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

By  Storyboard18Oct 25, 2024 4:39 PM
Delhi-NCR market sells 15,600 housing units in Q3 2024; Gurugram, Ghaziabad emerge as top performer
NCR remained a significant player in Pan India’s housing sales, capturing 15 percent of total sales in Q3 2024 ( Image: Unsplash)

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.

First Published on Oct 25, 2024 4:39 PM

More from Storyboard18

How it Works

Asaram Documentary: SC orders police protection for Discovery Execs, offices

Asaram Documentary: SC orders police protection for Discovery Execs, offices

How it Works

Users cry foul: Apple, HDFC Ergo, Zopper in trouble over 'India Gets Moving' campaign

Users cry foul: Apple, HDFC Ergo, Zopper in trouble over 'India Gets Moving' campaign

How it Works

Zomato rebrands as ‘Eternal’ to embark on new corporate journey: Experts decode the move

Zomato rebrands as ‘Eternal’ to embark on new corporate journey: Experts decode the move

How it Works

Patanjali misleading ads case: Baba Ramdev, Acharya Balkrishna move Kerala Court to recall non-bailable warrant

Patanjali misleading ads case: Baba Ramdev, Acharya Balkrishna move Kerala Court to recall non-bailable warrant

How it Works

India’s creator economy sees 322% growth, surpassing 4 million influencers in 2024: Qoruz Report

India’s creator economy sees 322% growth, surpassing 4 million influencers in 2024: Qoruz Report

How it Works

Google ads costs soar: CPCs up 30%-100% across key industries, brands are fighting back

Google ads costs soar: CPCs up 30%-100% across key industries, brands are fighting back

How it Works

Radio ad volumes surge 80% in 2024 vs. 2020; Gujarat leads with 18% share

Radio ad volumes surge 80% in 2024 vs. 2020; Gujarat leads with 18% share

How it Works

Parliament committee to discuss 'demands for grants' for MIB on February 13

Parliament committee to discuss 'demands for grants' for MIB on February 13