New home launches down by 14% in Delhi/NCR during 2015

Q: New Home Launches down by 14% in the Delhi-NCR market during last year to nearly 23000 units due to slowdown in demand.

sadashiva, Delhi

6th January 2016

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Replies (3)

It's true Mukhesh,
Noida Expressway is fast emerging as a mid-segment residential destination with presence of basic infrastructure which attracts end-users, while Noida Extension has established itself as the affordable residential region in Delhi-NCR with one of the lowest capital values.

Mukhesh, Noida

6th January 2016

Comment

HI all,
While to attract buyers, developers have tried to bring down the ticket size of their offerings by either reducing unit sizes or reducing capital values or both. Such efforts from developers have been witnessed across sub markets especially in Southern Peripheral Road, New Gurgaon and Noida.

Mukhesh, Noida

6th January 2016

Comment

@Mukesh,
On the other hand, sub-markets of Noida witnessed relieve of capital values of new launches, while recording a marginal increase in the average size of a 2BHK flat.

The capital values of new launces have softened by 4-5% since 2013. Average size of a 2BHK increased slightly leading to stable or increased ticket sizes.

Kajal, Delhi-NCR

6th January 2016

Right Kajal,
But as a result, the market, which is primarily end-user driven and has relatively lower capital values have witnessed almost stable or increase in ticket size of 2BHK units.

Mukhesh, Noida

6th January 2016

On southern peripheral road in Gurgaon, the primary prices in the sub-market has dropped by 10% compared to 2013, while the apartment size offered by developers in recent projects also in good order to around 1200 sq-ft from earlier 1-400 sq-ft making it slightly affordable for end-users.

Jitendar, Gurgaon

6th January 2016

As per data, about 79% of the units were launched in the locations of Dwarka Expressway, New Gurgaon, Southern Peripheral Road, Sohna, Noida Expressway and Noida Extension in NCR. Out of which half of the total new launches in 2015 were in the mid segment at about 12400 units.

Kajal, Delhi-NCR

6th January 2016

Comment

It also indicates that housing prices of newly launched projects fell by up-to 10% in Delhi/NCR during last year compared with 2013 rates. While in 2015, the Dwarka Expressway and Southern Peripheral Road saw the largest fall in launch prices in NCR of 10% as compared to basic selling price of 2013.

Jitendar, Gurgaon

6th January 2016