- Although the supply of new launches in the residential sector moderated to 1,23,000 units in Q2 FY24, it is expected to pick up in Q3 FY24 amidst the festive season cheer.
Mumbai, Bengaluru and Pune recorded the highest new launches in the residential sector at 24,000 and 14,000 units respectively.
Within the commercial sector, new supply grew 7% on-quarter across tier-1 cities owing to government incentives and policies aimed at enticing businesses to set up offices in these cities.
- Net occupancy in commercial real estate in Q2 FY24 was highest in Hyderabad at 2.76 million square ft, followed by Bengaluru and MMR at 2.56 and 1.8 million square ft respectively.
Absorption ratio* in residential sector in Q2 FY24 was highest in Bengaluru at 27%, followed by Gurugram and Pune at 26% and 25% respectively.
Cost of construction increased by 0.3% on-year during Q2 FY24, compared to a contraction of 1.4% the previous quarter.
TruQuest is knowledge series launched by TruBoard Partners providing succinct updates and views on:
- Liquidity outlook
- India’s macro economic view
- Trends within the infrastructure, Real Estate and Renewable Energy sectors
- Impact analysis of new regulations and policies on lending and capital flow
Disclaimer
The data and analysis covered in this report of TruQuest has been compiled by TruBoard Pvt Ltd and its associates (TruBoard) based upon information available to the public and sources believed to be reliable. Though utmost care has been taken to ensure its accuracy, no representation or warranty, express or implied is made that it is accurate or complete. TruBoard has reviewed the data, so far as it includes current or historical information which is believed to be reliable, although its accuracy and completeness cannot be guaranteed. Information in certain instances consists of compilations and/or estimates representing TruBoard’s opinion based on statistical procedures, as TruBoard deems appropriate. Sources of information are not always under the control of TruBoard. TruBoard accepts no liability and will not be liable for any loss of damage arising directly or indirectly (including special, incidental, consequential, punitive or exemplary) from use of this data, howsoever arising, and including any loss, damage or expense arising from, but not limited to any defect, error, imperfection, fault, mistake or inaccuracy with this document, its content.