Residential Real Estate in Delhi-NCR Sees Unprecedented Growth
The Delhi-NCR region has witnessed a remarkable 95% surge in new real estate launches in Q2 FY 2024, according to a recent PropEquity report.
Real EstateDelhi NcrPropequityResidential MarketAffordable HousingReal Estate MaharashtraJun 20, 2024
The report highlights that the Delhi-NCR market has witnessed a total of 25,000 new unit launches in Q2 FY 2024, with Noida and Greater Noida accounting for the lion's share of these launches. The report also notes that the affordable housing segment has been the primary driver of this growth, with most of the new launches falling in the price range of INR 20-50 lakh.
The growth in new launches can be attributed to the government's initiatives to boost the real estate sector, including the relaxation of norms for FDI in construction development and the extension of the Credit Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana (PMAY). Additionally, the improving infrastructure and connectivity in the Delhi-NCR region have also contributed to the increased demand for housing.
The PropEquity report also notes that the Delhi-NCR region has witnessed a significant increase in sales velocity, with the average sales velocity increasing by 15% in Q2 FY 2024 compared to the same period last year. This is a clear indication that the demand for housing in the region is gaining momentum.
Information
PropEquity is a leading real estate research firm that provides in-depth analysis and insights on the Indian real estate market. The firm's reports are widely regarded as an authoritative source of information on the Indian real estate sector.
PropEquity is a well-established research firm that has been providing actionable insights on the Indian real estate market for over a decade. The firm's research reports are widely respected for their accuracy and reliability, and are used by stakeholders across the real estate value chain.
Frequently Asked Questions
What is the percentage increase in new real estate launches in Delhi-NCR in Q2 FY 2024?
95%
Which cities in Delhi-NCR have witnessed the most new launches in Q2 FY 2024?
Noida and Greater Noida
What is the primary driver of growth in new launches in Delhi-NCR?
Affordable housing segment
What is the average sales velocity increase in Delhi-NCR in Q2 FY 2024 compared to the same period last year?
15%
What is the price range of most of the new launches in Delhi-NCR?
INR 20-50 lakh
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