Gurugram's housing sales will increase by 13% in 2023, whereas Noida and Greater Noida would see a 7-8% fall, according to Anarock

 Gurugram's housing sales will increase by 13% in 2023, whereas Noida and Greater Noida would see a 7-8% fall, according to Anarock

Gurugram's housing sales will increase by 13% in 2023, whereas Noida and Greater Noida would see a 7-8% fall, according to Anarock

Due to luxury demand, Gurugram's property sales are predicted to increase by 13% in 2023 while those in Noida and Greater Noida are predicted to fall by 7-8%.

Gurugram has witnessed a 13% increase in home sales, while Noida and Greater Noida have seen a 7-8% fall, according to ANAROCK statistics from Delhi NCR.

Housing sales in Gurugram are anticipated to increase by 13% year over year in 2023 owing to strong demand, particularly for luxury homes, according to Anarock statistics on the Delhi NCR market. In contrast, Noida and Greater Noida had a fall of 7-8%.

Sales of residential homes in Gurugram are predicted to increase by 13% to 36,970 units in 2023 from 32,615 units last year, according to data from real estate consultancy Anarock.

Sales in Noida, meanwhile, decreased 8% to 5,840 units from 6,360 units. Sales in Greater Noida fell from 10,985 units to 10,180 units, a 7% decrease. There was an 8 percent decrease from 6,890 units to 6,340 units in Ghaziabad as well.

In 2023, the combined sales of homes in Faridabad, Delhi, and Bhiwadi fell to 6,295 units from 6,860 units in the previous year.

The total number of house sales in Delhi-NCR increased to 65,625 units in 2023 from 63,710 units the previous year, a mere 3% increase. "Since there aren't as many new housing projects being launched in other parts of the National Capital Region (NCR), sales there have decreased," said Prashant Thakur, regional director as well as head of research at Anarock Group, which owns the real estate companies Signature Global, TARC Ltd., and Elan Group. The expansion of several infrastructural projects and the positive attitude of consumers were cited as the reasons for the sales increase in Gurugram.

The surge in sales in Gurugram was ascribed by real estate businesses Signature Global, TARC Ltd, and Elan Group to the positive outlook of consumers and the progress of many infrastructural projects. The demand for mid-income and luxury houses in Gurgaon is rising, fueled by young professionals and nuclear families seeking an aspirational and convenient lifestyle, according to Pradeep Agarwal, Founder and Chairman of Signature Global.

According to him, buyer demand in hotspot locations such as Dwarka Expressway, Southern Peripheral Road, and New Gurugram is significant, resulting in double-digit rise in capital values. "The real estate landscape of Delhi NCR, especially Gurugram, is currently experiencing a renaissance, defying market challenges as well as reflecting strong demand," said Amar Sarin, MD & CEO of TARC Limited.

"Gujarat has become a popular travel destination in the NCR area because of the expanding infrastructure," said Ravish Kapoor, managing director of Allan Group. According to Kapoor, the Dwarka Expressway has become the city's most potential micromarket for the residential sector.