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National Capital Region (NCR) has seen an increase in the number of residential launches with 90 per cent YoY growth in the first half of 2018, with Gurugram being a significant contributor at 47 per cent share.
According to 'India Real Estate' report released by Knight Frank India, demand for newly launched projects in NCR moved in the same range as in the first half of 2017. The first half of 2018 saw 18,000 units being sold compared with 17,188 units in the first half of 2017, registering a minor increase of 5 per cent.
"At a broad level, the first half of 2018 has started on a positive level for NCR real estate market. The supply side is seen to be upbeat largely because of structural reforms like RERA and GST taking shape. However, a lot of effort needs to be put to re-instil confidence in the buyers who are still wary of the market," said Mudassir Zaidi, Executive Director-North, Knight Frank India.
As per the findings, in the office market, NCR clocked 3.4 million square feet in the first half of 2018, registering a growth of 4 per cent. Meanwhile, around 3.6 million square feet of new office supply had entered the market in H1 2018 compared with 1.8 mn sq ft in the same period in 2017.
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