Morethanhalfof1,816housingprojectslaunchedlastyearacrosssevenbigcitieswerehigh-rises,whileshareofvillasdeclinedtoanall-timelowat2percent,accordingtopropertyconsultantAnarock.
"WithIndiancitiesunderincreasingpressuretogrowvertically,theshareofhigh-rises(G+20floorsormore)scaledunprecedentedheightsin2019,"AnarockChairmanAnujPurisaid.
Oftotal1,816projectslaunchedin2019acrosssevenmajorcities,morethan52percentwereofG+20floorsormore.Totalsupplyshareofvillasdeclinestoall-timelowof2percentin2019against5percentin2014.
Anarock,whichisprimarilyintobrokeragebusinessinresidentialpropertymarket,trackspropertymarketsofsevencities--nationalcapitalregion(Delhi-NCR),MumbaiMetropolitanRegion(MMR),Kolkata,Chennai,Bengaluru,HyderabadandPune.
Accordingtothedata,land-scarceMMRtopsthelistwithover75percentofthetotal734projectslaunchedin2019inthehigh-risecategory.
"WithG+20floorsthenewnormalintheregion,MumbaiisclosinginonothermegacitieslikeNewYork,HongKongandTokyowherebuildingsastallasG+50floorsarethenorm,"thereportsaid.
TheDelhi-NCRmarketcamenextwithnearly70percentofitstotallaunchedprojectsinthehigh-risecategory.
Bengaluruclockedinwith45percentofthetotalprojectslaunchedin2019toweringaboveG+20floors,followedbyPunewith41percentshare.
InHyderabad,KolkataandChennai,theshareofG+20floorsoraboveoptionisscantier,withtheirhigh-riseshareat23percent,21percentand16percentrespectively,itadded.
"Notably,ChennaiandHyderabad-twocitieswhichhadstucktomoreconventionallow-riseformatsforlongaregraduallywarminguptohigh-risehousingdevelopments.Inboththesecities,thewell-to-dopreferredbungalowsandsea-facingvillas.Itisonlyinthelastdecadethatthesecitieshavebeguntogrowvertically,largelyduetoaccommodateincreasedinwardmigration,"theconsultantsaid.
Onvillas,Anarocksaidthatoutofthetotalnewlaunchesof5.45lakhunitsin2014,nearly5percentwerevillas.In2019,thissharedroppedto2percentofthetotalof2.37lakhunitslaunchedduringtheyear.
"Theincreasingtrendofverticaldevelopmenthastakenthesheenoffaoncehighly-preferredpropertytype-villas.Bothdemandandsupplyofthisformatarediminishing,withwealthyhomebuyerspreferringthelatter-dayconceptofskyvillas',"Anarocksaid.
ShareofnewsupplyofvillasinHyderabaddroppedto8percentlastyearfromover35percentin2014.
InChennai,theshareofvillasin2014wassecond-highestwithover16percentoftotalnewlaunches(28,540units).In2019,thissharedroppedto5percentofthetotal13,000unitslaunched.
Bengalurusawitsshareofvillalaunchesdropfrom12percentin2014to5percentin2019.Theoveralllaunchesinthecitystoodat85,950unitsin2014and50,450unitsin2019.
Delhi-NCRsawonlyamarginaldropfroma3percentshareof1.73lakhunitsin2014to2percentof46,920unitsin2019.
MMRhad1percentshareofvillasfromatotal1.34lakhunitslaunchedin2014anditssharein2019isnowzero.
InPuneandKolkatatoo,theshareofvillasupplyhasbeennegligibleinthelastfiveyears,thereportsaid.
AnarockpostedarevenueofnearlyRs190croreinthelastfiscal.ItcompeteswithNewsCorp-backedPropTiger,AnilAmbani-ledReliancegroupbackedSquareYard,Quikr,InvestorsClinic,360RealtorsandWealthClinicinorganisedhousingbrokeragebusiness.
Disclaimer: No Business Standard Journalist was involved in creation of this content
