Home sales rise 46% in NCR: Report

Last Updated: Sat, Mar 23, 2013 05:02 hrs

Real estate image via Shutterstock BBuoyed by high sales in Greater Noida, along the Yamuna Expressway and at Noida Extension, the absorption of houses in the National Capital Region (NCR) rose 46 per cent in January, compared to a year earlier, showed data from realty research firm PropEquity.

NCR saw absorption of 8,812 units in January, against 6,032 units in January 2012. However, new launches in this region fell 35 per cent to 5,208 units, against 8,041 units a year earlier. For the quarter ended December, absorption of houses rose 23 per cent year-on-year.

In the Mumbai Metropolitan Region, absorption fell 14 per cent in January---from 5,983 units in January 2012, it dropped to 5,130 units. The fall was primarily driven by the Thane region, where absorption fell 23 per cent. For the quarter ended December, Mumbai’s absorption levels fell 21 per cent year-on-year.

Samir Jasuja, founder and chief executive of PropEquity, said, “The revival in NCR was because of high sales velocity in Greater Noida, Noida Extension and Faridabad. For Greater Noida, Yamuna Expressway and Noida Extension, sales in January last year stood at 694 units.

Resolving land acquisition issues lumbering upon the area, along with highly affordable units in Yamuna Expressway and Noida Extension, resulted in the sale of 3,998 units in January.

New launches in this region rose 18 per cent.

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