Ready-to-move-in homes in 2023: The year 2022 witnessed a record high in housing sales and new launches across the top seven cities of the country. As per Anarock data, around 4.02 lakh homes were completed in 2022 in these cities, which was 44% higher than in 2021, when approximately 2.79 lakh homes were completed.
The highest number of new homes completed in 2022 was in the Mumbai Metropolitan Region (MMR). The total number of completed units in MMR in the previous year was 1,26,720, which was almost 80% more than in 2021. MMR was followed by Delhi-NCR, Pune, Bengaluru, Hyderabad, Chennai and Kolkata.
In 2023, Delhi-NCR is expected to have the highest number of new homes.
“2022 was a watershed year for the Indian housing sector, with sales breaching the previous peak levels of 2014. In response to this high demand, developers remained focused on completing their previously launched projects. 2022 saw the highest rate of completions (4.02 lakh units) between 2017 and 2022 across the top 7 cities,” says Anuj Puri, Chairman, Anarock.
“Over 5.44 lakh units are scheduled to be completed across the top 7 cities in 2023. Construction activity was, and will hopefully remain, least impacted even if the pandemic resurfaces, so most completions in 2023 may be as per schedule. Certainly, developers are committed to completing previously launched projects before launching new ones,” he added.
City-Wise Ready-To-Move-In Homes in 2023
Following is the list of cities and the expected number of new home completions there, as per Anarock Research.
Delhi-NCR will have 1,66,850 new completed home units in 2023.
2. Mumbai Metropolitan Region (MMR)
In MMR, approximately 1,32,900 units are expected to be ready by year-end.
Pune is expected to have 94,280 new housing units completed in 2023
In Bengaluru, approximately 73,470 new houses are expected to be completed this year.
Hyderabad has approximately 25,120 new units scheduled for completion in 2023.
In Kolkata, approximately 33,040 new units are lined up to be completed during the year.
Chennai has the lowest stock with approximately 18,550 new units scheduled to be completed in 2023.
As per Anarock Research, ready-to-move-in homes remain squarely on the bestseller list. If construction proceeds unhampered and as per schedule, NCR is likely to see the maximum completions in the year.