According to the report, the offer of new housing units in Delhi-NCR in the first half of the 2021 calendar year (H1 2021) also increased by 107 percent to 2,943 units from 1,422 units in 2020.
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Real estate market research and consulting company Knight Frank India said that despite the second wave of COVID-19, sales of homes in Delhi-National Capital Region (NCR) between January and June this year Year-on-year growth of 111 percent to 11,474 units. Last year this number was 5,446. Knight Frank India released its report ‘India Real Estate – Residential, January-June 2021’ for eight cities – Mumbai Metropolitan Region (MMR), Delhi-NCR, Kolkata, Chennai, Bengaluru, Hyderabad, Pune and Ahmedabad in a webinar .
According to the report, the offer of new housing units in Delhi-NCR in the first half of the 2021 calendar year (H1 2021) also increased by 107 percent to 2,943 units from 1,422 units in 2020.
Due to this increased sales
Mudassir Zaidi, Executive Director (North), Knight Frank India, said, “The home market in Delhi NCR had to bear the impact of the first wave of the pandemic as uncertainty prevailed everywhere. According to the report, flexibility in payment options by developers coupled with low interest rates, and incentive schemes like stable home prices re-inspired people’s home buying sentiment.
According to a Knightfrank report, home sales in NCR began to show a resurgence, particularly during Q1 2020 and Q4 2020, and the trend continued in Q1 2021 as well. Homebuyers were encouraged by incentive schemes from developer companies such as flexibility in payment options with low interest rates, and stable home prices.
NCR has the highest number of home sales of more than Rs 1 crore in the first half of 2021 in terms of price category. The share of houses in this category in the total sales stood at 39% as compared to 28% in H1 of 2020. Similarly, the share of houses below Rs. 50 lakhs stood at 36% as against 41% in H1 of 2020. With this, the share of sales of homes priced between Rs 50 lakh and Rs 1 crore declined to 25% in the first half of 2021 from 31% in the first half of 2020.
According to the report, there was a significant improvement in the sales of new homes in Gurugram in terms of numbers during this period. Its share in total sales increased from 27% in the first half of 2020 to 32% in the first half of 2021. The position of Greater Noida region in the total sales remained at its previous level with 34% share. Noida’s share saw a decline during this period, which declined from 18% in the first half of 2020 to 15% in the first half of 2021.
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