Similarly, Bengaluru has witnessed new launches of around 9,500 quarter with an increase of 41 per cent and 1 per cent on a seqential and YoY basis. Chennai also witnessed an increase of 10 per cent and 8 per cent in new launches on quarterly and yearly basis, respectively. Kolkata has also witnessed a reviving trend in terms of new launches with a significant increase of approximately 62 per cent as compared to the last quarter, the report said.

“Real estate sector in India is witnessing an interesting trend where South of India is doing significantly better than the rest of India. The new launches are showing divergently opposite trends in the comparison as rest of India is falling behind due to oversupply and south is doing better due to lesser over supply and demand from the IT sector,” Samir Jasuja, Founder and MD at PropEquity said.

Compared to the rise in supply in the South, the National Capital Region (NCR), Mumbai Metropolitan Region (MMR) and Pune reflected an immense dip in supply in the third quarter. “Gurugram witnessed almost negligible new launches of 80 units in one project and there were no new launches in Noida.