In Q3 2023, NCR recorded sales of over 15,900 housing units

By Bricksnwall | 2023-11-01

In Q3 2023, NCR recorded sales of over 15,900 housing units

In the third quarter of 2023, Gurugram accounted for 56% of the home sales in the region. According to the survey, Greater Noida, Noida, and Ghaziabad each contributed 15, 10, and 10% of the overall sales.

In the third quarter of 2023, Gurugram accounted for 56% of the home sales in the region. According to the statement, Greater Noida, Noida, and Ghaziabad contributed 15, 10, and 10% of the overall sales. (For purposes of representation)

In the third quarter of 2023, the National Capital Region's (NCR) residential real estate market recorded sales of around 15,900 dwelling units or 13% of all sales among the top seven cities. According to Anarock research, sales in the region increased by 6% from Q3 2022.

Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Kolkata, Ahmedabad, and Pune were among the seven cities.

In the third quarter of 2023, Gurugram accounted for 56% of the home sales in the region. According to the statement, Greater Noida, Noida, and Ghaziabad contributed 15, 10, and 10% of the overall sales.

NCR Launches

According to the analysis, 9,200 residential units were introduced in Q3 2023, accounting for 8% of the total supply of new homes built during this time. The ultra-luxury market accounted for 38 percent of launches in the NCR, with prices exceeding Rs 2.5 crore, while the affordable segment (31 percent) followed.

With half of the total volume of new residential launches coming from Gurugram, this market has become the dominating one. Following suit, Ghaziabad and Noida contributed 15% and 33% of their respective amounts. With a 248 percent quarterly surge in new releases, Noida stood out among all the regions.

The data indicates that in the third quarter of 2023, the average quarterly capital values in NCR cities increased by five to nine percent. Greater Noida West (Rs 4300 per sqft), Dwarka Motorway (Rs 6360 per sqft), and New Gurugram (Rs 7050 per sqft) followed with the biggest quarterly gain in average quoted rates, at nine percent, for the Noida sector 150 micro market. The average prices for Ghaziabad's Raj Nagar Extension (Rs 3900 per sqft) and NH-24 (Rs 4100 per sqft) increased by 5% on a quarterly basis.

In six NCR micro markets, the average quarterly growth in rentals also stayed between the three to nine percent range. With an average quarterly gain in rentals of 9%, Dwarka Motorway led the way, followed by Noida Sector 150 (5%), and Ghaziabad's NH-24 (8%).

Available Inventory 

The data shows that the NCR had around 1,04,400 residential units in its available inventory at the end of the quarter, a six percent quarterly reduction. Comparing the region to the other six largest cities, there has been a 21% decrease in the amount of available residential inventory when looking at year-over-year data.

Twenty-one percent of the flats are in Greater Noida, and forty-one percent are in Gurgaon.