3 weeks ago
Gurugram Leads NCR Real Estate as Ghaziabad's Housing Boom Grows
Two cities in India are in the spotlight for home building.
Gurugram is the biggest market for new homes in its region, called the NCR.
Builders start nearly half of all new housing projects in the NCR in Gurugram.
But Gurugram's numbers slowed down compared with the previous quarter.
Ghaziabad is the new growth star.
New housing projects there jumped by 96% in just one quarter.
It was the only nearby city where home sales went up.
Better roads, new projects, and growing buyer demand are helping Ghaziabad grow.
So Gurugram is still the leader, but Ghaziabad is rising the fastest.
Gurugram captured nearly half of all new residential launches in NCR, though launches fell 48% quarter-on-quarter and 8% year-on-year.
Gurugram remained the largest sales market, accounting for 41% of total housing absorption in NCR despite sales falling 17% sequentially.
Ghaziabad recorded a 96% quarter-on-quarter jump in new launches, securing a 26% share of NCR's total residential supply.
Ghaziabad was the only NCR micro-market to post quarterly sales growth, rising 4% QoQ while overall regional sales fell 12%.
Gurugram stays NCR's premium residential powerhouse, while Ghaziabad emerges as one of the region's fastest-growing housing markets.
- Who
- Real estate developers and homebuyers active in Gurugram and Ghaziabad, key residential markets of India's National Capital Region (NCR).
- What
- A quarterly NCR housing report showing Gurugram retaining leadership in launches and sales while Ghaziabad posted the region's strongest growth.
- Where
- Gurugram and Ghaziabad in India's National Capital Region (NCR).
- When
- The most recent reported quarter; exact dates not specified in the article.
- Why
- To highlight contrasting market dynamics: Gurugram's premium market is stabilising after aggressive expansion, while Ghaziabad's improving infrastructure and connectivity are attracting developers and buyers.
Key facts
- Gurugram share of NCR new launches
- Nearly 50%
- Gurugram launch change
- -48% QoQ, -8% YoY
- Gurugram share of NCR sales
- 41% of absorption
- Gurugram share of unsold inventory
- 46% of NCR stock
- Ghaziabad launch growth
- +96% QoQ
- Ghaziabad share of NCR supply
- 26%
- Ghaziabad sales change
- +4% QoQ (only growing micro-market)
- NCR overall sales change
- -12% QoQ
Sources
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