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NCR - Affordable Housing Sales Share Dips To 24

- NCR recorded 49% jump in avg. residential prices b/w H1 2019 & H1 2024 - MMR saw avg. residential prices appreciate 48% in the period - Massive sales saw NCR witness over 52% 5-year decline in unsold stock - Unsold stock in MMR saw 13% decline in last five years - MMR witnessed massive new supply post-pandemic; NCR saw restricted supply in the period - NCR saw approx. 2.72 lakh units sold; MMR saw sales of 5.50 lakh units

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Arun Chitnis
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11 views3 pages

NCR - Affordable Housing Sales Share Dips To 24

- NCR recorded 49% jump in avg. residential prices b/w H1 2019 & H1 2024 - MMR saw avg. residential prices appreciate 48% in the period - Massive sales saw NCR witness over 52% 5-year decline in unsold stock - Unsold stock in MMR saw 13% decline in last five years - MMR witnessed massive new supply post-pandemic; NCR saw restricted supply in the period - NCR saw approx. 2.72 lakh units sold; MMR saw sales of 5.50 lakh units

Uploaded by

Arun Chitnis
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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NCR - Affordable Housing Sales Share Dips to 24% in

H1 2024, Luxury Up to 45%


 In 2019, affordable housing (<INR 40 lakh) sales share in NCR was 49%, luxury
segment (>INR 1.5 Cr) was just 3%; 2019 saw 23,180 affordable units and 1,580 luxury
units sold

 In H1 2024, approx. 7,730 affordable units were sold, 14,630+ units in luxury segment

 Of total luxury sales in NCR in H1 2024, Gurugram saw the highest at approx. 10,365
units, followed by Noida & Greater Noida together at 3,550 units & remaining 715 units
collectively in Delhi, Ghaziabad, Faridabad & Bhiwadi

 Of total affordable sales in H1 2024, approx. 4,705 units were sold in Gurugram,
followed by other cities with 1,920 units & 1,100+ units in Noida & Greater Noida

 New supply in sync with demand; approx. 16,675 affordable units were launched in
2019, against 2,570+ units in H1 2024; luxury segment saw approx. 4,230 units
launched in 2019, 18,600+ units in H1 2024

New Delhi, 31 July 2024: From epicenter of unscrupulous real estate activities to one of the
country's most vibrant realty markets, NCR has come a long way. The region has seen several
notable trend reversals in the past five years. Among them – housing demand is now heavily
tilted towards the luxury housing segment.

Latest ANAROCK data indicates that out of NCR's total housing sales of approx. 32,200 units
in H1 2024, an over 45% share was in the luxury segment, and 24% in the affordable segment.
Back in 2019, sales of luxury homes were a mere 3% while the affordable sales share stood
at 49%.

In terms of overall sales numbers:

 Approx. 14,630 luxury units were sold in NCR in H1 2024, against approx. 1,580 units
in entire 2019.

 Approx. 7,730 units are sold in the affordable segment in H1 2024, against approx.
23,180 units in 2019.

NCR: Housing Sales in H1 2024 & % Share across Budget Segments


INR 40
< INR 40 > INR 1.5
City Total Units sold Lakh - INR
Lakh Cr
1.5 Cr
NCR 32,200 24% 31% 45%
Gurgaon 17,570 27% 14% 59%
Noida + Gr.
8,425
Noida 13% 45% 42%
Rest of NCR 6,205 31% 57% 12%
NCR: Housing Sales in 2019 & % Share across Budget Segments
INR 40
< INR 40 > INR 1.5
City Total Units Sold Lakh - INR
Lakh Cr
1.5 Cr
NCR 46,920 49% 47% 3%
Gurgaon 13,250 43% 53% 4%
Noida + Gr.
21,770 44%
Noida 52% 4%
Rest of NCR 11,900 66% 33% 1%
Source: ANAROCK Research

Gurugram

Anuj Puri, Chairman – ANAROCK Group, says, “Among all NCR cities,
Gurugram has been the most active real estate market in recent years.
Millennium City saw approx. 17,570 units sold across different budget
segments in H1 2024. Of these, a whopping 59% (approx.10,365 units) were
luxury homes, followed by 27% (approx. 4,710 units) in the affordable
segment.”

“Back in 2019, Gurugram saw approx. 13,245 units sold, of which 43% or approx. 5,740 units
were affordable housing,” says Puri. “The sales share of luxury homes was just 4%, or approx.
470 units.”

Noida & Greater Noida

Noida and Greater Noida together saw approx. 8,425 units sold in H1 2024. Of this, 42%
(approx. 3,550) units were luxury homes and just 13% (approx. 1,100) units were in the
affordable segment. The highest sales share - 3,770 units or 45% - was in the mid and
premium segments priced between INR 40 lakh and INR 1.5 Cr.

In 2019, these two cities together saw the highest sales in NCR – approx. 21,770 units. Of
this, 44% (approx. 9,565) units were sold in the affordable segment, and just 4% (approx. 990)
units were in the luxury segment. The maximum sales of 11,215 units or 52% were in the mid
and premium segments together.

Other Cities

Ghaziabad, Faridabad, Delhi and Bhiwadi together saw approx. 6,205 units sold in H1 2024,
of which the luxury segment accounted for 715+ units, while affordable housing saw 1,920
units sold. The maximum sales of approx. 3,570 units were in the mid and premium segments.

Back in 2019, these cities saw approx. 11,900 units sold, of which the highest share of approx.
7,875 units were in the affordable segment, followed by approx. 3,910 units in the mid and
premium segments. Just 115 units sold were luxury homes.
New Supply Dynamics - City-wise

NCR: New Supply in H1 2024 & % Share across Budget Segments


INR 40
< INR 40 > INR 1.5
City New Units Supply Lakh - INR
Lakh Cr
1.5 Cr
NCR 24,300 11% 12% 77%
Gurgaon 15,530 16% 1% 83%
Noida + Gr.
7,320 1%
Noida 35% 64%
Rest of 1,450 0%
NCR 26% 74%

NCR: New Supply in 2019 & % Share across Budget Segments


INR 40
< INR 40 > INR 1.5
City New Units Supply Lakh - INR
Lakh Cr
1.5 Cr
NCR 35,280 47% 41% 12%
Gurgaon 19,350 53% 33% 14%
Noida + Gr.
7,040 14%
Noida 70% 16%
Rest of NCR 8,890 62% 33% 5%
Source: ANAROCK Research

New supply in the region has followed demand, with developers adding more supply in the
luxury segment and curtailing it in the affordable segment. Out of approx. 24,300 units
launched in NCR in H1 2024 across budget segments, just 2,570 units or 11% were in the
affordable segment – a massive 18,600 units, or 77%, were in the luxury segment.

Contrastingly, in 2019, out of approx. 35,280 units launched in the region, over 47% or approx.
16,680 units were in the affordable segment and a mere 12% (approx. 4,230 units) were in
the luxury segment.

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