Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Industry News

| More

NCR witness 111% jump in new launches

Posted On: 2021-04-06 22:15:11 (Time Zone: Arizona, USA)

Delhi NCR market has performed much better than all other major cities in terms of new launches as the region witnessed a jump of 111% in Q1 2021 over Q4 2020. The next close city is Chennai that saw a jump of 74% in the same period, and Pune with 57%. According to JLL Q1 Residential Market Update - Q1 2021 report, "The markets of Delhi NCR and Chennai witnessed a substantial increase in launch activity during the quarter. New launches are still at 84% when compared to the pre-Covid levels of Q1 2020. Developers across the markets under review remain focused on the completion of under-construction projects and clearing their existing inventory."

Many realtors point this change to the increasing confidence in the market, reflected in the sales figures. According to the JLL report, recovery in NCR was 92% of pre-COVID levels, and sales volume in Q1 2021 increased to 23% over Q4 2020. "The continued increase in sales indicates that demand and customer confidence is returning to the market; this is due to historically low home loan interest rates, stable housing prices, attractive payment schedules and freebies from developers, as well as government incentives. The start of the vaccine campaign has also helped to attract consumers back to the market," says Ashok Gupta, CMD, Ajnara India Ltd.

There were 33,953 new residential units launched in the first quarter of 2021, up 27% from the previous quarter. With 69 per cent of new launches in the sub Rs 1 crore categories in Q1 2021, the growth focus on mid and affordable segments continues. Harvinder Singh Sikka, MD, Sikka Group feels that "Stamp duty reductions, more home loan rate reductions by most banks, and continuing discounts and deals have helped the residential sector make a successful comeback. Several new projects were launched in the October-December timeframe, fuelled by strong sales and positive consumer sentiment."

Compared with Q1 2020, NCR added approximately 6,750 units in Q1 2021, a Y-o-Y increase of 9%; out of the total, approximately 52% of the new supply was in the affordable segment, according to ANAROCK's Q1 2021 data. The data also revealed that the top 7 cities saw around 62,130 new homes launched in Q1 2021 (as opposed to 41,220 units in Q1 2020) - a significant increase of 51% Y-o-Y. "With improved demand and supply in the affordable housing market, the real estate sector, which has been going through a rough patch for the past few years, is gaining traction in Delhi-NCR. In 2020, affordable housing accounted for 40% of demand. Nearly 38 per cent of the overall affordable housing demand in the country came from Delhi-NCR. Gurugram accounted for 32 per cent of total demand in the Delhi-NCR region. Homebuyers have been much more circumspect in their decisions. There is an increasing preference for affordable housing premium projects built by developers with impeccable track record. The new launches by established developers, who have the capability to execute high-quality products, are thriving in the post-covid period," says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global, and Chairman, National Council on Affordable Housing, ASSOCHAM.

With 43% share, mid-segment housing saw the maximum new launches in the quarter, while the affordable housing segment accounted for 30%. According to the Anarock data, the supply of luxury housing (priced >INR 1.5 Cr) also rose by 31% in Q1 2021 against the corresponding period in 2020. "Throughout 2021, housing affordability is expected to remain extremely favorable. If the current perks and benefits continue, we should expect more development in the coming quarters. The uncertainty surrounding employment and income stability is expected to decrease in the coming quarters, based on the expected economic growth trend. Increased consumer trust will have a direct positive effect on the housing market. Maximum demand would be driven by end-users," says Kushagr Ansal, Director, Ansal Housing.

Shares of Ansal Housing Ltd was last trading in BSE at Rs.5.3 as compared to the previous close of Rs. 5.3. The total number of shares traded during the day was 3857 in over 18 trades.

The stock hit an intraday high of Rs. 5.46 and intraday low of 5.3. The net turnover during the day was Rs. 20553.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Pune attracted institutional investments of ~INR 9,600 crore during 2015-20; 77% accounted for offshore investors: JLL

NCML Announces Corporate Name Change to National Commodities Management Services Limited

Bharti AXA Life Insurance appoints Rahul Bhuskute as Chief Investment Officer

SVC Bank clocks record Profit of INR 150.21 Crore in FY 2020-21

64% of outdated Grade A office space in India presents an estimated INR 5,500 crores of untapped investment value: JLL

Compact office demand increasing in post-COVID scenario

Indian data center sector to require $3.7 billion of investment by 2023 to meet demand: JLL

Aluminium Industry reiterates urgency for 5% RoDTEP rate for economic sustainability

Cold chain logistics expected to grow by over 20% CAGR by 2025: JLL

Emerging trends in the consumer durables industry in the 'new normal' - Parag Kulkarni, MD, A. O. Smith India

Five Years of RERA have been transformational for the Realty Industry

Fino Payments Bank goes live with enhanced deposit limit of ₹2 lakh

Ageas Federal Life Insurance launches Saral Pension

Manipal Hosptials completes the acquisition of 100% stake in Columbia Asia Hospitals in India

Leading EV manufacturer Komaki Creates New Battery Technology that boasts of a blistering 220+ km range

Government of Odisha approves 9 new industrial projects worth INR 2570.54 Crore at the 100th SLSWCA meet

SIAM hosts 12th Lecture Series on Hybrid and Electric Vehicles in India: Development, Testing & Homologation

Top 5 Startups Fueling Innovative Financial Inclusion Solutions in India

Tech Trends that will Rule the Gaming Industry in 2021

LIC's Branding Rights of Andheri Metro Station, campaign executed by Times OOH

Bharat Biotech to expand COVAXIN® capacity to support vaccination campaigns in India and Worldwide

Lowering age to 18 yrs for vaccination, decisive step to restore confidence, says ASSOCHAM

Home Credit Partners with SEWA Bharat to restore livelihoods of nano entrepreneurs

Ascendas India Trust secures maiden S$100 million sustainability-linked loan from UOB

Noida International Airport begins the pre-qualification process for airport development and construction tender

Fractional ownership providing boost to Commercial Real Estate

Bharti AXA Life Insurance establishes bancassurance partnership with Fincare Small Finance Bank

Pitstop raises USD 3.5 million in pre-series B funding led by Ventureast

CPAI urges Maharashtra govt to classify stock broking under essential services amid new COVID-19 curbs

BYJU'S to acquire Aakash Educational Services Limited through a strategic merger

Shriram Life Insurance introduces settlement of claims within 12 hours

Ascendas India Trust to invest in a forward purchase acquisition of 1.65 million square feet of an IT Park at Hebbal, Bangalore

JICA signs loan agreement for JPY 10 billion with TCCL for Climate Change Management Project in India

Arcil appoints Mr. Pallav Mohapatra as Chief Executive Officer & Managing Director

Home Credit strengthens its Insurance Portfolio

Yamuna International Airport's proposed term loans rated at 'Provisional IND A-'/Stable by India Ratings

MoU Signing for the Integrated Steel Complex by ArcelorMittal Nippon Steel India at Kendrapara held

SVC Bank bags 'Best Co-op Bank in India 2020' Award at World Leadership Awards

To cash in on retail rush, brokerages shower freebies on investors

SIDBI and NSE joins hands for co-operation in various MSME related initiatives

Honda posts robust 31% growth with 4 lac+ domestic sales in Feb'21

Hyundai Motor India registers cumulative sales of 61,800 Units in Feb'21

SIDBI joins hands with Government of Andhra Pradesh for the Development of MSME ecosystem in the State

Bauxite Average Sale Price (ASP) needs correction for Indian Aluminium to be competitive

Fino Payments Bank is now a scheduled bank

UST Acquires ServiceNow Business from abhra, Inc.

First batch of Sputnik V vaccine delivered to Mexico

Fino Payments Bank to on board 10000 women from SHGs as banking agents in Uttar Pradesh

Liberty General Insurance Rolls Out AI-based Automated Car Inspections

Ageas Federal Life Insurance launches its Life Advantage Plus Plan

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020