Delhi-NCR Luxury Housing Supply Share Rises in 2020
Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants “Noida accounted for the maximum new luxury share (73%) in the first half of this year, followed by Gurugram with a 22% share, and Greater Noida with a 5% share. Other NCR cities including Delhi, Ghaziabad, Faridabad and Bhiwadi saw no new luxury housing launches in this period. Some of the leading developers that launched new luxury housing supply in NCR in 2020 and 2021 were Godrej Properties Limited, Sobha Limited, DLF Group, ATS Green, and Birla Estates, among others.” Backed by robust sales in the luxury segment amid the pandemic, Delhi-NCR developers saw it an opportune time to once again increase new luxury housing supply. Year 2018 Of approx. 26,010 units launched in 2018 in NCR, approx. 14% was in the luxury and ultra-luxury segments combined. Of this, Gurugram accounted for the highest share of 42%, followed by Greater Noida with 36% and Delhi with 18%. Year 2019 In 2019, of approx. 35,280 units launched in the entire region, luxury housing had a 12% share. Of the total new luxury supply, Gurugram had a 63% share, followed by Greater Noida with 15%, Noida with 13% and Delhi with 9%. Year 2020 In 2020, approx. 18,530 units were launched in NCR, of which the luxury segment comprised a mere 9% share. Of this luxury supply, Gurugram accounted for 63% while Ghaziabad and Noida accounted for 17% and 16% respectively. Year 2021 In H1 2021, approx. 10,570 units were launched in NCR, of which 17% was in the luxury segment. Of this total luxury supply, at least 73% was in Noida, followed by 22% in Gurugram, and just 5% in Greater Noida.
Tags : Interviews Delhi-NCR Noida Greater Noida ANAROCK Property Consultants Santhosh Kumar Luxury Housing 2020 Rise Supply Share