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Delhi-NCR housing market: Sales fall 19%, new supply down 56% in April-June

PTI | | Updated on: Jul 03, 2022
Representative image

Representative image | Photo Credit: ASIM HAFEEZ

In January-March 2022, housing sales stood at 18,835 units across NCR.

Housing sales in Delhi-NCR fell 19 per cent to 15,340 units in April-June compared to the previous quarter on lower demand due to rise in property prices as well as mortgage rates, according to Anarock data.

In January-March 2022, housing sales stood at 18,835 units across NCR.

According to data by Anarock, real estate consultants in India, the new launches or supply declined 56 per cent in Delhi-NCR to 4,070 units in April-June from 9,300 units in the previous quarter. The unsold housing stocks declined 7 per cent in Delhi-NCR to 1,41,235 units at the end of June quarter from 1,51,500 units as on March 31, 2022.

Giving the breakup of Delhi-NCR data, Anarock said that housing sales in Gurugram fell to 7,580 units from 8,850 units. New launches dipped to 2,830 units from 7,890 units. In Noida, housing sales declined to 1,650 units in April-June 2022 from 2,045 units in the previous quarter. There were no new launches in the city in June quarter as against 270 units in the previous quarter.

Sales drop

Housing sales in Greater Noida fell to 2,750 units from 3,450 units, while new launches rose to 390 units in April-June from nil in the previous quarter. In Ghaziabad, housing sales declined to 1,650 units in April-June from 2,080 in the previous quarter but new launches rose to 740 units from 220 units. Housing sales in Faridabad, Delhi and Bhiwadi combined fell to 1,710 units during April-June 2022 from 2,410 units in the previous quarter. New launches were down to 110 units from 920 units.

Out of the total unsold inventory in Delhi-NCR, Gurugram currently has the maximum stock of around 59,120 units, a 7 per cent decline from the March quarter. Delhi, Faridabad and Bhiwadi together have over 23,100 unsold units as on June 30, 2022.

Homebuyers who booked flats in NCR are worst affected, as they have not received possession of their flats but almost paid the entire purchase value to the builders. Flat owners are also paying EMI on their home loans.

Published on July 03, 2022
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