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NCR Housing Market Sees Resurgence in Q2 2019

Anuj Puri, Chairman – ANAROCK Property Consultants

  • New housing launches in NCR increased by a whopping 69% in Q2 2019
  • NCR saw the least decline in absorption numbers at about 8%
  • Gurgaon saw highest launches in Q2 2019 – increase by 36%
  • Unsold stock in NCR increased by a marginal 1%

In comparison to other major markets, NCR’s real estate sector was quite active in Q2 2019 with new launches increasing by a whopping 69% in the quarter against the previous one. New housing launches stood at 13,570 units in Q2 2019 against 8,030 units in Q1 2019.

Housing absorption across the main cities saw a quarterly decline – however, NCR saw the least decline in absorption numbers at about 8%. Housing sales in all cities within NCR collectively stood at 12,640 units in Q2 2019 against 13,740 units Q1 2019.

All in all, the NCR real estate market is gradually seeing increased traction. The sops offered by the government in the Budget may further help the market to pick up momentum in the remaining quarters of 2019.

NCR Cities: New Launch Supply

  • Gurgaon saw the highest launches in the quarter – housing supply in Millennium City increased by 36%, from 5,140 units in Q1 2019 to nearly 7,000 units in Q2 2019.
  • Greater Noida saw the new launch of nearly 2,270 units in Q2 2019 as against 590 in Q1 2019.
  • Noida saw new launches of nearly 1,580 units in Q2 2019 as against 740 units in Q1 2019.
  • Delhi saw the new supply of nearly 1,100 units in Q2 2019 as against 400 units in Q1 2019.
  • Ghaziabad and Faridabad saw the new supply of nearly 690 and 880 units respectively.

City-wise New Supply

Cities Name  Q2 2019  Q1 2019 Q2 2018
Gurgaon 7,000 5,140 1,150
Noida 1,580 740 510
Greater Noida 2,270 590 3,990
Ghaziabad 690 0 2,070
Faridabad 880 60 760
Delhi 1,100 400 0
Bhiwadi 50 1,100 0
Total 13,570 8,030 8,480

Source: ANAROCK Research

NCR Cities: Housing Absorption in Q2 2019

As per ANAROCK data, housing sales in NCR cities collectively saw a quarterly decline of 8% – the least amongst all top cities – while the yearly rise stood at 13% in the region. In fact, NCR saw the third highest jump in housing sales in a year after MMR and Pune.

  • Greater Noida saw the maximum housing absorption in Q2 2019 at about 4,075 units
  • Gurgaon came next with nearly 3,580 units sold in the quarter. (While both Greater Noida and Gurgaon saw a yearly jump in housing absorption of nearly 20% and 22% respectively, they saw absorption decline by 9% and 7% respectively on a quarterly basis.)
  • Noida saw housing sales decline by 6% in Q2 2019 against Q1 2019.
  • On a yearly basis, Ghaziabad stood out from the other cities with housing absorption increased by 35% in Q2 2019 as against Q2 2018.

NCR: Total Absorption

Cities Name  Q2 2019  Q1 2019  Q2 2018
Gurgaon 3,580 3,840 2,925
Noida 1,785 1,900 1,540
Greater Noida 4,075 4,490 3,410
Ghaziabad 2,120 2,260 1,565
Faridabad 420 500 640
Delhi 180 170 180
Bhiwadi 480 580 875
Total 12,640 13,740 11,135

Source: ANAROCK Research

NCR: Unsold Inventory

In terms of overall unsold stock in the entire NCR, there was a slight increase of 1% in Q2 2019 as against Q1 2019. However, on a yearly basis, the entire region saw its unsold stock decline by 8% – from 1,97,807 units in Q2 2018 to 1,81,927 units in Q2 2019.

  • Faridabad saw the maximum rise in its total unsold stock in Q2 2019 by about 10%
  • Gurgaon added 6% to its total unsold stock as against Q1 2019. (Interestingly, Gurgaon saw its unsold stock increase by 10% in a year – from 51,357 units in Q2 2018 to nearly 56,552 units in Q2 2019.)
  • Ghaziabad saw the unsold stock decline by 5% in Q2 2019 over the preceding quarter
  • Greater Noida saw the unsold stock decline by 3%
  • Noida saw the unsold stock decline by 1%

NCR: Unsold Inventory

Cities Name  Q2 2019  Q1 2019  Q2 2018
Gurgaon 56,552 53,133 51,357
Noida 20,857 21,060 24,634
Greater Noida 50,813 52,617 62,204
Ghaziabad 30,254 31,683 37,510
Faridabad 5,178 4,725 5,225
Delhi 12,339 11,418 10,384
Bhiwadi 5,934 6,363 6,493
Total 1,81,927 1,80,999 1,97,807

Source: ANAROCK Research

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