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INDIA REAL ESTATE — JULY - DECMBER 2017 REPORT

Home launches crash by 41% in 2017, new supply now one-fourth of 2015. Co-working service providers expand footprints, collectively pick up 1.3 Mn sq.ft office space

Knight Frank India presents the eighth edition of its flagship half-yearly report - India Real Estate. The report presents a comprehensive analysis of the residential markets across Mumbai, NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad, Kolkata and office markets across Mumbai, Ahmedabad, NCR, Bengaluru, Pune, Hyderabad, Chennai performance for the period July – December 2017 (H2 2017). 

Residential takeaways

  • Homes launches in 2017 plummeted by staggering 78% from the peak of 2010. Volume of new projects entering the market in the second half of 2017 stood at approximately one-fourth of the supply levels in 2015
  • Launches below the demonetisation-hit H2 2016
  • All cities witness fall in launches YOY, Hyderabad worst hit

Office takeaways

  • New completions increase by 7% in 2017 but not at par with occupiers’ demand. Supply in H2 2017, 13% up YoY
  • Transactions maintain a steady momentum. Technology sector headwinds and supply crunch responsible for subdued growth
  • Major cites record robust transactions, Bengaluru maintains its lead