4 May 2022 , 02:24 PM
NCR also outstripped both the Southern and Western markets in supply additions with a massive 204% rise in new launches in Q1 2022 compared to Q1 2020 — from 6,190 units in Q1 2020 to approx. 18,840 units in Q1 2022.
“We attribute NCR’s significantly upbeat performance to returning consumer confidence, prompted by the fact that several leading and listed players have amplified their supply pipeline in the region,” says Santhosh Kumar. “With a 204% increase of new homes between Q1 2020 and Q1 2022, NCR has resoundingly broken its previous trend of restricted new supply. Remarkably, despite this massive new supply, the region’s unsold stock saw the steepest reduction among all other regions.”
Collectively, the Southern cities saw approx. 37,810 new homes launched in Q1 2022 – a 142% increase against the 15,650 units in Q1 2020, while the Western cities witnessed a 109% jump – from 18,270 units in Q1 2020 to approx. 38,130 units in Q1 2022.
New Launches (Units) Region-wise | |||
Region | Q1 2020 | Q1 2021 | Q1 2022 |
South | 15,650 | 24,930 | 37,810 |
West | 18,270 | 28,640 | 38,130 |
North | 6,190 | 6,750 | 18,840 |
East | 1,090 | 1,810 | 5,990 |
Source: ANAROCK Research
Data Breakdown – NCR’s Primary Cities
Available Inventory in Delhi-NCR (Units) | |||
Q1 2020 | Q1 2022 | % Change | |
Gurugram | 60,130 | 63,870 | 6% |
Noida | 18,150 | 13,800 | -24% |
Greater Noida | 42,900 | 31,240 | -27% |
Ghaziabad | 27,140 | 18,900 | -30% |
Faridabad, Delhi, Bhiwadi | 24,790 | 24,700 | 0% |
Total | 1,73,110 | 1,52,510 | -12% |
Source: ANAROCK Research
The views and opinions expressed are not of IIFL Capital Services, indiainfoline.com
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