Delhi-NCR housing market sales fall 19% in Apr-Jun

Housing sales in Delhi-NCR fell 19% to 15,340 units in April-June compared to the previous quarter on lower demand due to a 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 compiled by Anarock, one of the leading real estate consultants in India, the new launches or supply declined 56% in Delhi-NCR to 4,070 units in April-June from 9,300 units in the previous quarter.

The unsold housing stocks declined 7% in Delhi-NCR to 1,41,235 units at the end of the June quarter from 1,51,500 units as of March 31, 2022. Giving a breakup of the 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 the June quarter as against 270 units in the previous quarter. 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% decline from the March quarter.