NEW DELHI, Sept 21: Fresh supply of residential properties in Delhi-NCR is estimated to triple during July-September to over 13,300 units as developers look to encash strong demand, according to PropEquity. Real estate data analytics firm PropEquity has estimated new launches of housing properties at 13,311 units in the current quarter as against 4,147 units in the year-ago period. Housing sales in Delhi-NCR are likely to increase 22 per cent during July-September 2024 to 10,263 units from 8,411 units in the corresponding period of the previous year.
Rise in fresh supply of homes was one of the major factors for an increase in sales in Delhi-NCR market, besides strong consumer demand. Overall across nine major cities, PropEquity data shows that new launches in July-September 2024 may fall to 93,693 units from 1,05,655 units in the same period last year. Sales are estimated to decline 18 per cent to 1,04,393 units in the quarter under review from 1,26,848 units in the same period last year.
These nine cities are — Delhi-NCR, Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Chennai and Kolkata. Commenting on the NCR numbers, Gurugram-based Krisumi Corporation MD Mohit Jain said, “Middle and upper-middle-class buyers are showing a strong preference for spacious homes. The demand for luxury homes priced in the range of Rs 3-5 crore has witnessed tremendous demand particularly in Gurugram.
” Jain expects the upward trend in sales to continue in the upcoming festive sea.