Delhi-NCR housing sales drop 19 per cent to 15,340 units

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Delhi-NCR housing sales drop 19 per cent to 15,340 units

In the month of April-June, Delhi-NCR housing sales fell 19 per cent to 15,340 units compared to the previous quarter due to the rise in property prices and mortgage rates, according to Anarock data.

In January-March 2022, the NCR's housing sales stood at 18,835 units.

The unaudited housing stocks declined by 7 per cent in Delhi-NCR to 1,41, 235 units from 1,51, 500 units at the end of June quarter from 1,51, as on March 31, 2022.

Anarock said that Gurugram's housing sales fell to 7,580 units from 8,850 units, a number that was broken up by the Delhi-NCR data. The new launches dropped to 2,830 units from 7,890 units.

In April-June 2022 housing sales decreased to 1,650 units in Noida from 2,045 units in the previous quarter. In April-June, housing sales fell to 1,650 units from 2,080 in the previous quarter, but new launches rose to 740 units from 220 units.

Housing sales in Faridabad, Delhi and Bhiwadi fell to 1,710 units during April-June 2022 from 2,410 units in the previous quarter. The new launches were down to 110 units from 920 units.

Gurugram currently has 59,120 units of the total un sold inventory in Delhi-NCR, a 7 per cent decline from March quarter.

At the end of June, unsold housing inventories in Greater Noida fell 8 per cent to 28,875 units.

Ghaziabad saw its unsold stock decline by 5 per cent to 17,990 units in Q 2 2022 from 18,900 units in Q 1 2022, down from 18,990 units in Q 22022.

Unsold housing stocks in Noida fell 12 per cent to 12,150 units at the end of June quarter, compared to 13,800 units in the previous quarter of 2022.

As of June 30, 2022, there were 23,100 un sold units in Delhi, Faridabad and Bhiwadi.

The data showed that it was 24,700 units at the end of Q 1 2022.

The Delhi-NCR is one of the biggest real estate markets in the country, but it has been severely affected due to stalled and significantly delayed housing projects.

The homebuyers who booked flats in NCR are worst affected, as they have not received their flats and almost paid the entire purchase value to the builders. Flat owners are paying EMI on their home loans.

According to Anarock data, 4,79, 940 units worth Rs 4,48, 129 crore are delayed or stalled across these seven cities as of May 31, 2020.

Delhi-NCR alone accounts for a whopping 50 per cent of 2,40, 610 stalled or delayed units worth Rs 1,81,410 crore.

The Noida and Greater Noida region account for almost 70 per cent of the total delayed units, while Gurugram's share is only 13 per cent.

There are 1,65, 348 units worth Rs 1,18, 578 crore that are stalled or delayed in Noida and Greater Noida.

While Gurugram has 30,733 units worth Rs 44,455 crore delayed, the Ghaziabad market has 22,128 such units valuing Rs 9,254 crore.

Delhi, Faridabad, Dharuhera and Bhiwadi have 22,401 stuck delayed units worth Rs 9,124 crore.