Home Sales In NCR Reach 10 Year High, Flats Above 1 Crore Being The Most In Demand

Home Sales In NCR Reach 10 Year High, Flats Above 1 Crore Being The Most In Demand

The residential sales in Delhi-NCR reached a 10-year high in the first half of 2023 with 30,114 units sold, with Gurugram accounting for more than half of the units sold with a 52% share.

A combined 32% of the market was accounted for by Noida and Greater Noida. Ghaziabad contributed 12%, while Delhi and Faridabad each contributed 2%.

The volume of home sales in 2023 will increase by 3% annually compared to the first half of the year 2022.

65 Percent Of Transactions In The NCR Are Homes Costing More Than 1 Crore

Since the second half of 2021, the percentage of residential properties sold in NCR that cost more than Rs 1 crore has steadily increased. The share of this category increased to 41% in the first half of 2022 from 37% in the first half of 2021.

This ticket size category made up 50% of the region’s overall sales volume in the second half of 2022 before increasing to 65% in the first quarter of 2023.

In a booming NCR market, where home sales are at an astounding 10-year high, the rising demand for apartments costing more than Rs 1 crore underlines the enormous development potential and profitability within the real estate sector.

Gurugram Remains On Top Choice For Primary Residential Sales In NCR

With each half-yearly period since the second half of 2019, Gurugram’s share of the total sales volume in NCR has increased. Gurugram’s market share increased from 12% in 2nd half of 2019 to 52% in 1st half of 2023.

The research said that new launches from reputable developers in a variety of homes, including independent floors, gated plotted developments and high-rise apartment projects, have ensured a solid sales velocity in its different locations.

Now that the completion of the Dwarka Expressway is clearly impending, large township developments on Golf Course Extension Road, New Gurugram and along the expressway are experiencing a robust sales velocity.

Source- Business Standard

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