INDIA’S residential real estate market thrived in the first half of 2024 with a 55 per cent increase in new launches to 159,455 units, while Kolkata exhibited a contrasting trend, according to a report released on Friday. The eastern metropolis witnessed an 11 per cent decline in new launches during the period. K o lka t a launched 4,388 units in the January-Juneperiodof2024,as compared to the 4,942 in the corresponding months of 2023, realty consultant JLL said in the report.

 

Kolkata accounted for only three percent of the new launch inventory among the top seven cities. Cities, like Bengaluru, Mumbai, Delhi NCR and Hyderabad led the surge nationally, contributingto a total of 159,455 units launched. C h e n nai and Pune also experienced a 10percentand a 22 per cent decrease in launches respectively. Residential prices across India rose in the top seven cities. These cities saw a yearon-yearpriceincreaseranging from 5 per cent to 20 per cent in Q2 (April-June) 2024.