NCR sees 45% uptick in new launches, sales 4% up annually
Gurgaon: The NCR cities witnessed 45% annual increase in new launches, with approx. 9,250 units launched in Q3 2023, according to the latest report by real estate consultants Anarock.On a quarterly basis, the city saw a 9% rise compared to Q2 2023. On the sales side, NCR saw approx. 15,865 units sold in Q3 2023, a marginal decline of 4% over the last quarter, but rising by 6% annually.
Surinder Singh, Director of GLS Group, said NCR real estate market specially Gurgaon is doing really well on demand and supply front. “As the demand for expansive residences in Gurugram continues to soar, renowned real estate developers are coming up with such premium projects in Delhi NCR. These premium and luxury developments boast top-notch amenities, exceptional infrastructure, and coveted locations, attracting a discerning clientele seeking the epitome of lifestyle and convenience” he added.“Among the top 7 cities, MMR recorded the highest housing sales of approx. 38,500 units, followed by Pune with approx. 22,880 units,” says Anuj Puri, Chairman of Anarock Group.
“Cumulatively, the two western cities accounted for 51% of total sales seen across the top 7 cities in Q3 2023. In terms of growth, MMR saw a 46% annual rise in housing sales, while Pune saw a massive 63% yearly jump.”
The top 7 cities also witnessed significant new supply with over 1,16,220 units added in the quarter, against 93,490 units in the corresponding period of 2022 – a 24% annual supply increase.