Gurugram saw highest housing sales, launches in NCR in 2021: Anarock report

The city reported the highest sale of residential units in the National Capital Region (NCR) in 2021, followed by Greater Noida, according to a report by Anarock released on Thursday.

The report said the city reported the sale of 11,990 units last year–a 115% increase compared to the previous year’s sales. The city also reported the maximum number of real estate unit launches across Delhi-NCR.

The report said that of the 31,710 units launched in NCR in 2021, Gurugram launched 58%. In comparison, Greater Noida reported the sale of 9,580 units and the launch of 3,930 new units.

According to the report, NCR’s housing sales increased by 73% from 23,210 units in 2020 to 40,050 units in 2021. During the pre-Covid-19 period in 2019, total sales in the region were approximately 46,920 units. So in 2021, housing sales in NCR have already reached 85% of the pre-pandemic level, the report said.

Realtors and realty experts in Gurugram said that 2021 saw the return of the end-users and several first-time buyers. The easy availability of low-cost loans, sops announced by the government, and discounts given by developers helped the market revive.

Pradeep Aggarwal, a city-based developer and chairman, Signature Group, said that the affordable segment of housing witnessed an all-time high demand in 2021. “Many end-users bought homes in the affordable segment as Covid-19 made them realise the importance of owning their own home. Gurugram has emerged as a key market for affordable housing and also independent floors–and these have really picked up. We are expecting better business in 2022,” he said.

Anuj Puri, chairman, Anarock Group, said, “Of the four quarters, quarter four of 2021 was by far the best, with housing sales in the top seven cities attaining a new high of approximately 90,860 units. This was the highest quarterly sales performance since 2015.”

City-based brokers said that after May 2021, the market gained momentum, and the leads generated in the next three months after May were converted into sales in the last quarter of the year.

“Despite the pandemic, we are seeing that there is a correction in prices by 10% to 15% in many areas. The ready-to-move-in properties are now being sold at a premium,” said Sanjeev Thakur, a city-based broker.

Another trend witnessed in the city was a higher demand for larger flats and houses. “There is a 20% to 30% increase in sales because during lockdown everybody felt that homes are very important for a family and the size of their homes should be larger. There has also been a demand for organised retail spaces, and SCOs [shop-cum-offices] have emerged as major attractions in this category, particularly to investors,” said Gurpal Singh Chawla, director, Spaze Group.