NCR sets the stage for festive home bonanza

The good pace of home sales maintained in the September quarter in the NCR and Mumbai markets, holds hope for an impressive festive season ahead for residential real estate. 

According to a report by a leading IPC, JLL, NCR along with Mumbai accounted for 21percent each of the total home sales across top seven cities pan India in September quarter.Sales of more than 32300 residential units were recorded in Q3 2021 against 19635 units in Q2 2021, demonstrating a substantial increase of 65 percent  quarter-on quarter. Home sales in the six months to 30 September increased by 47 percent  from a year earlier across the top seven cities . This fast pace of recovery is also reflected through impressive pick up in new launches. During the September quarter as many as 32863  units were launched  as part of the new launches across seven cities across India. This amounts to a significant qoq increase of 21 percent.  

Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global and Chairman , Assocham National Council on Real estate & Housing, “This commendable pick up in housing sales and new launches ahead of the festive season bodes well for the real estate recovery. What is really promising for the affordable housing is that most of the sales and new launches happened in the affordable and mid-price segment. The pick-up in economy with the opening up of businesses amidst receding covid and increasing vaccination coverage, will lead to rise in consumer sentiment, which in turn will ensure healthy home sales in the festive quarter.

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