Robust gross sales and restricted new provide helped the National Capital Region (NCR) outpace the opposite prime cities in decreasing its housing stock overhang by 53 months, exhibits newest ANAROCK Research.
NCR’s stock overhang stood at 80 months as of Q2 2021, and decreased to 27 months in Q2 2022. Since Q1 2015, Q2 2022 has seen the bottom stock overhang in Delhi-NCR, indicating a really beneficial residential market state of affairs in a really very long time.
“Inventory overhang basically reflects the sales velocity at a given time,” says Prashant Thakur, Sr. Director & Head – Research, ANAROCK Group. “Inventory measured in months indicates the number of months it will take for the current unsold housing stock on the market to sell at the current absorption rate. NCR saw its unsold stock decline by 16% on yearly basis – from approx. 1,68,710 units in Q2 2021-end to approx. 1,41,240 units as of Q2 2022-end.”
With exceptional restraint on this beforehand extremely speculative market which noticed an unrealistically excessive variety of initiatives launched in earlier years, builders in Delhi-NCR have restricted their new provide regardless of sturdy gross sales. Merely 4,070 items have been launched in Delhi-NCR in Q2 2022.
Delhi-NCR Unsold Stock:
* Of the full unsold stock in NCR, Gurugram presently has the utmost inventory of round 59,120 items, which decreased by 7% on quarterly foundation.
* Greater Noida has greater than 28,875 unsold items as of Q2 2022-end, and decreased its inventory by 8% on a quarterly foundation.
* Ghaziabad noticed its unsold inventory decline to 17,990 items in Q2 2022 from 18,900 items in Q1 2022 – a 5% quarterly decline.
* Noida has approx. 12,150 items of unsold inventory by Q2 2022-end, in opposition to 13,800 items in previous quarter of 2022 – a decline of 12%.
* Delhi, Faridabad and Bhiwadi collectively have approx. 23,100 unsold items by Q2 2022-end – a 6% decline from 24,700 items by Q1 2022-end.
Delhi-NCR New Housing Supply:
As per ANAROCK information, total new housing provide in Delhi-NCR declined by 56% on quarterly foundation – from 9,300 items in Q1 2022 to just about 4,070 items as of Q2 2022.
* Gurugram noticed most launches of two,830 new items in Q2 2022, comprising a 70% share of the full new launches in total NCR. On a quarterly foundation, Gurugram noticed a decline of 64% in new provide – from 7,890 items in Q1 2022 to 2,830 items in Q2 2022.
* Noida noticed no new provide in Q2 2022, whereas Greater Noida noticed simply 390 new items launched in Q2 2022. Developers are consciously proscribing new provide into these two markets.
* Ghaziabad noticed approx. 740 new items launched in Q2 2022. In previous quarter of 2022, town noticed new provide of 220 items.
* Faridabad, Delhi and Bhiwadi collectively noticed simply 110 new items launched in Q2 2022, in sharp distinction to 920 items launched within the first quarter of 2022.
Delhi-NCR Residential Sales:
Approx. 15,340 houses have been offered in NCR in Q2 2022 – the second-highest after MMR. On a quarterly foundation, gross sales decreased by 19% – in Q1 2022, approx. 18,835 items have been offered throughout NCR.
* In Gurugram, housing gross sales decreased by 14% on a quarterly foundation – from approx. 8,850 items in Q1 2022 to approx.. 7,580 items in Q2 2022.
* Noida noticed approx. 1,650 items offered in Q2 2022, as in opposition to 2,045 items within the previous quarter – reducing by 19%.
* Greater Noida noticed gross sales lower by 20% on a quarterly foundation. 3,450 items have been offered in Q1 2022, and a pair of,750 items in Q2 2022.
* Ghaziabad, which noticed 2,080 items offered in Q1 2022 and 1,650 items in Q2 2022, noticed a quarterly lower of 21%.
* Faridabad, Bhiwadi and Delhi collectively noticed approx. 1,710 items offered in Q2 2022, in opposition to 2,410 items in Q1 2022 – declining by 29%.