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breaking news Higher residential demand boosts home sales in Gurugram from January to September


Anarock Vice Chairman Santhosh Kumar attributed the sharp rise in Gurugram home sales to a variety of factors, including a weaker base effect and a strong recovery in demand. Freestanding floors have seen good demand in the Gurugram market, Kumar added.

Housing sales in Gurugram more than tripled on an annual basis to 24,482 units from January to September this year due to increased demand for residential properties in all price categories – affordable, middle income and luxury, according to Anarock.

Home sales in Gurugram stood at 7,725 units in the prior year period.

Noida saw sales increase by 52% to 5,040 units in the first nine months of this year, compared to 3,315 units in the corresponding period of the previous year, according to data compiled by Anarock, a real estate consultant based in mumbai.

Sales in Greater Noida increased by 46% to 8,651 units from January to September 2022 from 5,925 units earlier.

Ghaziabad saw a 54% increase in housing sales to 5,395 units from 3,510 units in the corresponding period of 2021. Sales in Faridabad nearly tripled to 2,890 units from 1,018 units.

Overall, data from Anarock showed that sales in the Delhi-NCR market more than doubled to 49,138 units from January to September from 22,478 units a year ago. Noida, Greater Noida and Ghaziabad are in Uttar Pradesh while Gurugram and Faridabad are part of Haryana.

When contacted, Anarock VP Santhosh Kumar attributed the sharp rise in home sales in Gurugram to a variety of factors, including a weaker base effect and a strong recovery in demand.

“Last year, builders launched fewer projects as demand was reduced due to the COVID-19 pandemic. This year, there has been a significant increase in supply across all segments of the construction industry. housing, whether affordable or ultra-luxury,” he said. .

Freestanding floors have seen good demand in the Gurugram market, Kumar added.

The real estate major DLF has launched numerous projects comprising independent floors. M3M Group, Signature Global and Tulip Infratech also launched numerous housing projects and achieved good sales.

Pradeep Aggarwal, Founder and Chairman of Signature Global, said, “Housing sales in Gurugram have risen sharply this year due to higher demand across all price points and segments, be it affordable housing or luxury floors. Lately, builders have also launched many projects with better locations and amenities that are attracting home buyers. Signature Global, which primarily focuses on developing affordable housing projects, had filed a draft red diversion prospectus (DRHP) with market regulator SEBI in July to raise Rs 1,000 crore.

Garvit Tiwari, co-founder of property brokerage Inframantra, said the NCR market saw strong sales backed by strong consumer demand.

“We have seen a recovery in sales due to increased consumer confidence amid the steady recovery of the Indian economy. Strong consumer demand is manifesting in the form of strong sales in the affordable and mid-range categories as well as in the premium segment,” he said.

Apart from local developers such as DLF, M3M and Gaurs Group, there are many players from South and West India operating in the Delhi-NCR market. These include Godrej Properties, Tata Housing, Prestige Group, Mahindra Lifespace, Birla Estates and Adani Realty.

The Delhi-NCR market is also plagued with many stalled projects. More than a million buyers are stuck in such projects.

Big players like Unitech, Jaypee Infratech, Amrapali, Ajnara and The 3C Group have been lacking in the delivery of their projects. Many companies are also facing insolvency proceedings.


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