Delhi-NCR market sells 15,600 housing units in Q3 2024; Gurugram, Ghaziabad emerge as top performer
NCR has sold an estimated 15,600 units of houses in Q3 2024
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The National Capital Region, popularly known as NCR, has witnessed a significant rise in housing sales in the third quarter of 2024, according to property consultancy firm Anarock.
NCR, which comprises cities like the national capital Delhi, and several adjoining districts of Haryana, Uttar Pradesh, and Rajasthan, has sold an estimated 15,600 units of houses in Q3 2024, the property consultants added.
"NCR remained a significant player in Pan India’s housing sales, capturing 15 percent of total sales among the top 7 cities in Q3 2024," Anarock mentioned. However, the region experienced a marginal slowdown with sales declining by six percent quarter-over-quarter and by 2 percent year-on-year.
Among the NCR cities, Gurugram contributed 51 percent in Q3 2024, followed by Greater Noida and Ghaziabad, accounting for 20 percent and 13 percent of the region's sales, respectively. Ghaziabad's housing sales surged by 19 percent QoQ.
Around 14,100 housing units were launched in NCR in the third quarter. Geographically, Gurgaon remained the most active zone in NCR, accounting for 47 percent of the new launches. Greater Noida and Ghaziabad followed with 22% and 18% shares, respectively.
According to Anarock's report, the ultra-luxury segment dominated the market with a 64 percent share of new launches in Q2. While the luxury and affordable segments experienced a decline.
'Rental yield'
Apart from the increase in housing sale units, the NCR region also reported an increase in rents on a quarter-on-quarter basis.
As per Anarock, Noida Sector 150 rental value increased by 4 percent QoQ around Rs 22,000-30,000. The average quoted monthly rent in Greater Noida West saw a 3 percent spike Q0Q to Rs 17,000-Rs 24,000.
'NCR housing prices'
The costliest region in the NCR for property buyers in Q3 was Noida Sector 150 with an average quoted rate of Rs 13,000 square feet, followed by Dwarka Expressway (Rs10,350 square feet), New Gurugram (Rs 9,700 square feet), Greater Noida West (Rs 8,000 square feet), respectively.
