Luxury housing rebounds in India with almost three times more launches after two years

• As many as 16,100 new units in the luxury housing segment have been launched in India.
  
• These include launches in top cities including Bangalore, Hyderabad, Pune, Mumbai Metropolitan Region(MMR) and the National Capital Region (NCR).
  
• Most of these were launched in the range of ₹ 1.5 Crore to ₹2.5 Crore at 9,940 units.
  
• The housing sales in 2018 increased by 15% in the west and 20% in the southern cities in India with new launches up by 77%.

Indian builders are betting on the rich, even when things are not going. Since demonetisation, the luxury housing supply has more than tripled.

As many as new 16,100 luxury housing units since 2017 in cities like Bangalore, Hyderabad, Pune, Mumbai Metropolitan Region (MMR) and the National Capital Region (NCR), according to ANAROCK Property Consultants. Such homes start at ₹1.5 crore and can go over ₹2.5 crore.

This is a significant upsurge in new supplies, as compared to 5,240 units 2017. In 2018, the supply increased by 40% at 7,350 units.

What is surprising is that 46,200 luxury homes still unsold which cost anywhere between of ₹1.5 to ₹2.5 crore.

Yet, builders believe that the market has a lot of juice. In 2019, as many as 9,940 units have been launched. Bangalore and Hyderabad launched 1,970 ultra-luxury units which cost ₹2.5 crore and above.

Even as the Indian housing sales are rebounding from their three year lull, the most homes which are being sold are in the affordable range, according to Anarock.

The housing sales in 2018 increased by 15% in the west and 20% in the southern cities in India with new launches up by 77%.