#RealtyNewsRoundUp: New Launches Declined By 20% In Apr-Jun: Report

Numbers available with PropTiger.com show new launches in the second quarter of this calendar year declined 20 per cent when compared to the same quarter previous year. Home sales on the other hand declined two per cent in the same period. While the fall in new launches could be attributed to the fact that real estate developers are busy finishing their ongoing projects, the marginal decline in sales numbers is indicative of builders cutting on their marketing budget to use the savings during the upcoming festive season.

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The Mumbai Metropolitan Region Development Authority is planning to build a 4.5-km bridge. The bridge will connect the Bandra-Worli sea link to the Mumbai trans-harbour line at Sewri. The authorities aim to complete the bridge by mid-2022, at an estimated cost of Rs 1,500 crore

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Buyers of the Emerald Hills township staged a protest outside the office of developer Emaar India near Sikandarpur, demanding completion of their long-delayed homes. The protesters said they had been waiting for almost nine years for the project to be completed, which was originally meant to be finished in three years. The township was launched in July 2009.

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At least one person was killed and eight others were injured in a building collapse accident in Ghaziabad on July 22. This is the second incident of a multi-storey building collapse in the national capital region in one week. Two adjacent buildings in Greater Noida collapsed on July 17.

Source: Media reports