NCR sales up 20 pc in the first half

Delhi-NCR Sees Uptick in Housing Sales Amidst Slow Market

Sales Figures for H1

  • Total units sold: 37,000 (20% surge from H1 last year)
  • Notable performer: Greater Noida with 14,300 units sold (nearly three times the same period last year)

Market Drivers

  • Affordable Housing Launches: High number of launches in this category boosted sales in the Delhi-NCR region.
  • Developer Strategy: Focus on completing existing projects and halting new launches to balance supply and demand.

Regional Performance

  • Greater Noida: Strong demand for affordable units led to significant sales growth.
  • Gurgaon & Noida: Occupancy levels dipped due to a lack of affordable housing options.

Market Outlook

  • Inventory Status: Approximately 5.6 lakh housing units under construction and an unsold inventory of 10.32 lakh units in NCR.
  • Launch Trends:
    • H1 saw 50,000 units launched, a 12% increase from 2012.
    • A 37% drop in launches compared to peak 2010 levels over the past two and a half years.
  • Investment Hotspots: Areas like Dwarka Expressway, Noida Expressway, and Greater Noida are expected to attract investors.

Expert Insights

  • The NCR market exhibited stability signs in the first half, but a full recovery is still distant.