Gurugram, the most sought-after residential sector in the Delhi-NCR, saw a 10% increase in house sales from January – March. In contrast, Noida & Greater Noida witnessed a 23% fall in demand, according to Homebazaar.com.
As per data, Gurugram’s house sales increased 10% from the same period last year to 9,750 apartments in January through March, from 8,850 units.
The increase is due to the post-Covid boom in demand for upscale properties. While such projects are often launched in Gurugram, fewer new projects have been established in Noida-Greater, Ghaziabad, and Delhi during the same period of rising loan rates and real estate prices.
In addition, Gurugram has drawn significant international investment despite the rise in house costs, with firms like Brookfield, Blackstone, and GIC investing in the local real estate sector. Numerous significant developers are preparing new projects in the upcoming years in response to the rising housing demand.
Home sales in the rest of the Delhi-NCR market, including Delhi & Ghaziabad, decreased by 30% to homes up to 3,160 from 4,490. In Delhi-NCR as an entire, property sales fall from 18,835 apartments in the same last year to 17,160 apartments from January to March.
According to Homebazaar.com, “the underlying explanation for this decline appears to have impacted incomes of the cheap category home purchasers who are still to achieve the previous Covid levels.”
In Gurugram, for the first quarter, there was significant demand for high-end flats. of this year, our experts predicted that Gurugram’s demand would continue to grow.
