Housing sales: Gurgaon on top, Noida leads in new launches

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After the second Covid wave, the realty sector is looking to bounce back as cities in Delhi-NCR boasting housing sales of 10,220 units in the third quarter as against 5,210 units during the same period the previous year, according to a report by Anarock. Cities like Gurgaon, Noida, Ghaziabad and others together went up by 96% in housing sales, 24 percent more new launches and a three percent decline in unsold inventory. The number of launches in the latest quarter stood at 8,420 while the same during the corresponding quarter in the previous year was at 6,810 launches.

New launches

Gurgaon had the highest number of housing sales with 3,850 units sold in the third quarter of 2021, as compared to 1,680 units sold in the third quarter of 2020. This is followed by Noida which witnessed a 116% increase from 670 units to 1,450 units. Noida is followed by Delhi, Ghaziabad, and Greater Noida at 100 percent, 84 percent and 58 percent, respectively.

In terms of new launches, Noida had the biggest increase of 415 percent, with 1,030 launches this quarter as compared to 200 launches during the same period last year. Gurgaon at 74% stood second with 5,510 launches in third quarter of 2021 as against 3,170 launches in the last quarter.

According to Silverglades Group, the realty sector is seeing a significant increase in inquiries as well as transactions.

It also said that location and quality of construction are key factors and have been able to sell newly launched projects due to these advantages. Other factors like low interest rates and the requirement for bigger homes are also driving demand.