Delhi-NCR Housing Market Soars: A 25% Surge in Sales and Robust Supply Growth

In the vibrant landscape of Delhi-NCR's real estate market, a remarkable transformation is underway. As we step into the final quarter of the year, the region is witnessing an unprecedented surge in housing sales and new supply, setting it apart from other major cities across India.

A Flourishing Market

The latest data from PropEquity reveals that the housing supply in Delhi-NCR is projected to soar by 59%, reaching 11,223 units in the current December quarter, a significant increase from 7,072 units during the same period last year. This growth positions Delhi-NCR as the only market among nine major Indian cities where both sales and new supply are on the rise. In stark contrast, other cities like Bengaluru, Pune, and Mumbai are expected to see a decline in housing sales and new launches during this quarter.

Yearly Trends

Despite the positive momentum in Delhi-NCR, the overall housing sales across these nine cities are anticipated to drop by 21% annually, falling from 137,225 units last year to 108,261 units this quarter. This decline can largely be attributed to a high base effect from the previous year.

Insights from Industry Leaders

Industry experts are optimistic about the Delhi-NCR market's trajectory. Samir Jasuja, CEO of PropEquity, notes that while total housing sales and new launches have decreased nationally, Delhi-NCR is asserting its dominance as a global corporate hub. The construction of Noida Airport is particularly highlighted as a catalyst for this growth.

Manoj Gaur, CMD of Gaurs Group, emphasizes that the demand for housing is being driven by both end-users and investors. Akash Khurana, President and CEO of Krisumi Corporation, echoes this sentiment, stating that strong economic growth and robust infrastructure development are fueling demand across various property types.

Gurugram's key micro-markets are also thriving; notably, the Dwarka Expressway continues to attract home buyers. Madhur Gupta, CEO of Hero Realty, points out that significant infrastructure projects like the metro expansion are pivotal for future growth in the NCR real estate market.

The Role of Infrastructure

Garvit Tiwari, Director & Co-Founder of InfraMantra, highlights that infrastructure development has played a crucial role in enhancing market performance during festive seasons compared to last year. The presence of local branded developers alongside reputable builders from other regions has further solidified demand.

As we look ahead, the outlook for residential real estate in Delhi-NCR remains promising. With ongoing developments and a strong demand for properties from various segments of buyers, it’s clear that this region is not just surviving but thriving amidst broader market challenges.