficult, effectively eliminating new project marketing prospects.

According to Square Yards analysis, there were very few residential property debuts in Noida Central and Yamuna Expressway during the third and fourth quarters of 2021.

Despite the fact that Noida Extension had roughly 33% of the property launches, Noida Expressway stole the show with the greatest 55% of residential property debuts in 2021, with the number increasing to 5,346.

While developing micro-markets appear to be one of the key drivers of its growth, the expansion of the metro via the Aqua line appears to have fueled housing demand in this location as well.

Gurugram

Although Gurgaon’s quarterly numbers for new residential property releases increased steadily in 2021, its contribution to the total number of units released across the top six cities was a meagre 7%. This is due to the fact that, among the four quarters of2021, only the third quarter had a large number of property debuts.

With 5,046 new residential properties launched in the third quarter of 2021, it accounted for 40% of the city’s yearly residential property debuts. This figure is especially notable because it represents a 32 percent increase from 8 percent in the second quarter of the year.

Quarters Percentage of New Launches Share sQ1 s2,871 s23%

• Q2 s978 s8%
• Q3 s5,046 s40%
• Q4 s3,586 s29%