Outlook Business Desk
Newly launched projects accounted for over 42% of the 4.60 lakh homes sold in 2024, up from 26% in 2019, according to Anarock data. This share has steadily grown over the years, rising from 28% in 2020 to 40% in 2023, reflecting homebuyers' increasing preference for new projects.
Chennai recorded the highest supply absorption of new homes in 2024, with 53% of the approximately 19,220 units sold that year being newly launched.
Bengaluru also saw the highest supply absorption of new supply in 2024, with 53% of the 65,226 homes sold in 2024, a significant increase from 27% of the 50,450 units sold in 2019.
In Delhi NCR, around 44% of the 61,902 units sold in 2024 were from newly launched projects. This is a significant increase from 2019, when only 22% of the 46,920 units sold were in newly launched developments.
In Mumbai, about 36% of the 1,55,334 units sold in 2024 were newly launched. This marks a rise from 2019, when only 23% of the 80,870 units sold were new developments.
In Kolkata, around 31% of the 18,334 units sold in 2024 were newly launched, compared to 2019, when 23% of approximately 13,930 sold units were fresh launches.
In Pune, 42% of the 81,088 units sold in 2024 were from newly launched projects, an increase from 34% of 40,790 units in 2019.
In Hyderabad, 43% of the approximately 58,540 units sold in 2024 were newly launched, a notable rise from 28% of around 16,590 units in 2019.