Nearly 15,000 housing units were sold in the Delhi-National Capital Region (Delhi-NCR) in the third quarter of 2022, accounting for 17 per cent of residential sales in the top 7 cities.
Home sales in Delhi-National Capital Region (Delhi-NCR) fell by 2 per cent quarter-on-quarter (QoQ) but grew by 46 per cent year-on-year (YoY) in the third quarter of 2022, with nearly 15,000 housing units sold, property consultant ANAROCK said in a report.
The report said Delhi-NCR sold nearly 15,000 housing units in the quarter, accounting for 17 per cent of overall residential sales in the top seven Indian cities.
Zone-wise within NCR, Gurugram accounted for nearly 54 per cent of all sales, a five per cent increase against Q2 2022. Greater Noida came in second, with roughly 16 per cent of house sales, followed by Ghaziabad and Noida at 11 per cent and 9 per cent, respectively. Faridabad, Delhi, and Bhiwadi registered home sales of 10 per cent each in the third quarter.
New Launches
Delhi-NCR saw the highest YoY decline in new launches amongst the top seven cities. NCR accounted for 7 per cent of the total new supply across the seven cities in the quarter.
According to the report, "approximately 6,400 new residential units were launched between July and September 2022." New launches grew by 57 per cent in Q3 compared to the previous quarter but declined 24 per cent YoY, it said.
In zone-wise new launches in Delhi-NCR, Gurugram saw the highest supply share of 61 per cent in the quarter, down by 9 per cent from Q2 2022. Greater Noida saw a 19 per cent QoQ growth in new launches, holding the second position and contributing 28 per cent to NCR's overall new supply. Noida and Faridabad saw no new launches in the quarter.
Additionally, the mid-end housing segment saw the most number of new launches, accounting for 35 per cent of new supply, compared to the preceding quarter.