Gurugram’s housing sales falls by 12% from Jan-Mar, Noida witnesses 19% surge

Sneha Sengupta — Sun, 31 Mar 2024 15:14:40 +0000

According to Anarock, although the demand for residential properties surged by 19% in Noida, housing sales in Gurugram declined by 12% year over year from January to March. According to data from real estate consultant Anarock, the number of house sales in Gurugram’s primary market (first sale) decreased by 12% from 9,750 units in the same period last year to 8,550 units this January–March.

Anarock Vice Chairman Santhosh Kumar stated, ”The demand continues to be strong in Gurugram. Still, sales dipped in the IT city due to a fall in new supply. Many builders did not get approvals to launch projects”.

Krisumi Corporation MD Mohit Jain added, ”Gurugram remains one of the most preferred destinations for luxury properties, particularly for high-networth individuals”.

In the first quarter of this year, sales of residential properties in Delhi-NCR decreased by 9% to 15,650 units from 17,160 units during the same period last year.

Noida has been a popular area in Delhi-NCR for buyers and developers, according to Yash Miglani, MD at Migsun Group, located in Noida. According to him, the announcement of several infrastructural projects, including Jewar Airport, is what caused the increase in sales in Noida.

Vishal Raheja, founder and MD at InvestoXpert.com, mentioned, “Noida’s growth signals its resilience and attractiveness to buyers, buoyed by strategic infrastructure development and affordability”. Shiwang Suraj, founder and Director of housing brokerage firm InfraMantra, said, ”We are witnessing an important transition with demand moderating, influenced by fewer new housing launches”.

Unclaimed homes in 9 Indian cities dips at 7% in past 3 months: Real Estate report

Sneha Sengupta — Sat, 30 Mar 2024 12:51:56 +0000

PropEquity reports that unsold housing inventories in nine major cities decreased by 7% in the last three months to approximately 4.81 lakh units due to stronger sales than new supply. According to statistics from real estate analytics company PropEquity, the number of unsold housing units decreased to 4,81,566 at the end of March this year from 5,18,868 at the end of December 2023 across nine major cities.

The number of unsold housing stocks in Thane decreased by 5% to 1,06,565 from 1,12,397 units.

In Bengaluru, the number of unsold housing units has decreased by 5%, from 47,370 to 44,837. The amount of unsold inventory in Hyderabad decreased by 4%, from 1,14,861 units to 1,10,425 units.

Unsold inventory in Navi Mumbai dropped by 11% to 33,385 units from 37,597 units.

Housing stocks that were unsold in Kolkata decreased by 2%, from 23,745 units to 23,249 units. The number of unsold residences in the Chennai market decreased marginally by 1% to 20,959 units this quarter from 21,142 units at the end of December of previous year, according to the statistics.

PropEquity, a real estate data and analytics platform available online that covers over 1,50,000 projects from 45,000 developers in 44 locations, is owned and operated by P E Analytics.

Mumbai, Navi Mumbai, Thane, Bengaluru, Hyderabad, Pune, Chennai, Kolkata, and Delhi-NCR (Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, and Faridabad) are some of these cities. Managing Director (MD) and founder of PropEquity Samir Jasuja stated that “sales are surpassing the new launches which is a positive indicator for the market” and that as a result, unsold housing stocks have decreased.

The number of unsold inventory in Delhi-NCR has decreased by 12%, from 31,602 units to 27,959 units.

Based on the available statistics, Pune experienced a maximum 13% decrease in unsold housing stocks, going from 75,521 units at the end of December 2023 to 65,788 units at the end of this month. PropEquity reports that the unsold stock in Mumbai decreased by 11%, from 54,633 units to 48,399 units.

housing | Mango Bunch

Gurugram’s housing sales falls by 12% from Jan-Mar, Noida witnesses 19% surge

Unclaimed homes in 9 Indian cities dips at 7% in past 3 months: Real Estate report