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Delhi-NCR residential sales grows 43% in Oct-Dec: JLL
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SME Times News Bureau | 13 Jan, 2021
The National Capital Region (NCR) witnessed a quarter-on-quarter growth
of 43 per cent in the sale of housing units during the October-December
period on the back of festive discounts, low interest rates and some
premium launches by established developers, said a JLL report.
However, sales are yet to reach the pre-Covid levels witnessed in 2019, it said.
Noida
continued to dominate sales with 45 per cent share of overall sales in
Delhi-NCR, followed by Ghaziabad, which contributed 31 per cent of the
total sales.
The residential market also rebounded with some
prominent new launches. In Q4 2020, new launches more than tripled when
compared to the last quarter. Majority of the launches were recorded in
Gurugram, which accounted for 61 per cent of the new launches followed
by Noida which contributed 24 per cent of the launches.
"Homebuyers
are increasingly becoming more confident about returning to the market.
Site visits and enquiries from prospective buyers have been increasing
consistently, driven primarily by end-users who are keen in
ready-to-move-in projects and newly launched projects by established
developers," said Manish Aggarwal, Managing Director, Delhi NCR, JLL
India.
The report also noted that the quarter also witnessed the
launch of plotted developments and individual floors by prominent
developers. While prices remained range-bound across all the submarkets,
developers are offering freebies and attractive payment terms to
serious homebuyers.
Overall, residential property sales across the top seven markets in the country rose by 51 per cent as compared to Q3 2020.
It
is important to note that this improvement has been holistic with seven
key residential markets showing an uptick in sales. Mumbai, the
country's largest contributor to sales for the last quarter accounted
for 23 per cent of the overall sales, while the Delhi-NCR market
contributed 20 per cent. Pune saw the maximum increase in sales activity
as compared to the third quarter at 147 per cent growth with 3,323
units sold.
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