Residential Sales up 50% in Noida & Greater Noida, drop 52% in Gurugram

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Overall housing sales of apartments in Greater Noida and Noida increased by 51% to 5,715 units during April-June period, however fell by more than half in Gurugram to 1,922 units, according to realty experts.

Gurugram witnessed a drop in the new launches of affordable housing units.

Recent research held by realty expert for April-June 2018 reveals:

Overall housing sales fell by 2% to 61,639 units in top nine cities during April-June 2018 compared with 63,166 units in the year-ago period.

The rate of launches of new homes degraded by 20% to 41,839 units during the second quarter of 2018 calendar year from 52,218 units in the corresponding year of the previous year.

Unsold inventory across nine markets – Noida, Gurugram, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, Ahmedabad, Kolkata declined by 9% year-on-year to 7.5 lakh units.

As per the statement of a realty expert,

This was a decent quarter for the real estate sector and the numbers clearly reveals the fact that the market is modifying for betterment.

According to the expectation of the expert, both the new launches as well as sales will improve in the next two quarters driven by an uptake in economy and stabilization of regulatory infrastructure.

Cities like Mumbai, Pune, Bengaluru and Noida have shown substantial improvement in the last quarter and thus has been anticipated as the star markets in the year 2018.

Numerous launches are in pending in quarter, as the developers are waiting for the festive season to roll out several new projects. On one hand where there was a down take in the launch of new projects in Mumbai and Pune, building up of apartments in Greater Noida, Noida, Hyderabad, Bengaluru and Chennai was on uptake.

Last year the second quarter was a quirk, as the builders advanced launches for avoiding approvals under the RERA regime.

According to real estate experts, apartment or housing sales in Gurugram (including regions such as Bhiwadi, Dharuhera and Sohna) degraded by 52%, that could be easily attributed to a drop in new launches of affordable apartment units.

The report further added the fact that the real estate developers were quite aggressive in sales efforts and marketing during the period as ‘Majority of the developers are saving their marketing budgets for the upcoming festivals.’

According to data, apartment sales in Ahmedabad declined by 51% to 2,014 units, while it fell by 1% in Bengaluru at 8,253 units.

Recently Chennai saw a down take of 11% in sales at 4,384 units, however Hyderabad on the other hand witnessed a drop of 23% to 4,199 units. While researching about Kolkata, it has been found that housing sales their declined by 30% to 2,718 units.

In Mumbai, housing sales increased by 15% to 21,827 units during April-June 2018 from 18,987 units in the year-ago period. Pune experienced an increment of 9% at 10,609 units.

So, this was about increment in the sales of apartments in Greater Noida and Noida by 50% and decrements in Gurugram by 52%.

Hopefully, seeing the stats, now you would like to prefer apartments in Greater Noida & Noida for living.

If so, then here it is advised to go for FairPockets, as being a unique fair price property portal, it aims at providing you with properties from the renowned real estate companies in Noida. At FairPockets, residential or commercial properties are provided at the best affordable prices.

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