According to the latest report from real estate consultants Anarock, the real estate sector appears to be gaining strength following the second Covid wave, with cities in Delhi-NCR boasting housing sales of 10,220 units in the third quarter of this year, compared to 5,210 units in the same period the previous year.
The cities, which include Gurgaon, Noida, and Ghaziabad, had a 96% increase in home sales, a 24% increase in new launches, and a 3% decrease in unsold inventory. While there were 6,810 launches in these cities in the previous third quarter, there were 8,420 launches in the most recent quarter.
While there were 6,810 launches in these cities in the previous third quarter, there were 8,420 launches in the most recent quarter.
With a 129% increase in property sales from 1,680 units sold in Q3 2020 to 3,850 units sold in Q3 2021, Gurgaon leads the way, followed by Noida with a 116% increase from 670 units to 1,450 units. Delhi (100%), Ghaziabad (84%), and Greater Noida are the next cities on the list (58%).
Noida witnessed the largest increase in new launches, up 415%, with 1,030 launches this quarter compared to 200 launches in the same quarter last year. Gurgaon (74%) came in second with 5,510 releases in Q3 2021, compared to 3,170 in the previous quarter. Physical events have also started happening in person.
For example, Messe Frankfurt is currently kicking off a huge trade expo set at India Exposition Mart Ltd in Greater Noida, to be held from 18th to 20th November 2021.
Mr Raj Manek, Executive Director and Board Member of Messe Frankfurt Asia Holdings Ltd. stated, ‘Extremely delighted to be a part of a physical exhibition after such a long time. The return of face-to-face exhibitions is quite a major event as it not only signifies the revival of the exhibition industry, but also plays a huge role in supply chain development of local businesses and contributes to the overall economic growth of India. Through Media Expo New Delhi 2021, Messe Frankfurt aims to deliver strong value to advertising segment by providing a perfect avenue for product sourcing, networking and knowledge sharing.”
Major LED manufacturing brands are flocking to the show floor to showcase their latest innovations in lighting technology.