1 week ago
NCR Housing Prices Diverge as Sales and Launches Fall
Property prices did not move the same way across the Delhi-NCR region.
Ghaziabad was unusual because its prices fell by 17 percent.
The city also has a large amount of unsold housing, including homes in stalled projects.
Prices increased strongly in places such as Noida, New Delhi, Faridabad, Gurugram, and Greater Noida.
Faridabad had the biggest increase among the markets listed.
However, fewer homes were sold across the region than a year earlier.
Developers also launched fewer new projects, while unsold homes increased.
The report says recent real estate growth has mainly come from higher prices rather than selling more homes.
Ghaziabad property prices fell 17% year-on-year amid 31.1 million sq ft of unsold residential inventory.
Noida prices rose 61% to ₹25,805 per sq ft, while New Delhi prices increased 94% to ₹24,917 per sq ft.
Faridabad recorded the sharpest gain, with prices surging 264% to ₹11,242 per sq ft.
Gurugram prices rose 6% and Greater Noida prices increased 18% year-on-year.
NCR home sales fell 27% and new launches dropped 45%, while unsold inventory rose 7% to 218 million sq ft.
- Who
- The Delhi-NCR housing markets covered in the report, including Ghaziabad, Noida, New Delhi, Faridabad, Gurugram, and Greater Noida.
- What
- Property prices showed sharply different movements across NCR, while sales and new launches declined.
- Where
- The Delhi-National Capital Region, including the markets listed in the report.
- When
- The figures are reported on a year-on-year basis; current inventory and estimated clearance time are also provided.
- Why
- Ghaziabad’s large unsold and stalled-project inventory may be weighing on prices, while broader sector growth has been driven mainly by higher prices rather than higher sales volumes.
Key facts
- Ghaziabad price change
- Down 17% year-on-year
- Ghaziabad unsold inventory
- 31.1 million sq ft, including 11.9 million sq ft linked to stalled projects
- Highest listed NCR price
- Noida at ₹25,805 per sq ft
- Largest listed price increase
- Faridabad, up 264% year-on-year to ₹11,242 per sq ft
- NCR home sales
- Down 27% year-on-year to 23.5 million sq ft
- NCR new launches
- Down 45% year-on-year to 21.2 million sq ft
- Total NCR unsold inventory
- Up 7% to 218 million sq ft, equivalent to about 2.3 years of sales
Sources
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