GURUGRAM: While the housing sales are down in other metro cities, NCR is only city to see 6 percent increase in housing sales, according to latest report by real estate consultants Anarock.
Not just this, NCR also saw a whopping 134% increase in new launches against Q1 2024, with approximately 17,030 units launched in Q2 2024.
A major share – 82% – of the new launches in second quarter this year were in the luxury segments priced over INR 1.5 crore.
As per the report, available inventory in top 7 cities sees 1% quarterly decline & 6% yearly fall despite addition of new supply and NCR witnessed highest yearly decline of 22%. “Avg. property prices in top 7 cities altogether see 7% quarterly rise but a significant 25% yearly rise – NCR records highest 10% quarterly jump, followed by Hyderabad with 9% increase & Bengaluru with 8% jump” the report claimed.
Anuj Puri, chairman of Anarock, said “Data indicates that average residential prices have seen a quarterly jump of 7% while annual rise of a significant 25% in the top 7 cities”.
He said NCR witnessed the highest quarterly jump of 10% in Q2 2024 while Hyderabad saw the highest yearly jump of 38% in average residential prices. “However, if prices are kept in check henceforth, housing sales may not be majorly impacted in the upcoming quarters” he added.
Pradeep Aggarwal, chairman of Signature Global, said “While developers have kept launching new projects to cater to the latent homebuying demand, many are also ramping up efforts to acquire new land in anticipation of future projects. NCR’s major peripheral areas are seeing new launches that include amenity-rich group housing, independent floors, and gated plotted developments, addressing the needs of modern homebuyers”.
Vikas Garg, joint managing director, Ganga Realty said “The sales growth in Delhi-NCR in the April-June quarter, irrespective of the price hike and a downtrend in most cities, only goes on to confirm that if the quality of housing projects impresses the property buyers, the sales price won’t be a deterrent. Delhi-NCR, being the only city that has witnessed growth on a quarter-to-quarter basis, depicts a buoyant end-user demand for residential properties, especially an uptick in sentiments for luxury homes which are dominating in the current scenario.
Gurugram has particularly witnessed a springing growth of uber-luxury homes in emerging hubs of new Gurgaon, he said.
