NCR saw housing sales increase by 73% - from 23,210 units in 2020 to 40,050 units in 2021. With this performance, NCR comes second only to MMR in terms of sales during the whole of 2021.
Author: Santhosh Kumar
Santhosh Kumar is Vice Chairman of the ANAROCK Group, India's leading real estate services group in India with diversified interests across the real estate value chain. He is based out of ANAROCK’s Gurgaon office, with all the Group's India city leads and its Dubai office reporting to him.
The average size of independent/builder floor flats outstrips that of apartments, and the average sizes have been increasing over the period. In contrast, apartment sizes were shrinking until 2021 (post the pandemic).
Noida accounted for the maximum new luxury share (73%) in the first half of this year, followed by Gurugram with a 22% share, and Greater Noida with a 5% share.
In Bengaluru, the affordable and mid-segments are driving residential demand. Given the good sales, developers saw it opportune to increase the average prices
Affordable and mid-segment housing continued to drive homebuyer demand in 2020, but luxury sales also saw some momentum in NCR despite the pandemic.
A home office, previously considered a luxury or even completely unnecessary, is now an important feature.
the Q3 2020 base period saw nearly 29,520 units sold across the top 7 cities - much lower than the pre-COVID-19 quarter (Q1 2020) which saw nearly 45,200 homes sold. This effectively results in a larger scope for growth.
Second homes are now a tantalizing vision of shelter in the time of storm – and a rebooted lifestyle which would have been considered neither feasible not possible in pre-COVID-19 times.
At this point, does it make more sense to buy or rent a home? There are arguments for and against either option in the post-COVID-19 landscape.
Multi-level warehouses within city limits may well be Indian real estate's next big thing in a market completely transformed by the coronavirus pandemic.