Business Other News 07 Jul 2017 Housing projects in ...

Housing projects in Hyderabad decline

DECCAN CHRONICLE.
Published Jul 7, 2017, 12:43 am IST
Updated Jul 7, 2017, 12:43 am IST
New launches in H1 2017 hit an all-time low of just over 2,500 units.
Compared to H1 2016, new launches were down 55 per cent, and 56 per cent against H2 of last year, the report said
 Compared to H1 2016, new launches were down 55 per cent, and 56 per cent against H2 of last year, the report said

Hyderabad: Property consultant Knight Frank India on Thursday said that the ambiguity surrounding the implementation of Real Estate Regulation Act in Telangana saw the launch of new housing project in Hyderabad fall to an all-time low during the first half of the calendar year.

Knight Frank India, which launched the seventh edition of its India Real Estate  report on Thursday, said that while the sales remained steady but the lack of clarity on the implementation of the Real Estate (Regulation and  Development) Act (RERA), 2016 has emerged as a major factor dampening new launches.

 

New launches in H1 2017 hit an all-time low of just over 2,500 units. Compared to H1 2016, new launches were down 55 per cent, and 56 per cent against H2 of last year, the report said

The report also highlighted that there wasn’t any significant shift towards affordable housing as 80 per cent of the launches in H1 2017 were recorded in the western parts of the city and around 69 per cent of the sales occurring there.

On prices, it said: “Prices have remained muted and are expected to move in the same manner, in the near future.”

 

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