Housing sales in Gurugram jump 2X in 2022; Noida-Gr Noida sales up 15%

NewsDrum Desk
22 Jan 2023
Housing sales in Gurugram jump 2X in 2022; Noida-Gr Noida sales up 15%

New Delhi: Sales of residential properties in Gurugram jumped over two-fold to 32,617 units last year on higher demand across all price categories — affordable, mid-income and luxury, according to Anarock.

Housing sales stood at 15,590 units in Gurugram during 2021 calendar year.

Overall, the housing sales in Delhi-NCR rose 59 per cent to 63,712 units in 2022, from 40,053 units in the previous year.

Among the other key micro markets of Delhi-NCR, property consultant Anarock data showed that housing sales in Noida increased by 16 per cent to 6,360 units during 2022 calendar year from 5,460 units in the previous year.

Greater Noida saw a 15 per cent growth in sales of residential properties to 10,985 units last year from 9,575 units during 2021.

Housing sales in Ghaziabad rose 24 per cent to 6,890 units last year from 5,560 units in 2021.

Commenting on Gurugram market, property brokerage firm Inframantra founder Shiwang Suraj said, "The housing sales in Gurugram have been consistently breaking all previous records, especially in luxury and mid-income housing segment. Housing sales in 2022 performed exceedingly well even with higher home loan borrowing rates as new launches were limited which led to demand exceeding supply." Going ahead, Suraj said this trend is expected to continue in 2023 with a possible easing of interest rates in the later part of the year.

Anarock, one of the leading real estate consultants in the country, tracks housing markets of seven major cities.

It releases quarterly data of sales, new launches, price movement and unsold inventories.

According to Anarock, housing sales hit an all-time high in 2022 to nearly 3.65 lakh units across seven major cities, beating the previous high of 2014, on strong demand for residential properties despite a hike in mortgage rates.

Sales rose 54 per cent in 2022 to 3,64,900 units as against 2,36,500 units in 2021 across the seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.

The last peak was seen in 2014 when nearly 3.43 lakh units were sold across the top 7 cities.

Housing sales stood at 3,18,400 units in 2013; 3,42,980 units in 2014; 3,08,250 in 2015; 2,39,260 units in 2016; 2,11,140 units in 2017; 2,48,310 units in 2018; and 2,61,360 units in 2019.

Sales plunged to 1,38,340 units in 2020 due to the pandemic and the imposition of nationwide lockdown to curb the spread of this disease.

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