+
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
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?