“Nearly 15,000 housing units were sold in the third quarter of 2022 in NCR, accounting for 17% of overall residential sales in the top seven cities," it said.
Within NCR, Gurugram accounted for nearly 54% of total sales in Q3 2022, up 5% on quarter. Greater Noida came in second with roughly 16% of sales, followed by Ghaziabad and Noida with 11% and 9 %, respectively.
Faridabad, Delhi and Bhiwadi, accounted for 10% of housing sales in the current quarter.
NCR witnessed the highest year-on-year decline in new launches among the top seven cities, and accounted for 7% of the total new supply in Q3 2022.
“Approximately 6,400 new residential units were launched between July and September 2022. In comparison to the previous quarter, new launches grew by 57%, but saw a 24% decline on a year-on-year basis," said the report.
In contrast to the preceding quarter, the mid-end segment surpassed the number of affordable housing launches to become the top launched price bracket among developers in the current quarter, accounting for 35% of new supply.
NCR also registered the highest drop in inventory and available supply on a quarterly basis.
“Accounting for 21% of the total available stock across the top 7 cities, the available inventory in NCR was at 1.32 lakh units by the end of Q3 2022. NCR sees the highest decline among the top cities by 6% against the preceding quarter. On a yearly basis, the available residential stock declined by 21%," said the report.
