NEW DELHI: India’s major cities saw launch of 1.32 lakh homes during the first half of the year. The ratio is up by five per cent compared to last year.

The eight big cities Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR Region and Pune in the country had seen a launch of 125,592 housing units during this period last year.

As many as 31, 440 housing units were introduced in affordable segment, 75, 535 and 24,040 units were launched in the middle and high-income segments. More than 1,120 luxury houses were also introduced in these mega cities.

But there is a certain decline in new launch in third quarter as the economic conditions are not so good for the developers. The low in demand with rapid high pricing in main cities has pushed the developers to act inactive in the festive season also.

Launches of new units decline by 43,907 units during Q2 compared with 47,048 units in the previous quarter.

The demand from fresh units and end re-sale units has been steady as genuine buyers with ample capital look at this phase as ideal to enter the property market on account of stable capital values.

Most developers in the country are aiming to keep the unsold inventories low, to promote sales. The builders are opting for innovative strategy to ensure the customers can get most value from their product.