13% Drop expected for the New Housing Supply

The only city where new launches increased by 95% year over year was Delhi NCR. Maximum decline in sales and new product launches in Pune and Hyderabad.According to a survey by real estate data and analytics company PropEquity, the supply of new homes is predicted to decline by 13% in the top nine cities, and sales are predicted to decline by 2% from April to June of last year.Sales are predicted to decline by 2% from 1,21,856 in Q2 2023 to 1,19,901 in Q2 2024, while new dwelling unit launches in the top 9 tier-1 cities are predicted to fall by 13% year over year from 1,11,657 launches in Q2, 2033 to 97,331 in Q2 2024.

According to Samir Jasuja, the chief executive officer and managing director of PropEquity, the quarter ending in March was exceptional, with the best sales and absorption levels ever recorded in India. In terms of supply and absorption/sales, the April–June quarter is often the slowest when compared to other quarters.Additionally, he stated that numerous developers postponed their releases during the election quarter in Q2 2024, which contributed to the supply somewhat declining.