NCR housing sales declined by 22% – Anarock Consultancy Report.

By Abhay Shah

According to a statement from the Anarock consultancy, the National Capital Region (NCR) suffered a 22% fall in housing sales quarterly. According to the report, annually sales decreased by 13% and by almost 22% on a quarterly basis with sales of almost 9,830 units in the third quarter of 2019. Out of the top 7 cites, the NCR was second to the quarterly drop in total data.
According to the survey, in the third quarter of 2019, the NCR collectively generated a new supply of 5,790 units, compared to 4,200 units a year ago and nearly 13,570 units in the second quarter of 2019.
“In the third quarter of 2019 Gurgaon saw its highest launches of 2,030 units, up 75% from 1,160 units in the Third Quarter of 2018. Next followed Faridabad and saw approximately the same new launches. In Q3 2019, 1,190 units were up by 36% compared to the previous quarter,” said the report.
The developers hope for better results with the upcoming festival season.
Greater Noida and Noida which have seen limited new supply have reported a combined peak sales of 4,580 units during the third quarter of this year. Independently, in the third period of 2019, the Greater Noida sold almost 3,200 units, more than the Gurgaon, which during this time saw housing sales at 2,690 units.
In the third quarter of 2019, Ghaziabad reported a quarterly decrease in housing sales by 20% with 1700 units, compared to 2,120 units sold during the second quarter of 2019.
NCR has fared better in shedding its total unsold stock on a quarterly and annual basis, according to the report.
It saw a year-on-year fall of about 7% from 1,90,650 units in the third quarter of 2018 to 1.77,900 units in the third quarter of 2019.
The region decreased its stock of unsold units by 2% quarterly – much better than many of the major cities except Hyderabad.