NCR Housing Inventory Declines Sharply
Real Estate

NCR Housing Inventory Declines Sharply

The National Capital Region (NCR) has witnessed a remarkable 57% reduction in unsold housing inventory over the past five years, marking the highest decline in the country. From approximately 200,000 units at the end of the first quarter of 2018, the unsold stock plummeted to 86,420 units by the end of the first quarter in 2024. This trend reflects a significant upturn in the residential real estate sector, driven by increased demand and strategic market adaptations by developers.

Particularly noteworthy are the areas of Greater Noida and Ghaziabad, where unsold inventories have decreased dramatically. Greater Noida saw a reduction of 70% in its unsold stock since the first quarter of 2018, while Ghaziabad's unsold inventory declined to 11,011 units from 37,005 units during the same period. Noida also reported a substantial decline, with unsold units dropping to 7,451 from 25,669.

This positive shift is anticipated to spur a wave of new residential projects, especially in the luxury segment, as developers respond to a recovering market and growing consumer confidence. The decline in unsold stock is partly attributed to changing consumer behaviors post-COVID-19, with an increased number of buyers preferring to own homes rather than rent. This shift has been supported by various factors, including favorable property prices and government incentives such as GST rate cuts.

The reduction in unsold housing inventory is a significant indicator of market recovery in the NCR, suggesting a healthier balance between supply and demand. This is expected to stabilize property prices and encourage further investments in the region's real estate sector. As the market continues to recover, the focus on nearly completed or ready-to-move-in apartments is likely to persist, appealing to buyers eager to avoid risks associated with under-construction projects.

The National Capital Region (NCR) has witnessed a remarkable 57% reduction in unsold housing inventory over the past five years, marking the highest decline in the country. From approximately 200,000 units at the end of the first quarter of 2018, the unsold stock plummeted to 86,420 units by the end of the first quarter in 2024. This trend reflects a significant upturn in the residential real estate sector, driven by increased demand and strategic market adaptations by developers. Particularly noteworthy are the areas of Greater Noida and Ghaziabad, where unsold inventories have decreased dramatically. Greater Noida saw a reduction of 70% in its unsold stock since the first quarter of 2018, while Ghaziabad's unsold inventory declined to 11,011 units from 37,005 units during the same period. Noida also reported a substantial decline, with unsold units dropping to 7,451 from 25,669. This positive shift is anticipated to spur a wave of new residential projects, especially in the luxury segment, as developers respond to a recovering market and growing consumer confidence. The decline in unsold stock is partly attributed to changing consumer behaviors post-COVID-19, with an increased number of buyers preferring to own homes rather than rent. This shift has been supported by various factors, including favorable property prices and government incentives such as GST rate cuts. The reduction in unsold housing inventory is a significant indicator of market recovery in the NCR, suggesting a healthier balance between supply and demand. This is expected to stabilize property prices and encourage further investments in the region's real estate sector. As the market continues to recover, the focus on nearly completed or ready-to-move-in apartments is likely to persist, appealing to buyers eager to avoid risks associated with under-construction projects.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?