E-Paper
Housing sale slows down in second half of year
Gurugram There was a 22 per cent reduction in housing sales in the second half of 2019 as compared to the first six months in the top seven real estate markets in
Gurugram There was a 22 per cent reduction in housing sales in the second half of 2019 as compared to the first six months in the top seven real estate markets in the country. Of the total 2.61 lakh units sold this year, more than 56 per cent (1.47 lakh) were sold in the first six months, states a report by real estate consultant, Anarock.
Overall, the housing sales increased by five per cent in 2019 from 2018, it said.
In the National Capital Region (NCR), the housing sales witnessed in the first half of the year stood at 26,380 while the second half saw sales of 20,540 units, according to the report. In the total year, the sale of residential units in Gurugram stood at 13,240, the second-highest sales in NCR cities. In comparison, Noida saw the sale of 6,630 units, while Greater Noida netted the maximum sales with 15,150 units. In Ghaziabad, 7,860 units were sold, whereas the number stood at 1,630, 620 and 1,790 units, for Faridabad, Delhi and Bhiwadi, respectively.
According to experts, the low level of liquidity, cash crunch, debacles faced by non-banking finance companies and poor consumer sentiment major reasons for the slowed sales trajectory in the second half of 2019. “Sales happened but the pace was not steady and it slowed during the end of the year. Even the festival season did not push up sales,” said Sanjay Sharma, a realty consultant.
As per the study, Gurugram saw the maximum number of housing launches, at 19,530 units, which is 58 per cent of the total 35,820 units. In comparison, Noida witnessed the launch of 2,950 units, Greater Noida witnessed the launch of 4,090 units, Ghaziabad witnessed the launch of 2,430 units, Faridabad witnessed the launch of 2,860 units, Delhi witnessed the launch of 2,260 units and Bhiwadi witnessed the launch of 1,340 units.
Launches were limited in Noida and Greater Noida, which helped reduce the existing stock, compared to last year. On the contrary, Gurugram saw its unsold stock increase by 12% in 2019 compared to 2018 — from 51,840 units in 2018-end to over 57,940 units in 2019-end.
Gurugram has the maximum unsold stock in the entire NCR as on 2019-end. Last year, Greater Noida had the maximum unsold stock, the report stated.
Anuj Puri, chairman, Anarock Property consultant, said that residential growth in 2020 will mainly depend on the swift on-ground implementation of some of the previously announced sops, including stressed funds. “A major part of the residential growth will most likely unfold in the second half of 2020. And, the financially stronger players will stay ahead in the game,” he said.
