The Delhi-NCR property market has maintained its momentum during the December quarter, with housing sales and new supply estimated to grow by 25 per cent and 59 per cent, respectively, as reported by PropEquity.

Data from the real estate analytics firm suggests that housing sales in Delhi-NCR are likely to rise to 12,915 units during the October-December period of this year, compared to 10,354 units in the corresponding period of the previous year. New supply in the region is expected to increase significantly, reaching 11,223 units, a 59 per cent rise from 7,072 units in the year-ago quarter.

PropEquity’s data further highlighted that Delhi-NCR stands out among nine major Indian cities as the only market projected to witness an increase in both sales and new supply during the current quarter. Conversely, markets in Bengaluru, Pune, Hyderabad, Chennai, Kolkata, Mumbai, Navi Mumbai, and Thane are expected to experience declines in these metrics.

Across the nine major cities, total housing sales are estimated to drop by 21 per cent year-on-year during the October-December period, falling to 1,08,261 units from 1,37,225 units in the same quarter last year. Fresh housing supply across these cities is also forecasted to decline by 33 per cent, with 85,765 units expected during this period, compared to 1,27,936 units in the previous year.

Samir Jasuja, CEO and founder of PropEquity, attributed the annual decline in total housing sales and new launches to a high base effect.

Manoj Gaur, CMD of Gaurs Group, noted that the data underscores Delhi-NCR’s growing prominence in India’s real estate market. He pointed out that the region is solidifying its position as a global corporate hub, aided by the progress in constructing the Noida Airport. Gaur further observed that the housing market in Delhi-NCR is attracting demand from end-users, investors, and non-resident Indians.

Akash Khurana, President and CEO of Krisumi Corporation, commented on the robust performance of Delhi-NCR's residential market over the past couple of years. He attributed the strong demand to steady economic growth, significant infrastructure development, and increased supply from reputed builders. Khurana also highlighted that micro-markets like Gurugram’s Dwarka Expressway continue to draw homebuyers and emphasised a promising outlook for residential real estate in the region.

Madhur Gupta, CEO of Hero Realty, remarked that Gurugram has witnessed a significant infrastructure boost this year, citing the inauguration of the Dwarka Expressway and the on-going metro expansion as major milestones. He suggested that these developments indicate further growth potential for the NCR real estate market.

Garvit Tiwari, Director and Co-Founder of InfraMantra, noted that the Delhi-NCR market performed exceptionally well during the festive season compared to the previous year. Tiwari attributed the demand to both local branded developers and established builders from West and South India, alongside advancements in infrastructure.

PropEquity, owned by PE Analytics, a company listed on the NSE, monitors over 1,70,000 projects from more than 57,000 developers across 44 cities in India.