According to latest reports by property advisory Cushman & Wakefield, the real estate market in the country’s top eight cities recorded a 320% year-on-year jump in affordable home launches in the quarter to June.
According to reports, developers launched 7,000 affordable units in the period against 1,670 in the year-ago quarter. Of these, 60% or 4,251 units were launched in the National Capital Region, which comprises Delhi and nearby cities such as Faridabad, Gurgaon, Ghaziabad and Noida.
New launches across all housing categories saw a 144% rise in Delhi-NCR at 6,900 units. However, in the first half of 2015, Delhi-NCR witnessed a 28% year-on-year drop in launches to 9,700 units.