According to Anarock, housing sales in Gurugram grew more than three times year-on-year to 24,482 units during January-September this year. Housing sales in Gurugram stood at 7,725 units in the year-ago period.
According to data compiled by Mumbai-headquartered property consultant Anarock, Noida saw a 52 per cent increase in sales at 5,040 units in the first nine months of this year as compared to 3,315 units in the same period last year. Sales in Greater Noida grew by 46 per cent to 8,651 units during January-September 2022, from 5,925 units earlier.
Ghaziabad witnessed a 54 per cent increase in housing sales from 3,510 units to 5,395 units in the same period in 2021. Sales in Faridabad grew almost three times to 2,890 units from 1,018 units. Overall, Anarock data shows that sales in the Delhi-NCR market more than doubled to 49,138 units during January-September from 22,478 units in the year-ago period. Noida, Greater Noida and Ghaziabad are in Uttar Pradesh, while Gurugram and Faridabad are part of Haryana.
When contacted, Anarock Vice Chairman Santosh Kumar attributed the sharp growth in housing sales in Gurugram to various factors including low base effect and strong revival in demand.
“Last year, builders launched fewer projects as demand was muted due to the COVID-19 pandemic. This year, there has been a significant increase in supply across all segments of the housing sector, be it affordable or ultra luxury,” he added.
Kumar said that the Gurgaon market has seen good demand for independent floors. Realty major DLF has launched several projects with independent floors. M3M Group, Signature Global and Tulip Infratech have also launched several housing projects and achieved good sales.
Pradeep Agarwal, Founder and Chairman, Signature Global, said: “Housing sales in Gurugram have grown exponentially this year as there is high demand across all price points and segments, be it affordable housing or luxury flooring. Of late, builders have also launched several projects with better locations and amenities which are attracting home buyers.” Signature Global, which is primarily into development of affordable housing projects, filed a red tape with the market regulator in July. had filed a draft herring prospectus (DRHP).SEBI will raise Rs 1,000 crore.
Garvit Tiwari, co-founder of property brokerage Inframantra, said strong consumer demand has led to strong sales being recorded in the NCR market.
“We have seen an uptick in sales due to a rise in consumer confidence amid a steady revival of the Indian economy. Strong consumer demand is manifesting in strong sales in the affordable and mid-range as well as the premium segment. Apart from local developers like DLF, M3M and Gaur Group, there are many players from the south and west. India Serving Delhi-NCR market. These include Godrej Properties, Tata Housing, Prestige Group, Mahindra Lifespaces, Birla Estates and Adani Realty.
The Delhi-NCR market is also plagued with several stalled projects. More than one lakh homebuyers are stranded in such projects. Big players like Unitech, Jaypee Infratech, Amrapali, Ajnara and The 3C Group have defaulted in completing their projects. Many companies are also facing insolvency process.
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