NCR Sees Sales Grow by 73% YoY in 2021; Records Sales of 40,050 Housing Units

NCR Sees Sales Grow by 73% YoY in 2021; Records Sales of 40,050 Housing Units

NCR comes second only to MMR in terms of housing sales during the whole of 2021. MMR witnessed housing sales of approximately 76,400 units in 2021.

NCR witnessed housing sales increase by 73 percent from 23,210 units in 2020 to 40,050 units in 2021 on account of decadal low interest rates and demand for residential ownership due to the pandemic. Of the total units sold, Gurgaon comprised 39 percent share, a report has said.

Back in the pre-COVID-19 period of 2019, total sales in the region were approximately 46,920 units, thereby reaching 85 percent of the pre-COVID-19 period, Anarock Research has said.

With this performance, NCR comes second only to MMR in terms of sales during the whole of 2021. MMR witnessed housing sales of approximately 76,400 units in the entire 2021, a report by Anarock has said.

Gurgaon sold as many as 15,590 units in 2021, thereby seeing a yearly rise of 115 percent. Of the total units sold in NCR in 2021 (40,040 units), Gurgaon comprised 39 percent share. Noida saw housing sales of approximately 5,450 units in 2021, comprising an overall share of 14 percent. On yearly basis, housing sales here increased by 68 percent, the report said.

Greater Noida sold as many as 9,580 units in 2021 as against 6,950 units sold in 2020, thereby rising by 38 percent on a yearly basis. It comprised an approximately 24 percent overall share.

Ghaziabad saw total sales of 5,560 units in 2021 as against 3,780 units in 2020, an increase of 47 percent y-o-y. Housing sales share in the city was 14 percent of the total sales in NCR. Faridabad, Delhi and Bhiwadi together saw sales of approx. 3,870 units in 2021 against 2,000 units back in 2020.

In terms of housing launches, NCR added approximately 31,710 new units in 2021 compared to 18,530 units in 2020 – a significant rise of 71 percent. Back in 2019, the new supply stood at approx. 35,280 units.

Gurgaon added as many as 18,540 units in 2021, thereby seeing a yearly rise of 66 percent. Of the total units launched in NCR in 2021 (31,710 units), Gurgaon comprised a whopping 58 percent share. Noida saw a new supply of approximately 4,750 units in 2021, comprising an overall share of 15 percent. On a yearly basis, housing launches here increased by a whopping 385 percent.

Greater Noida saw a new supply of approximately 3,930 units in 2021 as against 1,820 units in 2020, thereby rising by 116 percent on yearly basis. It comprised an approximately 12 percent overall share, the Anarock report said.

Ghaziabad saw the launch of approximately 1,090 units in 2021 as against mere 500 units in 2020, an increase of 118 percent y-o-y. Housing launches share in the city was mere 3 percent of the total launches in NCR. Faridabad, Delhi and Bhiwadi together saw approx. 3,400 units launched in 2021 against 4,050 units back in 2020, thereby declining by 16 percent.

In its latest report released on January 5, 2022, Knight Frank India noted that the National Capital Region (NCR) residential market witnessed growth by 65 percent YoY in the CY2021 with 35,073 housing units sold during the year.

New launches also saw a rise of 110 percent YoY with the addition of 20,585 units in 2021. The demand shift to ticket sizes upwards of Rs 50 lakh has been significant, a trend prevalent across locations due to the need for upgrading the family’s primary residence to accommodate work and study from home requirements.

Gurugram emerged as NCR’s leading residential market with a 33 percent share of the total residential sales during H2 2021. Gurugram’s charm for end-users continues due to ample availability of luxury, blended and compact luxury products, apart from plotted developments.

Source : Money Control

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