NCR becomes the home buyer market, with prices showing negligible appreciation



The market in NCR has been witnessing a healthy launch, and looking at the buyer favoring price trend the mood is optimistic. As against 940 units in Q3, a total of 5,120 units were launched in the NCR during the Q4. This is also much higher than the 2,501 fresh launches seen in Q4 2019; big news for the sector is that 87% of the new launches were made in the up to Rs 45-lakh price bracket during the quarter.

Most of the real estate markets in top eight cities have witnessed a price increase of 2% to 7% except for the NCR and Mumbai where the prices have remained same year-on-year. The two strongest markets have shown no increase in prices, which is welcome news for the buyers who want to finalize the deal. With sales figures going up in the market, the price factor is also likely to have an impact on unsold inventory as well.

According to Real Insight Q4 2020, a quarterly analysis of India’s eight prime residential markets by real estate brokerage firm PropTiger.com, sales have increased by 37% q-o-q in NCR and 148% in MMR, reflecting the boost market has got from the favorable pricing in the market. The average rate of newly-launched projects in NCR market is Rs 4,268 per square foot as on December 31, 2020.

Mr Pradeep Aggarwal, Founder & Chairman, Signature Global Group, Chairman, ASSOCHAM, National Council on Real Estate, Housing and Urban Development, says, “The buyers in NCR are witnessing the best time to invest in real estate. Apart from affordable housing, they also have favourable price trends in other segments. As the economy will recover, the prices are likely to go up due to various factors that affect the pricing. People have realized the importance of owning a home, and this feeling is going to persist.”

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