Hyderabad sees decline in new launches

Hyderabad: The project launches in Hyderabad saw a decline of 35 per cent in January 2013 compared to January 2012, according to a report by PropEquity Analytics Pvt Ltd. The report said that residential sales picked up in the National Capital Region (NCR) in January from the year ago but fell in Mumbai, Chennai and Hyderabad in the same time period. In January, 8,812 units were sold in NCR, a rise of 46 per cent from a year ago, while project launches dropped 35 per cent to 5,208 units. Samir Jasuja, founder and chief executive of PropEquity, said that the revival in NCR was on account of rising sales in the Greater Noida, Yamuna Expressway, Noida Extension and Faridabad areas. Amongst southern property markets, Bangalore, which has been considered as the most stable so far, witnessed an increase of 32 per cent in sales to 4,182 units and 22 per cent in new launches this January. The launch prices in the city have also seen an increase of 13 per cent. Chennai and Hyderabad saw a drop in sales and the developers curbed the supply of new launches. Project launches in Chennai dropped 47 per cent and Hyderabad saw a decline of 35 per cent.