The realty sector seems to be gaining strength after the second Covid wave, with cities in Delhi-NCR boasting housing sales of 10,220 units in the third quarter this year compared to 5,210 units during the same period the previous year, as per the latest report of real estate consultants Anarock.
The cities, including Gurgaon, Noida, Ghaziabad and others, together witnessed a 96% increase in housing sales, 24% more new launches and a 3% decrease in unsold inventory.
While the previous third quarter saw 6,810 launches in these cities, the latest quarter saw 8,420 launches.
Gurgaon leads the jump in housing sales with a 129% increase, from 1,680 units sold in Q3 2020 to 3,850 units in Q3 2021, followed by Noida which saw a 116% increase, from 670 units to 1,450 units. Noida is followed by Delhi (100%), Ghaziabad (84%) and Greater Noida (58%).
As far as new launches are concerned, Noida saw the biggest jump, of 415%, with 1,030 launches this quarter compared to 200 launches during the same period last year. Gurgaon (74%) stood second with 5,510 launches in Q3 2021 against 3,170 launches in the last quarter.
Anubhav Jain, CEO, Silverglades Group, said the realty sector is witnessing a significant increase in inquiries as well as transactions.
“Location and quality of construction are key factors and we have been able to sell our newly-launched project due to these advantages. Other factors like low interest rates and the need for bigger homes are also driving demand,” he said.
“The luxury segment (above Rs 1 crore) stands out in the city, where demand has surpassed supply. Healthy living projects and projects that bring people closer to the environment are also showing great potential for continued strong sales performance,” he said.
Yukti Nagpal, director, Gulshan Homes, said the housing market in Noida is seeing a boost for premium properties. “Premium properties in both ready-to-move and under-construction projects have seen a huge demand in 2021. Among key trends was a big demand for 4BHK or large spaces in the residential sector where consumers opted for quality work with great community-building amenities. Noida Expressway, because of the location, got the best traction in it,” said the developer.
Source : TOI