NCR Housing Inventory Declines Sharply
Real Estate

NCR Housing Inventory Declines Sharply

The National Capital Region (NCR) has witnessed a remarkable 57% reduction in unsold housing inventory over the past five years, marking the highest decline in the country. From approximately 200,000 units at the end of the first quarter of 2018, the unsold stock plummeted to 86,420 units by the end of the first quarter in 2024. This trend reflects a significant upturn in the residential real estate sector, driven by increased demand and strategic market adaptations by developers.

Particularly noteworthy are the areas of Greater Noida and Ghaziabad, where unsold inventories have decreased dramatically. Greater Noida saw a reduction of 70% in its unsold stock since the first quarter of 2018, while Ghaziabad's unsold inventory declined to 11,011 units from 37,005 units during the same period. Noida also reported a substantial decline, with unsold units dropping to 7,451 from 25,669.

This positive shift is anticipated to spur a wave of new residential projects, especially in the luxury segment, as developers respond to a recovering market and growing consumer confidence. The decline in unsold stock is partly attributed to changing consumer behaviors post-COVID-19, with an increased number of buyers preferring to own homes rather than rent. This shift has been supported by various factors, including favorable property prices and government incentives such as GST rate cuts.

The reduction in unsold housing inventory is a significant indicator of market recovery in the NCR, suggesting a healthier balance between supply and demand. This is expected to stabilize property prices and encourage further investments in the region's real estate sector. As the market continues to recover, the focus on nearly completed or ready-to-move-in apartments is likely to persist, appealing to buyers eager to avoid risks associated with under-construction projects.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The National Capital Region (NCR) has witnessed a remarkable 57% reduction in unsold housing inventory over the past five years, marking the highest decline in the country. From approximately 200,000 units at the end of the first quarter of 2018, the unsold stock plummeted to 86,420 units by the end of the first quarter in 2024. This trend reflects a significant upturn in the residential real estate sector, driven by increased demand and strategic market adaptations by developers. Particularly noteworthy are the areas of Greater Noida and Ghaziabad, where unsold inventories have decreased dramatically. Greater Noida saw a reduction of 70% in its unsold stock since the first quarter of 2018, while Ghaziabad's unsold inventory declined to 11,011 units from 37,005 units during the same period. Noida also reported a substantial decline, with unsold units dropping to 7,451 from 25,669. This positive shift is anticipated to spur a wave of new residential projects, especially in the luxury segment, as developers respond to a recovering market and growing consumer confidence. The decline in unsold stock is partly attributed to changing consumer behaviors post-COVID-19, with an increased number of buyers preferring to own homes rather than rent. This shift has been supported by various factors, including favorable property prices and government incentives such as GST rate cuts. The reduction in unsold housing inventory is a significant indicator of market recovery in the NCR, suggesting a healthier balance between supply and demand. This is expected to stabilize property prices and encourage further investments in the region's real estate sector. As the market continues to recover, the focus on nearly completed or ready-to-move-in apartments is likely to persist, appealing to buyers eager to avoid risks associated with under-construction projects.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000