Housing sales increased in Delhi NCR, across all segments – affordable, mid-income and luxury.
Gurgaon: Housing sales in Gurugram will almost triple in 2022 compared to last year. According to Anarac, sales stood at 24,482 units during January-September this year, driven by high demand for residential properties across all price segments – affordable, mid-income and luxury. Housing sales in Gurugram were 7,725 units in the year-ago period.
Apart from Gurugram, Noida also saw a 52 per cent increase in sales of 5,040 units in the first nine months of this year compared to 3,315 units in the same period last year, according to data compiled by Mumbai-headquartered property consultancy Anarak. Sales in Greater Noida rose 46 percent to 8,651 units in January-September 2022 from 5,925 units earlier.
Ghaziabad sold housing to 5,395 units, a 54 percent increase from 3,510 units in the same period in 2021. Sales in Faridabad nearly tripled to 2,890 units from 1,018 units.
Sales in Delhi NCR more than doubled
Overall, Anarock data showed that sales in the Delhi-NCR market more than doubled to 49,138 units in January-September from 22,478 units in the year-ago period. Noida, Greater Noida and Ghaziabad are in Uttar Pradesh, while Gurugram and Faridabad are part of Haryana.
Santosh Kumar, vice chairman of Anark, attributed the sharp rise in housing sales in Gurugram to various factors, including low base effect and strong revival in demand. “Last year, builders launched fewer projects as demand was muted due to the COVID-19 pandemic. This year, there has been a significant increase in supply across all segments of the housing sector, be it affordable or ultra-luxury,” he said. “Gurugram market has seen good demand for independent floors,” added Kumar.
Realty major DLF has launched many projects featuring independent floors. M3M Group, Signature Global and Tulip Infratech have also launched many housing projects and achieved good sales.
Sales increased across all segments – from affordable to luxury housing
Pradeep Agarwal, Founder and Chairman, Signature Global, said: “Housing sales in Gurugram have grown sharply this year due to high demand across all price points and segments, be it affordable housing or luxury floors. Of late, builders have launched many projects with better locations and amenities that are attracting home buyers.”
Signature Global, which mainly develops affordable housing projects, filed a draft red herring prospectus (DRHP) with markets regulator SEBI in July to raise ₹1,000 crore.
Garvit Tiwari, co-founder of property brokerage Inframantra, said the NCR market has registered strong sales supported by strong consumer demand. “We have witnessed an increase in sales due to increased consumer confidence amid the steady revival of the Indian economy. Strong consumer demand is manifesting itself in the form of strong sales in the affordable and mid-range as well as premium segments,” he said.
Apart from local developers like DLF, M3M and Gaurs Group, there are many South and West Indian players operating in the Delhi-NCR market. These include Godrej Properties, Tata Housing, Prestige Group, Mahindra Lifespace, Birla Estate and Adani Realty. The Delhi-NCR market is also plagued with many stalled projects. More than one lakh home buyers are stuck in such projects.
Major players like Unitech, Jaypee Infratech, Amrapali, Ajnara and The 3C Group have failed to deliver their projects. Many companies are also facing bankruptcy cases.