Delhi-NCR Sees Triple Growth in New Housing Supply in Q3, Sales Expected to Rise
Fresh supply of residential properties in Delhi-NCR triples in Q3, with 13,311 units launched, driven by strong demand and infrastructure development.
DelhincrReal EstateHousing SupplySalesPropequityReal 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.
Frequently Asked Questions
What is the estimated growth in new housing supply in Delhi-NCR in Q3?
The estimated growth in new housing supply in Delhi-NCR in Q3 is triple, with 13,311 units launched.
What is the expected increase in housing sales in Delhi-NCR during July-September 2024?
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 factors driving the increase in sales in Delhi-NCR market are strong consumer demand and rise in fresh supply of homes.
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.
What is the reason for the decline in sales in the top 9 cities?
The decline in sales in the top 9 cities is due to the real estate market being traditionally slow in the third quarter with developers holding up their launches for the festive quarter.
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