India’s Residential Market: Q2 2022

Real Estate Snapshot

Report for the
Second Quarter, 2022

Prepared by
P. E. Analytics Ltd.

* Note : Data Includes:

Apartments only
Excluding Construction on Hold and
Sales on Hold
Excluding Lottery Projects
 REAL ESTATE SNAPSHOT | TIER -I CITIES Q2 2022 | RESIDENTIAL

New LAUNCHES (in units)

Overall Housing demand indicates

% Change
CITIES Q2 2021 Q1 2022 Q2 2022
Q-o-Q Y-o-Y
a rise in Q2 2022

Thane 10,400 28,197 21,704 -23% 109%

Pune 11,038 18,526 15,873 -14% 44%
Mumbai 6,056 10,394 11,405 10% 88%
Hyderabad 13,178 16,683 10,434 -37% -21%
Bengaluru 2,488 12,506 8,457 -32% 240%
Chennai 1,536 2,488 1,564 -37% 2%
Kolkata 1,175 1,340 376 -72% -68%
Noida 204 269 74 -72% -64%
Gurugram 140 1,086 0 -100% -100%

Total ABSORPTION (in units)

NEW LAUNCHES % Change
CITIES Q2 2021 Q1 2022 Q2 2022
• Most of the cities have witnessed a lower new launch rate compared to the previous
Q-o-Q Y-o-Y
quarter however the numbers are healthy as compared to previous year.
Thane 10,878 22,265 22,966 3% 111%
• Thane continues to remain at the top spot in terms of new launches with a jump of
109% on Y-o-Y basis. Pune 10,829 25,968 21,927 -16% 102%
Hyderabad 8,176 14,664 14,457 -1% 77%
ABSORPTION Bengaluru 6,088 13,828 13,324 -4% 119%
• Bengaluru witnessed the maximum growth on Y-o-Y basis with 119% increase in Q2 Mumbai 5,929 11,816 11,733 -1% 98%
2022 primarily because of IT/ITES sector returning to office and increased hiring in Chennai 2,374 4,170 3,453 -17% 45%
the IT sector during COVID resulting in increased demand.
Kolkata 1,988 4,313 3,103 -28% 56%
• Thane overtakes Pune to take the top spot in absorption as compared to last quarter Gurugram 769 1,685 1,205 -28% 57%
with 111% growth on Y-o-Y basis and is the only city to show growth in demand as
Noida 539 1,562 1,010 -35% 87%
compared to previous quarter.

P. E. ANALYTICS LTD. | REAL ESTATE SNAPSHOT- TIER 1 CITIES PAGE 2

 REAL ESTATE SNAPSHOT | TIER -I CITIES Q2 2022 | RESIDENTIAL

Unsold INVENTORY (in units)

Overall Housing demand indicates

% Change
CITIES Q2 2021 Q1 2022 Q2 2022
Q-o-Q Y-o-Y
a rise in Q2 2022

Gurugram 8,071 5,974 4,769 -20% -41%

Noida 9,840 7,892 6,956 -12% -29%
Kolkata 24,049 19,230 16,503 -14% -31%
Chennai 23,881 19,029 17,140 -10% -28%
Bengaluru 68,126 57,932 53,065 -8% -22%
Mumbai 62,154 57,271 56,943 -1% -8%
Pune 88,130 77,340 71,286 -8% -19%
Hyderabad 64,492 76,084 72,061 -5% 12%
Thane 108,969 108,174 106,912 -1% -2%

Weighted Average PRICE – SALES (Price/Sft.)

% Change
U N S O L D I N V E N TO R Y CITIES Q2 2021 Q1 2022 Q2 2022 (Capital Values)

• Unsold inventory witnessed significant drop in Gurugram, Noida and Q-o-Q Y-o-Y
Kolkata on Q-o-Q as well as Y-o-Y basis. Mumbai 18,259 18,553 18,896 2% 3%
Gurgaon 10,315 10,027 11,517 15% 12%
• With limited supply vs higher absorption the inventory levels have
dropped. Noida 6,791 7,526 7,411 -2% 9%
Chennai 5,855 6,625 6,744 2% 15%
WEIGHTED AVERAGE PRICE – S ALES Hyderabad 5,764 6,334 6,472 2% 12%
Thane 6,165 6,298 6,325 0% 3%
• The sales pricing has started to pick pace with Gurgaon witnessing the
maximum growth on Q-o-Q basis. Bengaluru 5,760 6,095 6,196 2% 8%
Kolkata 5,355 5,164 5,431 5% 1%
• Chennai and Hyderabad followed with 15% and 12% increase on Y-o- Pune 5,189 5,262 5,348 2% 3%
Y basis.

P. E. ANALYTICS LTD. | REAL ESTATE SNAPSHOT- TIER 1 CITIES PAGE 3

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P. E. ANALYTICS LTD. | REAL ESTATE SNAPSHOT- TIER 1 CITIES PAGE 4

India’s Residential Market: Q2 2022

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