Delhi-NCR Sees Triple Growth in New Housing Supply in Q2, Says PropEquity
New launches of housing properties in Delhi-NCR estimated to triple in Q2 to 13,311 units, driven by strong demand and infrastructure development.
DelhincrReal EstateHousing SupplyPropequityKrisumi CorporationReal EstateSep 21, 2024
Real estate data analytics firm PropEquity has estimated new launches of housing properties at 13,311 units in the current quarter as against 4,147 units in the year-ago period.
Housing sales in Delhi-NCR are likely to increase 22 per cent during July-September 2024 to 10,263 units from 8,411 units in the corresponding period of the previous year.
Rise in fresh supply of homes was one of the major factors for an increase in sales in Delhi-NCR market, besides strong consumer demand.
Overall across nine major cities, PropEquity data shows that new launches in July-September 2024 may fall to 93,693 units from 1,05,655 units in the same period last year.
Sales are estimated to decline 18 per cent to 1,04,393 units in the quarter under review from 1,26,848 units in the same period last year.
These nine cities are -- Delhi-NCR, Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Chennai and Kolkata.
Commenting on the NCR numbers, Gurugram-based Krisumi Corporation MD Mohit Jain said, \
Frequently Asked Questions
What is the estimated growth in new housing supply in Delhi-NCR in Q2?
The estimated growth in new housing supply in Delhi-NCR in Q2 is triple, with 13,311 units launched.
What is the expected increase in housing sales in Delhi-NCR in Q2?
Housing sales in Delhi-NCR are likely to increase 22 per cent during July-September 2024 to 10,263 units.
What are the factors driving the increase in sales in Delhi-NCR market?
The rise in fresh supply of homes and strong consumer demand are driving the increase in sales in Delhi-NCR market.
How does the Delhi-NCR market perform compared to other cities?
The NCR market has been performing exceptionally well defying the all-India trend.
What is the expected trend in sales in the upcoming festive season?
The upward trend in sales is expected to continue in the upcoming festive season as well as over the next few years.
Related News Articles
Delhi-NCR Leads with 30% Increase in Housing Prices in 2024
Anarock reports that Delhi-NCR recorded the highest yearly jump of 30% in average residential prices, from Rs 5,800 per sq ft in 2023 to nearly Rs 7,550 per sq ft in 2024, driven by robust demand and rising construction costs.
CapitaLand India Trust Secures Top 5-Star Rating in 2024 GRESB Real Estate Assessment
CapitaLand India Trust (CLINT) has achieved a top 5-star rating in the 2024 GRESB Real Estate Assessment, highlighting its commitment to sustainability in every stage of the real estate life cycle, from investment to design, development, operations, and f
Should Air Quality Influence Property Prices? Nithin Kamath's Innovative Proposal
Zerodha co-founder Nithin Kamath has sparked a debate by proposing that property values should be linked to environmental factors, particularly air quality. This bold idea has the potential to transform the real estate market and promote healthier living
Pune-Based Real Estate Leader Ashish Jain Attends Trump's Inauguration Reception in Washington DC
Ashish Jain, the Managing Director of Pune-based real estate firm Kundan Spaces, attended a private reception in Washington DC, ahead of Donald Trump's inauguration as the 47th President of the United States.
Cyril Amarchand Mangaldas Advises Blackstone on Major Real Estate Stake Acquisition
Cyril Amarchand Mangaldas, one of India's leading law firms, provided comprehensive legal advice to Blackstone on its recent acquisition of a significant stake in the Bagmane Group's Special Purpose Vehicles (SPVs). The deal, which includes multiple real
Union Budget 2024-25: Revitalizing the Real Estate Sector
The real estate sector has high expectations from the upcoming Union Budget 2024-25, seeking policy changes to boost growth and sentiment.