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Noida, Greater Noida shed unsold housing stock by 12% in 2020, Gurgaon sees a jump of 7%

Noida, Greater Noida shed unsold housing stock by 12% in 2020, Gurgaon sees a jump of 7%
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Noida, Greater Noida shed unsold housing stock by 12% in 2020, Gurgaon sees a jump of 7%

Noida, Higher Noida shed unsold housing inventory by 12% in 2020, Gurgaon sees a soar of seven%

luxury housing1a CHDAs per ANAROCK analysis, NCR in 2020 noticed complete housing gross sales of greater than 23,220 models, of which practically 4% was within the luxurious phase priced >INR 1.5 crore onwards. Again in 2019, the share was simply 3%.

Amidst restricted new provide in Noida and Higher Noida in 2020, unsold housing inventory there diminished by as a lot as 12% within the yr – from 64,010 models as on 2019-end to just about 56,620 models as on 2020-end. In distinction, Gurgaon noticed its unsold inventory enhance by 7% in the identical interval, to about 61,880 models as on 2020-end.

From a brand new launch perspective, the entire of NCR noticed a complete of about 18,540 models launched in 2020, of which Noida and Higher Noida collectively accounted for a mere 15% share or approx. 2,800 models. Gurgaon noticed new provide of practically 11,180 models in the course of the yr – denoting a big 60% total share.

Apparently, Faridabad noticed extra new housing models launched within the yr (approx. 3,050 models) compared to each Noida and Higher Noida. Ghaziabad noticed housing provide of simply <500 models in 2020 whereas Delhi noticed completely no new launches in 2020.

In the meantime, housing gross sales in all the NCR stood at over 23,220 models in 2020. Of this, Noida and Higher Noida collectively comprised a 44% share or approx. 10,190 models, whereas gross sales in Gurgaon stood at 7,240 models – practically a 31% share.

anarock data

Commenting on the identical, Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants, stated, “COVID-19 impacted each new launches and housing gross sales in all the highest cities, together with NCR. Nonetheless, information developments clearly point out the warning with which builders in Noida and Higher Noida utilized when it comes to new launches. These two markets beforehand had plenty of unsold inventory and builders’ focus is now totally on finishing and promoting beforehand launched tasks. A discount of by over 12% unsold inventory in a single yr is exceptional, and signifies that builders’ affords and reductions bore fruit on this interval.”

In the meantime, luxurious housing in NCR additionally launched into a extra gradual restoration.

Luxurious Housing in NCR

As per ANAROCK analysis, NCR in 2020 noticed complete housing gross sales of greater than 23,220 models, of which practically 4% was within the luxurious phase priced >INR 1.5 crore onwards. Again in 2019, the share was simply 3%.

# Gurgaon noticed housing gross sales of approx. 7,240 models in total 2020, of which luxurious gross sales comprised 5% share.

# Higher Noida noticed housing gross sales of approx. 6,950 models in 2020 of which luxurious phase consisted of simply 2% share.

# Noida witnessed housing gross sales of approx. 3,240 models in 2020, of which luxurious comprised 9% share.

# Ghaziabad noticed housing gross sales of three,780 models in 2020, of which luxurious share was simply 1%.

# Faridabad too noticed restricted gross sales within the luxurious phase. Of the whole gross sales of 970 models in 2020, luxurious comprised simply 1% share.

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