Bengaluru sees 42% decline in housing launches in 2016
Monday, March 13, 2017, 10:13 AM
Launch of new residential units in Bengaluru slumped 42% year-on-year in 2016 due to delays in securing completion certificates and muted demand in the high-end and luxury segment. The city saw launch of 17,300 units last year as against 30,000 in 2015. Several developers postponed new launches in anticipation of new rules under the Real Estate (Regulation and Development) Act or RERA.