MUMBAI: Developers launched 7,226 residential units in the first three months of 2013 in Mumbai, according to the latest quarterly report by global realty firm Cushman and Wakefield.
Nearly 80% of the launches were in the suburban locations such as Goregaon, Malad, Borivli and Thane. The high-end segment continued to contribute the most at 67% of the total units launched.
Low transactional activity and high levels of unsold inventory have resulted in stable capital values in most micro-markets. But with low availabilities in the mid-end segment, capital values in south central Mumbai increased by 19% over last year, while the western suburbs saw a change in capital values at 21% over last year, the report said.
An increasing trend among developers is offering flats with smaller configuration—1 and 1.5 BHK—to drive up sales.
According to the report, about 38,000 residential units were launched in Q1 of 2013 in major cities, registering a marginal decline of 2% over the previous quarter. Bangalore recorded the highest number of launches at 11,622 units, contributing to around 31% of the overall new supply in the top eight cities followed by NCR and Mumbai.