The housing supply in Delhi-National Capital Region (NCR) is up 38 percent year-on-year from 6,750 units in the first quarter of 2021 to nearly 9,300 houses in Q1 2022.
Gurugram in Haryana saw the steepest rise in all of the NCR, which includes Delhi and its neighbourhood, an analysis by real estate service firm Anarock found.
The IT hub added 7,890 new units in Q1 2022, accounting for 85 percent of the new launches in NCR. On yearly basis, Gurugram saw a jump of over 158 percent in new supply—from 3,060 units in Q1 2021 to 7,890 units in Q1 2022.
Noida in Uttar Pradesh saw 270 new units added in Q1 2022, while Greater Noida saw no new launches in Q1 2022. Developers are consciously restricting new supply to the market.
Ghaziabad saw a supply of 220 new units. In the corresponding quarter of 2021, the city in Uttar Pradesh saw no new supply. Data indicates that Faridabad, Delhi and Bhiwadi together added 920 units in the first quarter of 2022, a 32 percent drop against Q1 2021, the report said.
Gurugram sold most houses
“Residential sales in NCR stood at nearly 18,835 units in Q1 2022—the second-highest after MMR. On a yearly basis, the sales increased by 124 percent, as against the previous quarter, it increased by 7 percent. In Q1 2021, housing sales were seen to be nearly 8,790 units across NCR,” said Santhosh Kumar, vice chairman, Anarock Group.
Data trends suggest housing sales in Gurugram increased by 219 percent on yearly basis. It stood at 2,775 units in Q1 2021 and approximately 8,850 units in Q1 2022.
Noida witnessed sales of nearly 2,045 units in Q1 2022 as against just 1,280 units in the same period of the preceding year, an increase of 60 percent.
In Greater Noida, residential sales were up by 39 percent on yearly basis. As on Q1 2022, sales were recorded to be 3,450 units against 2,485 houses in Q1 2021.
Ghaziabad saw sales of 2,080 units in the first quarter of 2022 as against 1,390 units in the year-ago quarter, a jump of 50 percent.
Faridabad, Bhiwadi and Delhi collectively saw sales of nearly 2,410 units in Q1 2022 as against 860 units in Q1 2021, the report said.
As far as unsold inventory is concerned, NCR was the third, next only to Chennai and MMR which saw its unsold stock decline by 9 percent during the year—from over 1.68 lakh units in Q1 2021 to 1.53 lakh units in Q1 2022.
Gurugram has maximum unsold houses
Of the total unsold inventory in NCR, Gurugram has the maximum stock of around 63,870 units, which increased by 3 percent on yearly basis. The rise is largely because of the new supply.
Greater Noida is next with more than 31,235 units lying unsold at the end of Q1 2022. However, unlike Gurugram, Greater Noida was able to reduce its stock by a good 20 percent on yearly basis.
Ghaziabad saw its unsold stock decline to 18,900 units in Q1 2022 from 23,844 units in Q1 2021. This was a whopping 21 percent yearly decline. Noida had 13,799 unsold units by the end of the first quarter 2022 as against 16,295 units in the same quarter of 2021, thus declining 15 percent
Delhi, Faridabad and Bhiwadi together have over 24,702 units as on Q1 2022-end. It was 27,157 units in the Q1 2021-end, thereby declining by 9 percent.
