High Rises Register Highest Ever Share In Overall Housing Projects Launches In 2019

New Delhi: As the population in the country soars and land becomes increasingly scare, the residential projects in the country are getting taller. Out of the 1,816 projects launched in 2019 in the top seven cities of the country, about 52 percent had 21 floors or more, according to a research report by ANAROCK Property Consultants.

Mumbai had the largest share of high rises in 2019. Out of the total 734 projects launched in the Maximum city, about 76 percent were high rises.    

Ground floor plus 20 floors (G+20) is becoming new norm in the city. However, it is still a far cry than G+50 which is the norm in many international cities like Tokyo, New York and Hong Kong.

Chennai had the lowest share at 16 percent for high-rises. 

Hyderabad had a share of 23 percent for high rises and Kolkata had a share of 21 percent.

“With Indian cities under increasing pressure to grow vertically, the share of high-rises (G+20 floors or more) scaled unprecedented heights in 2019,” said Anuj Puri, Chairman, ANAROCK Property Consultants.

 

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