80,000 Plus Residential Units Launched Across Top 6 Cities In Q1, 2022: Square Yards

The latest report by Square Yards titled 'India Residential Overview: Jan-Mar 2022 has revealed that the number of new project launches in the top six cities recorded a quarterly rise of 43%, with MMR once again bagging the highest share of 35%, followed by Pune which accounted for 25% of the total new launches.

Mid-segment properties in the budget bracket of Rs 30-60 Lakhs and Rs 60-100 Lakhs were the most searched by online property seekers in Q1, 2022.

Rooted in strong developer confidence, 3BHK configurations formed more than 40% of the residential supply in Bengaluru and Gurugram for Q1, 2022.

"Interestingly, while 2BHK units continued to be the most preferred by homebuyers in Q1 2022 with 42% of the total demand share, the preference for 1BHK units also inched up. The recent announcements of property tax waivers on smaller configurations in MMR and adjacent areas and speculations around expected property price appreciation are the most likely factors behind the cursory trend. The demand for 3BHK and above configurations also remained evident," the Square Yards reported has noted.

Independent homes according to the report were once again in vogue with a 27% share of the total property searches across the top six cities. Southern cities namely Hyderabad and Bengaluru lead the searches with about 42% demand each for independent homes in the cities during the Jan-Mar 2022 quarter.