After a huge inventory pile-up and delivery setbacks, the numbers for housing launches appear bleak, too, thus firmly establishing the real-estate gloom story.
Launches till July this year fell by 38 to 59 per cent across key markets such as Gurgaon, Navi Mumbai, Pune, Noida and Kolkata, compared with the same period last year.
Bangalore has bucked the overall downtrend by reporting a rise in launches.
The highest drop, of 59.5 per cent, was seen in Noida, with only 5994 units launched till July this year, down from 14,797 in the same period of 2012.
In Gurgaon, launches dipped 38 per cent to 11955 till July, from 19310 in the corresponding period of 2012.
Text: Mansi Taneja, Business Standard
Reuters, PTI and Associated Press Images