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Expect more launches in Q4

While the waning of the second Covid wave, record low mortgage rates and strong hiring/salary growth in the IT/ITes sector led to developers preponing many launches to August-September 2021 which saw strong buyer demand, the momentum was carried forward to the third quarter also. Though the industry has seen a healthy growth in Q3FY22 sales bookings, sales may still remain flat on QoQ basis owing to the high base of the previous quarter.

However, a common theme which is doing the rounds in the industry is that while developers have launched a few projects during the festive season, a bulk of the planned FY22 launches are expected to happen in Q4FY22 (January-March 2022) as developers have focused on selling inventory in projects launched in Q2FY22 and near-completion/completed inventory.

During Q3FY22, the Mumbai market saw a few major launches by developers including the Lodha Premier, Palava and Woods, Kandivali projects by Macrotech (Lodha), Jasdan Classic in Byculla, Mumbai by Prestige Estates, Elysian Tower B in Goregaon by Oberoi Realty, Birla Niyaara in Worli by Century Textiles and Bayview in Vashi by Godrej Properties.

On the other hand, South India based developers largely focused on selling existing inventory and launched new phases in existing projects barring the launch of apartments and villas at The Prestige City in Sarjapur, Bengaluru under Eden Park, Avalon Park and Aspen Greens.

However, heading into January 2022, there are a slew of launches expected over the next two-three months including DLF’s One Midtown project in Moti Nagar, New Delhi (2msf with Rs40bn of total estimated sale value), final tower at Lodha Park (Codename 2024), several launches by Godrej Properties and other listed developers.

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