Villas No More An Option For Buyers In Mumbai, Kolkata, Pune; Other Cities Too See Declining Trend Of This House Type
New Delhi: Villas are not going out of fashion and fewer launches of this housing type are taking place across the country. Of the 2.37 lakh houses launched in 2019 in the top 7 cities of the country, only about 2 percent of them were villas. However in 2014, villas accounted for 5 percent of the 5.45 lakh units launched in the top 7 cities, according to a report by ANAROCK property consultants.
In 2014 in Mumbai, villas accounted for 1 percent of the 1.34 lakh homes launched but in 2019, villas were not launched in the Maximum City. Kolkata and Pune also have seen the share of villas fall to near negligible numbers in the last 5 years.
Homebuyers now prefer sky villas over the traditional villas that we have known and thus the latter is seeing less of traction among people. The decreasing trend of launches of traditional villas can be seen in eastern, northern and western parts of the country.
In Delhi NCR, villas accounted for 3 percent of the overall launches of 1.73 lakh homes in 2014. In 2019, their share fell to 2 percent.
In Hyderabad, 35 percent of the 14.530 houses launched in 2014 were villas. In 2019, only 8 percent of the 14,840 homes launched were villas.
In Chennai, 16 percent of the 28,540 houses launched in 2014 were villas. In 2019, only 5 percent of the 13,000 homes launched in the city were villas.
Bengaluru witnessed share of villa launches decline from 12 percent in 2014 to just 5 percent in 2019. The total number of launches in Bengaluru stood at 85,950 houses in 2014 and 50,450 homes in 2019.