Housing Supply in NCR Jumps 44% to 53,000 Units
Real Estate

Housing Supply in NCR Jumps 44% to 53,000 Units

The Delhi-NCR housing market saw a 44% increase in new supply this year, reaching 53,000 units, with almost 60% of the new launches being ultra-luxury homes priced over Rs 2.5 crore, according to Anarock. In 2023, 36,735 residential units were launched in the region.

Anarock’s data covers the primary housing market for 2024 in seven major cities: Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Chennai, Hyderabad, and Kolkata. The increase in Delhi-NCR’s supply is noteworthy, as it contrasts with a 7% decline in launches across all seven cities compared to 2023.

Despite the rise in supply, housing sales in Delhi-NCR fell by 6% in 2024 to 61,900 units. Nationally, sales also saw a slight 4% drop to 459,650 units, down from 476,530 units in 2023. Anarock Chairman Anuj Puri attributed the slowdown to factors such as election uncertainty and delays in project approvals.

However, the sales value grew by 16%, driven by rising average prices and larger unit sizes, which offset the decrease in volume.

The Delhi-NCR housing market saw a 44% increase in new supply this year, reaching 53,000 units, with almost 60% of the new launches being ultra-luxury homes priced over Rs 2.5 crore, according to Anarock. In 2023, 36,735 residential units were launched in the region. Anarock’s data covers the primary housing market for 2024 in seven major cities: Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Chennai, Hyderabad, and Kolkata. The increase in Delhi-NCR’s supply is noteworthy, as it contrasts with a 7% decline in launches across all seven cities compared to 2023. Despite the rise in supply, housing sales in Delhi-NCR fell by 6% in 2024 to 61,900 units. Nationally, sales also saw a slight 4% drop to 459,650 units, down from 476,530 units in 2023. Anarock Chairman Anuj Puri attributed the slowdown to factors such as election uncertainty and delays in project approvals. However, the sales value grew by 16%, driven by rising average prices and larger unit sizes, which offset the decrease in volume.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement