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Delhi-NCR’s real estate market coming out of multi-year slum

November 06, 2019 Admin
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GURUGRAM/NOIDA: NCR’s real estate market has finally started coming out of a multi-year slump. This inference can be drawn from the latest report by realty consultants, that reveals a nearly 70% increase in launches in the region over the past three months as compared to the first quarter of 2019.While Gurugram saw the highest launches in the second quarter of this calendar year.

invested more in Greater Noida — though the housing sales in NCR cities collectively witnessed a quarterly decline of nearly 8% in Q2, the least amongst all top cities, including Mumbai and Pune, as against the first quarter, says the report.

As per the Anarock data, 13,570 flats were launched in NCR in the April-June quarter as against 8,030 between January and March. And Gurugram saw the highest launches in the last quarter at 7,000 units, which is a jump of 36%, as compared to the previous quarter’s 5,140 units.

The Millennium City was followed by the twin cities of Uttar Pradesh. While Greater Noida witnessed launches of 2,270 units in the last quarter as against 590 in the preceding one, Noida got 1,580 units in Q2 as compared to 740 in the first quarter. Delhi also saw new supplies of 1,100 units in Q2 as against 400 in Q1.

However, housing sales across the top seven cities saw a decline on a quarterly basis though NCR witnessed the least drop in its absorption numbers at about 8%. Housing sales in all NCR cities collectively stood at 12,640 units in Q2 as against 13,740 units in Q1 of 2019, the report points out.

 

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