According to Anarock, housing sales in Gurugram dropped by 12% in January-March, while witnessing a surge of 19% in Noida.
Gurugram’s Downturn
Sales in Gurugram’s primary market fell by 12%, plummeting to 8,550 units compared to 9,750 units in the same period last year. This decline was attributed to a lack of new supply due to approval delays.
Noida’s Ascendancy
Conversely, Noida experienced a notable uptick, with housing sales increasing by 19% to 1,600 units from 1,350 units year-on-year.
Expert Insights
Anarock Vice Chairman, Santhosh Kumar, noted Gurugram’s enduring demand despite the dip in sales, predicting a surge in launches post-election. Meanwhile, Yash Miglani from Migsun Group attributed Noida’s growth to infrastructure projects like the Jewar Airport.
Regional Outlook
Greater Noida saw a 19% decline in sales, while Ghaziabad, Faridabad, Bhiwadi, and Delhi remained relatively stable.
Future Projections
Despite the slowdown, experts anticipate Noida’s momentum to persist, driven by ongoing infrastructure developments, while Gurugram awaits a resurgence post-election. Shiwang Suraj of InfraMantra highlighted a shift towards premium projects in the Delhi-NCR market.
| Location | Sales Trend | Units Sold (Jan-Mar) | Change (%) |
|---|---|---|---|
| Gurugram | Decrease by 12% | 8,550 | -12% |
| Noida | Increase by 19% | 1,600 | +19% |
Conclusion
As housing trends diverge between Gurugram and Noida, strategic infrastructure projects and market dynamics continue to shape the real estate landscape in the Delhi-NCR region.
Also read: Mumbai Real Estate Shines Bright: March Sees Resilient Sales Amidst Market Challenges