New Housing Supply in Delhi-NCR Up 38% in Q1 2022

Overall new housing supply in Delhi-NCR went up by 38% on Y-0-Y basis – from 6,750 units in Q1 2021 to nearly 9,300 units as on Q1 2022. Individually, Gurugram saw the steepest rise among all NCR cities.

By Varun Singh

Overall new housing supply in Delhi-NCR went up by 38% on Y-0-Y basis – from 6,750 units in Q1 2021 to nearly 9,300 units as on Q1 2022.

As per ANAROCK Research, individually, Gurugram saw the steepest rise among all NCR cities.

• Gurugram saw maximum launches of 7,890 new units in Q1 2022, comprising whopping 85% share of the total new launches in entire NCR. On yearly basis, Gurgaon saw massive jump of over 158% in new supply – from 3,060 unit in Q1 2021 to 7,890 units in Q1 2022.
• Noida saw new supply of 270 units in Q1 2022 while Greater Noida saw no new launches in Q1 2022. Developers are consciously restricting new supply into the market
• Ghaziabad saw new supply of 220 units. In corresponding quarter of 2021, the city saw no new supply.
• Data indicates that Faridabad, Delhi and Bhiwadi together saw new supply of 920 units in the first quarter of 2022, a 32% drop against Q1 2021.

Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “Residential sales in NCR stood at nearly 18,835 units in Q1 2022 – the second highest after MMR. On yearly basis the sales increased by 124% while as against the previous quarter it increased by 7%. In Q1 2021, housing sales were seen to be nearly 8,790 units across NCR.”

• Data trends suggest housing sales in Gurugram increased by 219% on yearly basis. It stood at 2,775 units in Q1 2021 and approx. 8,850 units in Q1 2022.
• Noida witnessed sales of nearly 2,045 units in Q1 2022 as against just 1,280 units in same period in preceding year – increasing by 60%.
• Likewise, Greater Noida saw its residential sales jump up by 39% on yearly basis. As on Q1 2022, sales were recorded to be 3,450 units against 2,485 units in Q1 2021.
• Ghaziabad saw sales of 2,080 units in the first quarter of 2022 as against 1,390 units in previous year same quarter, a jump of 50%.
• Faridabad, Bhiwadi and Delhi collectively saw sales of nearly 2,410 units in Q1 2022 as against 860 units in Q1 2021 – rising by 180%.

Unsold Inventory

As per data, NCR was the third city only to Chennai and MMR which saw its unsold stock decline (by 9%) during the year – from over 1.68 lakh units in Q1 2021 to close to 1.53 lakh units as on Q1 2022.

• Of the total unsold inventory in NCR, Gurgaon currently has the maximum stock of around 63,870 units which increased by 3% on yearly basis. The rise is largely because of the new added supply.
• Greater Noida is next having more than 31,235 units lying unsold as on Q1 2022-end. However, unlike Gurgaon, Greater Noida was able to reduce its stock by good 20% on yearly basis.
• Ghaziabad saw its unsold stock decline to 18,900 units in Q1 2022 from 23,844 units in Q1 2021. This was a whopping 21% yearly decline.
• Noida has an unsold stock of nearly 13,799 units as on Q1 2022-end as against 16,295 units in same quarter of 2021, thus declining 15%.
• Meanwhile, Delhi, Faridabad and Bhiwadi together have over 24,702 units as on Q1 2022-end. It was 27,157 units in the Q1 2021-end, thereby declining by 9%.\

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