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New Housing Supply In Delhi-NCR Up 38% In Q1 2022
As per ANAROCK Research, overall new housing supply in Delhi-NCR went up by 38% on Y-0-Y basis - from 6,750 units in Q1 2021 to nearly 9,300 units as on Q1 2022. Individually, Gurugram saw the steepest rise among all NCR cities.
Gurugram saw maximum launches of 7,890 new units in Q1 2022, comprising whopping 85% share of the total new launches in entire NCR. On yearly basis, Gurgaon saw massive jump of over 158% in new supply - from 3,060 unit in Q1 2021 to 7,890 units in Q1 2022.
Noida saw new supply of 270 units in Q1 2022 while Greater Noida saw no new launches in Q1 2022. Developers are consciously restricting new supply into the market. Ghaziabad saw new supply of 220 units. In corresponding quarter of 2021, the city saw no new supply.
Data indicates that Faridabad, Delhi and Bhiwadi together saw new supply of 920 units in the first quarter of 2022, a 32% drop against Q1 2021.
Santhosh Kumar, Vice Chairman - ANAROCK Group, says, "Residential sales in NCR stood at nearly 18,835 units in Q1 2022 - the second highest after MMR. On yearly basis the sales increased by 124% while as against the previous quarter it increased by 7%. In Q1 2021, housing sales were seen to be nearly 8,790 units across NCR."
