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Quarterly residential real estate analysis of top 8 cities in India

Delhi NCR Real Estate Report Jul-Sep 2021

3159 Oct 13, 2021 Download Report
  • The residential market of Delhi NCR displayed signs of recovery in Jul-Sep 2021. With markets reopening for site visits and construction sites operating in full swing, enquiries and conversions improved, QoQ.
  • Except a few fresh launches and phase-wise additions by reputed developers, residential supply in the city remained muted in Jul-Sep 2021.
  • Unsold inventory in Delhi NCR slipped to 1.3 lakh units in Jul-Sep 2021 as against 1.5 lakh units in Apr-Jun 2021. The period required to dispose of this stock stands at around 60 months.
  • In commercial segment, Warehouse and industrial leasing remained popular for units measuring 500-5,000 sq m in Ecotech, Greater Noida. Pre-leased shops pegged also received enquiries in Central Noida and Noida-Greater Noida Expressway.

 

DELHI NCR REALTY AT A GLANCE

Property Prices
Rental 'Asks'
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

The residential market of Delhi NCR displayed signs of recovery in Jul-Sep 2021. With markets reopening for site visits and construction sites operating in full swing, enquiries and conversions improved, QoQ. Spillover demand and pending property registrations from the previous quarter contributed to record-high growth in sales in Jul-Sep 2021.

Delhi NCR was among the very few markets where new housing supply reeled under pressure in Q3 2021. Amid the hike in raw material cost, builders primarily reevaluated their business strategies and preferred liquidating their existing inventory before launching new projects. Except a few fresh launches and phase-wise additions by Godrej Properties and Signature Global, residential supply remained muted. However, the next quarter is expected to see some extensive campaigns and new
project launches as many developers plan to leverage the festive period.

Amid the demand-supply disequilibrium, unsold inventory in Delhi NCR slipped to 1.3 lakh units in Jul-Sep 2021 as gainst
1.5 lakh units in Apr-Jun 2021. The period required to dispose of this stock stands at around 60 months.

Unlike the previous quarter, the rental market improved in Jul-Sep 2021. With many companies in Gurgaon and Noida regions gradually reopening and societies allowing the entry to new tenants, rental transactions increased, YoY. However, the market is still far from the preCOVID-19 rental occupancy levels.

 

Key micro-markets across budget segments

Key micromarketsAverage Capital 'Asks'Average Rental 'Asks'Rental Yield
Within Rs 40 lakhRaj Nagar Extension3,060-3,57082.87%
Sector 86 Faridabad2,760-3,310103.64%
Rs 40 lakh - Rs 1 croreSector-137 Noida4,420-5,330122.82%
Uttam Nagar3,680-4,450153.72%
Sector-76 Noida4,800-5,550132.89%
Rs 1 crore and aboveSector-78 Noida4,900-6,270142.78%
Vasant Kunj9,900-13,500272.52%
Mayur Vihar - I8,860-12,450242.53%

*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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