Delhi-NCR Sees Tripled Housing Supply in Sep Quarter Amidst Strong Demand
Fresh supply of residential properties in Delhi-NCR is estimated to triple during July-September to over 13,300 units as developers look to encash strong demand.
DelhincrHousing SupplyPropequityReal Estate MarketTrue North Financial ServicesReal Estate NewsSep 21, 2024
However, new launches and sales across nine major cities are likely to decline. ANI Rochak Bakshi, Founder and CEO of True North Financial Services, said the demand is driven by investors because of price rise.
New Delhi Fresh supply of residential properties in Delhi-NCR is estimated to triple during July-September to over 13,300 units as developers look to encash strong demand, according to PropEquity. 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 expected increase in housing supply in Delhi-NCR in the September quarter?
The housing supply in Delhi-NCR is expected to triple to over 13,300 units in the September quarter.
What is the expected increase in housing sales in Delhi-NCR in the September quarter?
Housing sales in Delhi-NCR are likely to increase 22 per cent during July-September 2024 to 10,263 units.
What is the reason for the increase in demand for housing in Delhi-NCR?
The demand is driven by investors because of price rise, according to Rochak Bakshi, Founder and CEO of True North Financial Services.
Which cities are included in the PropEquity data?
The nine cities included in the PropEquity data are Delhi-NCR, Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Chennai and Kolkata.
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, according to Mohit Jain, MD of Krisumi Corporation.
Related News Articles
Indian Real Estate Market Sees Quarterly Slump, NCR Defies Trend
Real estate sales in India's top seven cities dip 8% in Q2 2024, but NCR bucks the trend with a 6% increase
Union Budget 2024-25: Real Estate Sector Expectations
The real estate sector is brimming with expectations for policies that will propel growth and stability in the upcoming Union Budget 2024-25.
India's First Retail REIT: A New Era in Real Estate Investment
India is expected to get its first Real Estate Investment Trust (REIT) of retail assets soon, as institutional investors and developers look to monetize their rent-yielding space in shopping malls.
Gurugram's New Realty Hotspots: Dwarka Expressway and Sohna Road
The Dwarka Expressway and Sohna Road have emerged as top realty hotspots in Gurugram, attracting huge interest from home buyers and investors alike.
Blue World City’s Revised Bid for Pakistan Airlines: One-eighth of Original Offer
Blue World City, a real-estate development company, has submitted a revised bid for the acquisition of Pakistan Airlines, offering only one-eighth of their initial offer. The company, one of the six pre-qualified contenders, claims this is their best pric
China's Property Market Shows Signs of Recovery Amid Policy Interventions
A recent survey reveals that new home prices in China have increased, indicating potential stabilization in the property market despite ongoing challenges.