If you are also preparing to buy a new house, then there is good news for you. Many projects are going to be launched in the coming days. This will provide more options and convenience to home buyers to find the home of their choice. Such things are being told in various reports related to the world of real estate.
In fact, in view of the ongoing boom in the property market, especially in the housing sector, real estate companies are keeping most of the land with them for housing projects. Land acquired by developers in the last 15 months is being put into the housing pipeline.
This has raised hopes
According to JLL India data, between January 2022 and May 2023, a total of 2,181 acres of land has been transacted. Out of this, 1,822 acres i.e. about 84 per cent of the land has been allotted for the proposed residential project. This shows that the developers have high expectations regarding the housing project. Due to this, the launch of new houses is likely to pick up in the second half of the year 2023 i.e. July-December period.
What kind of house will come?
Most of the new launches of houses will be of mid and luxury houses, whose price will usually be above Rs 50 lakh. In recent times, both the supply and sales of mid and luxury segment homes have picked up. Due to increase in land cost, labor cost and raw material cost, developers are offering mid and luxury homes to the home buyers. Developers get higher margins in both these segments. This is also a major reason, due to which they are launching more projects in the mid and luxury segments.
Most launched such houses
As per a report by property consultant Anarock, year 2023 In the second quarter i.e. April-June, 1,02,610 houses were launched i.e. came up for sale in 7 major cities of the country. Among these, the share of mid-segment was the highest at 31 per cent. Their price is between 40 to 80 lakh rupees. After this, 27 percent share is of premium segment houses. Whose price ranges from 80 lakh to 1.5 crore rupees. At the same time, the share of luxury houses is 23 percent. Their cost is above one and a half crore rupees.
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