Q1 2022 NCR new housing supply up 38%

April 11, 2022: As per ANAROCK Research, 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.

• 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%.\