Affordable flats launches drop 21% annually in April-Jun in top 7 cities

New supply of affordable apartments -- costing below Rs 50 lakh -- declined 21 per cent in the April-June period across seven major cities as builders are launching more premium flats, according to JLL India.

Real estate consultant JLL India on Friday released data for housing market of major seven cities, showing a 5 per cent increase in fresh supply of apartments to 1,59,455 units during April-June 2024 from 151,207 units in the year-ago period.

The data includes only apartments. Rowhouses, villas, and plotted developments have been excluded from the analysis.

Of the total new supply in the June quarter, the launches of affaordable flats stood at 13,277 units, a fall of 21 per cent from 16,728 units in the same period last year.

The launches of flats, each costing Rs 50 lakh to Rs 1 crore, declined 14 per cent to 47,930 units from 55,701 units.

In the Rs 1-3 crore price bracket, the new supply grew 3 per cent to 69,312 units from 67,119 units.

The launches of apartments, each p