Housing Supply Dips Amid Election Period in Major Cities

The supply of new housing units is set to decline by 13% this quarter across nine major cities due to fewer projects launched amidst the general election, as per PropEquity. While some cities like Delhi-NCR and Bengaluru see rises, others like Pune and Hyderabad face significant declines.

The supply of new housing units is projected to dip by 13% this quarter across nine major cities, largely due to fewer project launches attributed to the ongoing general elections, real estate data analytics firm PropEquity reported.

PropEquity's data indicates that new housing supply for April-June is estimated to reach 97,331 units in comparison to 1,11,657 units in the same period last year. The election period has notably influenced the numbers, with certain cities like Pune and Hyderabad experiencing fewer launches, whereas Delhi-NCR has seen almost a doubling in supply.

Samir Jasuja, CEO & MD of PropEquity, comments, 'The Lok Sabha elections have significantly impacted new housing supply. The quarter saw a 7% decline from January-March.' City-wise, Delhi-NCR's new residential launches are expected to jump by 95%, while Bengaluru and Chennai see 21% and 67% rises, respectively. Contrarily, Hyderabad's supply plummets by 36%, and significant declines are also observed in Kolkata, Mumbai, Navi Mumbai, Pune, and Thane.

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