Delhi-NCR Residential Property Supply to Triple Amid Strong Demand

The supply of residential properties in Delhi-NCR is projected to triple in the July-September quarter, reaching over 13,300 units, according to PropEquity. This surge is partly due to strong consumer demand. Housing sales in the region are expected to increase by 22% during this period.

Delhi-NCR's residential property supply is expected to triple in the July-September quarter, reaching over 13,300 units, as developers aim to capitalize on rising demand, PropEquity reports.

The real estate analytics firm projects new housing launches at 13,311 units this quarter, up from 4,147 units year-on-year. Housing sales in the region are anticipated to surge by 22%, from 8,411 to 10,263 units during this period.

The increase in fresh housing supply and robust consumer demand are key factors driving the sales growth in Delhi-NCR. However, new launches across nine major cities, including Mumbai, Bengaluru, and Chennai, are expected to decline this quarter. The total units launched may drop to 93,693 from 1,05,655 units last year, with an 18% decline in sales across these cities.

(With inputs from agencies.)