More Indians are purchasing newly-launched homes post-COVID businesstoday.in
The ever-increasing dominance of branded developers in India’s residential real estate market is shifting homebuyers’ attention from ready-to-move or almost-complete projects to newly launched projects. While in the decade leading up to 2020, Indians were preferring ready-to-move homes due to repeated incidences of project delays and realtors going bankrupt, in the current decade more number of buyers are booking homes at the launch of the respective projects.
Latest data from Anarock Research shows that over 40% of approximately 4.77 lakh homes sold in 2023 was from newly launched projects. The share of sales from newly launched supply in the pre-pandemic year of 2019 was much lower at 26%, when some 2.61 lakh homes were sold.
