Delhi-NCR witnesses 19% decline in housing sales between April-June
Premium- In Delhi-NCR, the housing sales fell to 15,340 units in the first quarter of FY23 as compared to 18,835 units in the January-March quarter
Delhi-NCR witnessed a 19% decline in housing sales between April and June. The housing sales fell to 15,340 units in the first quarter of FY23 as compared to 18,835 units in the January-March quarter.
According to the data compiled by Anarock, one of the leading real estate consultants in India, the unsold housing stocks declined 7 % in Delhi-NCR to 1,41,235 units at the end of the June quarter from 1,51,500 units as of March 31, 2022.
Whereas the housing sales in Gurugram fell to 7,580 units from 8,850 units. In Noida, housing sales declined to 1,650 units in April-June 2022 from 2,045 units in the previous quarter. Housing sales in Greater Noida fell to 2,750 units from 3,450 units while in Ghaziabad, housing sales declined to 1,650 units in April-June from 2,080 in the previous quarter.
Housing sales in Faridabad, Delhi, and Bhiwadi combined fell to 1,710 units during April-June 2022 from 2,410 units in the previous quarter.
Out of the total unsold inventory in Delhi-NCR, Gurugram currently has the maximum stock of around 59,120 units, a 7 % decline from the March quarter.
Unsold housing inventories in Greater Noida fell 8 % to 28,875 units at the end of the June quarter.
Ghaziabad saw its unsold stock decline by 5 % to 17,990 units in Q2 2022 from 18,900 units in Q1 2022.
Unsold housing stocks in Noida fell 12 % to 12,150 units at the end of the June quarter as against 13,800 units in the preceding quarter of 2022.
Meanwhile, Delhi, Faridabad, and Bhiwadi together have over 23,100 unsold units as of June 30, 2022. It was 24,700 units at the Q1 2022-end, the data showed.
Homebuyers who booked flats in NCR are worst affected, as they have not received possession of their flats but almost paid the entire purchase value to the builders. Flat owners are also paying EMI on their home loans.
According to the Anarock data, 4,79,940 units worth ₹4,48,129 crore are "stalled or heavily delayed" across these seven cities as of May 31, 2020.
Out of this, Delhi-NCR alone accounts for a whopping 50 % with 2,40,610 stalled or delayed units worth ₹1,81,410 crore.
Noida and Greater Noida region account for nearly 70 % of total stuck/delayed units while Gurugram's share is only 13 %.
In Noida and Greater Noida, there are 1,65,348 units worth ₹1,18,578 crore stalled or delayed.
While Gurugram has 30,733 units worth ₹44,455 crore stuck/delayed, the Ghaziabad market has 22,128 such units valuing ₹9,254 crore.
Delhi, Faridabad, Dharuhera, and Bhiwadi together have 22,401 stuck/delayed units worth ₹9,124 crore.