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High-Rises Account For Over 50% Of 1,816 Housing Projects Launched Across 7 Big Cities In 2019
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High-Rises Account For Over 50% Of 1,816 Housing Projects Launched Across 7 Big Cities In 2019
Publish on : 2020-01-21 19:25:17
Mumbai: With Increasing Pressure On Indian Cities To Grow Vertically, The Share Of High-Rises Has Reached Unprecedented Heights In 2019. Of Total 1,816 Housing Projects That Were Launched During The Year Across Top 7 Cities, Over 52% Were High-Rises With Ground Plus 20 Floors Structure, Showed Data From Anarock Property Consultants. Without Any Surprise, Land-Scarce Mumbai Metropolitan Region (Mmr) Topped The List With Over 75% Of The Total 734 Project Launched In 2019 In The High-Rise Category. With G+20 Floors The New Normal In The Region, Mumbai Is Closing In On Other Mega Cities Like New York, Hong Kong And Tokyo Where Buildings As Tall As G+50 Floors Are The Norm. The National Capital Region (Ncr) Stood Next With Nearly 70% Of Its Total Launched Projects In The High-Rise Category. Bangalore Clocked In With 45% Of The Total Projects Launched In 2019 Towering Above G+20 Floors, Followed By Pune With 41% Share. In Hyderabad, Kolkata And Chennai, The Share Of G+20 Floors Or Above Option Is Scantier, With Their High-Rise Share At 23%, 21% And 16% Respectively. Notably, Chennai And Hyderabad - Two Cities Which Had Stuck To More Conventional Low-Rise Formats For Long – Are Gradually Warming Up To High-Rise Housing Developments. In Both These Cities, The Well-To-Do Preferred Bungalows And Sea-Facing Villas. It Is Only In The Last Decade That These Cities Have Begun To Grow Vertically, Largely Due To Accommodate Increased Inward Migration, Said The Anarock Report. The Increasing Trend Of Vertical Development Has Taken The Sheen Off A Once Highly-Preferred Property Type - Villas. Both Demand And Supply Of This Format Are Diminishing, With Wealthy Homebuyers Preferring The Latter-Day Concept Of ‘Sky Villas’,” Said Anuj Puri, Chairman - Anarock Property Consultants. The Data Reveals That Of The Total New Launches Of 5.45 Lakh Units In 2014, Nearly 5% Were Villas. In 2019, This Share Dropped To 2% Of The Total Of 2.37 Lakh Units Launched During The Year.

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