Delhi NCR signed up brisk sales of house in the calendar year 2022, signing up a 19% jump over the previous year. According to the real estate consultancy PropEquity, the total sales of property in Delhi NCR stood at 32,789 units in 2022 as compared to 27,553 systems in the previous year.

The cities considered in the Delhi NCR were, New Delhi, Gurugram, Faridabad, Noida, Greater Noida, and Ghaziabad.

Whereas, the sector wise classifications were; Affordable- Less than 75 lacs, Mid- 75 lacs to 1.5 crores, Luxury- More than 1.5 crores Delhi NCRs weighted average rate of the houses sold in 2022 has jumped by a massive 33% at Rs 9,512 per square feet as compared to in 2015.

The average cost of new launches in 2022 has soared by 64% at Rs 10,958 per square feet as compared to the previous year.

Although the realty business are introducing new projects at substantially higher rates, there is sizable demand and healthy absorption of these jobs.

About 48% of all sales of home in 2022 were accounted for by high-end sector homes. In terms of brand-new launches, Delhi NCR experienced negative growth of 28% in 2022 at 15,699 units as compared to the preceding year.

The inventory overhand stood at 15 months at the end of 2022 based upon the present rates of sales of homes.

The stock overhang has dropped since the total sales are practically two times the brand-new launches.

There will be new launches in the coming year as a result of this boost in need. The high-end segment had the largest share of houses in both new launches and sales.

The majority of the house purchasers preferred the high-end segment of real estate.

The share of the affordable section (ticket price less than 75 lacs) of houses stood at 17% which of the luxury segment was 70% amongst the new launches.

As far as sales are worried, the share of the budget friendly classification of homes stood at 39% which of the high-end section was 48%. Delhi NCR is one of the most dynamic property real estate markets in the country and the dynamism played out to the brim in 2022 with the sales and weighted typical rate of the homes going up substantially.

There seemed exuberance in the residential or commercial property market all throughout in 2022 and the momentum seems to be continuing in 2023.

There are new designers entering the fray in the Delhi NCR market who are anticipated to bring their own prowess and finesse which bodes well for the residential or commercial property purchasers interests, while the existing players continue to introduce new jobs.

said Mr.

Samir Jasuja, Founder and Managing Director at PropEquity.