Knowledge Centre
Delhi NCR
Delhi
Knowledge Centre

Knowledge Centre \>> Delhi NCR Real Estate Market Annual Report 2020

PROPERTY CAPSULES

Annual real estate analysis of top 4 cities in india

Delhi NCR Real Estate Market Annual Report 2020

4002 Dec 21, 2020 Download Report

Delhi NCR’s residential market that was gradually recovering from the NBFC crisis, State election-induced slowdown and the construction ban imposed by NGT due to rising pollution levels, hit the boulder with the COVID-19 outbreak in March 2020. The pandemic-led lockdown led to an almost 80 percent dip in both housing sales and new project launches, YoY. While the conversions stood at around 5,500 units, new launches numbered at a little above 1,400 units in H1 2020. Average property rates remained unchanged. However, a widened negotiation window translated to an average six percent slump, YoY, across budget categories in the resale market.

Nevertheless, with the Centre announcing “force majeure” by invoking Section 6 under RERA and the State governments extending the project registration validity by six months, developers breathed a sigh of relief. Gradual resumption of construction activities and multiple infrastructure projects announced in due course, including Rs 200 crore sports complex in Wazirabad, five new metro stations in Greater Noida West and Aqua Metro Line expansion, also improved the sentiment.

MARKET INDICATORS

Property Prices
Rental 'Asks'
Demand
Supply
JAN-MAR 2020
APR-JUN 2020
JUL-SEP 2020
OCT-DEC 2020
* Property prices represent quarterly change * Rental 'asks' represent yearly change
* Supply is basis properties listed on 99acres.com * Demand is basis queries received on 99acres.com

 

Resultantly, by the end of Q3 2020, Delhi NCR comprised nearly 22 percent of the total housing sales recorded across metro cities. Residential pockets around Dwarka Expressway, Golf Course Road and New Gurgaon in Gurgaon remained popular among home buyers, followed by localities alongside Noida-Greater Noida Expressway, and those in Greater Noida West and Ghaziabad. Ready homes priced at Rs 45-65 lakh continued being in demand. Amid gradually improving offtake of residential units and reduced number of new launches, the unsold residential stock shrunk to 1.18 lakh units, however, the age of the inventory increased from 19.5 in H1 2019 to 21.9 in H1 2020.

 

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
1 Star2 Stars3 Stars4 Stars5 Stars (6 votes, average: 5.00 out of 5)
Loading...Loading...

POST A NEW COMMENT




2 COMMENTS




  • Amar Yadav

    We are interested for property in Indore.

    December 29, 2020 | 11:53 PM Reply

    1. Bikki Sharma
      @Amar Yadav

      Hello Amar,
      Kindly contact a property dealer in Indore, they will help you. Also, you can visit 99acres.com and check out the property listing for Indore.

      October 13, 2021 | 10:45 AM Reply

Real Estate UpdatesBe the first to know
Subscribe Now
Usage of 99acres.com to upload content showing area in non standard units or which enables targeting by religion/community/caste/race is prohibited. Please report inappropriate content by writing to us at report abuse
X
Select City
X
Search
  • in Articles
  • in News
  • in Policy
  • in Guides
  • in Columns
  • in Reports
UNION BUDGET 2021-22 THE WISHLIST