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Quarterly residential real estate analysis of top 8 cities in India

Delhi NCR Real Estate Report Apr-Jun 2021

1354 Jul 19, 2021 Download Report
  • Amid the catastrophic second wave of COVID-19, the housing market in Delhi NCR suffered a significant setback in Apr-Jun 2021.
  • While the residential enquiries started drying up from April first week, the consequent lockdown from the third week of April to May 31 remained a massive spoiler, bringing the market to a standstill.
  • New supply plummeted significantly in Apr-Jun 2021 as many developers deferred their launches to Q3 2021.
  • The non-operational markets kept the unsold inventory in Delhi NCR unchanged at 1.5 lakh units in the quarter ending June 2021. The period required to dispose of this stock stands at 60 months.
  • Commercial projects with lease guarantee and assured returns lured investors. Grade A offices with floor plates measuring 300-500 sq ft priced Rs 40-60 lakh remained popular along the Golf Course Extension Road and Southern Peripheral Road (SPR).

 

DELHI NCR REALTY AT A GLANCE

Property Prices
Rental Rates
Demand
Supply
* 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

 

99ACRES' OUTLOOK

Amid the catastrophic second wave of COVID-19, the housing market in Delhi NCR suffered a significant setback in Apr-Jun 2021. While the residential enquiries started drying up from April first week, the consequent lockdown from the third week of April to May 31 remained a massive spoiler, bringing the market to a standstill. Despite the businesses reopening from June onwards, the partial lockdown in some zones slowed down the recovery process. Subsequently, the housing sales in Delhi
NCR truncated by around 70 percent, QoQ, in the Apr-Jun 2021 quarter.

New supply plummeted significantly as many developers deferred their launches to Q3 2021. However, fresh inventory
is bound to enter the market given the increased inclination of buyers towards homes designed as per the new normal. Besides, any further delay in the new supply may upset the market sentiment and exert inflationary pressure on the
existing residential stock.

The non-operational markets kept the unsold inventory in Delhi NCR unchanged at 1.5 lakh units in the quarter ending June 2021. The period required to dispose of this stock stands at 60 months.

The rental market remained battered in Apr-Jun 2021. With societies being sealed for site visits and many tenants still operating from their hometowns, rental transactions in Delhi NCR suffered considerably. Resultantly, monthly rentals were down by up to 15 percent, YoY, across several locales.

 

Key micro-markets across budget segments

Key micromarketsAverage Capital 'Asks'Average Rental 'Asks'Rental Yield
Within Rs 40 lakhRaj Nagar Extension2,900-3,50082.87%
Uttam Nagar3,500-4,500153.72%
Rs 40 lakh - Rs 1 croreSector-13, Noida4,250-5,150122.82%
Sector-78, Noida4,800-6,000142.78%
Sector-56, Gurgaon5,990-6,900183.26%
Rs 1 crore and aboveSector-57, Gurgaon6,600-7,220182.87%
Vasant Kunj10,100-13,900272.52%
Sector-12, Dwarka8,400-9,670172.12%

* Note: Rental Yield has been calculated for a 1,000 sq ft apartment. **Average property prices and rental rates have been calculated as per listings posted on 99acres.com in the studied quarter. ***The range of property prices may vary by 10 percent depending on the age and furnishing status of the residential apartments

 

 

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.
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2 COMMENTS




  • Gaurav

    I need hain 90 mtr plote in govindpuram ghaziabad

    July 24, 2021 | 2:56 PM Reply

    1. Anirudh Singh Chauhan
      @Gaurav

      Hi Gaurav, if you need a plot in Govindpuram Ghaziabad, you must browse through the listed plots in the Ghaziabad area on the http://www.99acres.com portal. Here, you will get ample options to choose from a plethora of residential plots in different budget ranges. You can also filter the property listings as per budget and area among other parameters and contact the sellers. Thanks

      July 26, 2021 | 7:24 PM Reply

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