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In Delhi and the National Capital Region (NCR), house sales fell 19 per cent to 15,340 in the April-June quarter. During January-March, 18,835 houses were sold. This is because with the rise in house prices, the Reserve Bank of India has also increased interest rates twice, making loans costlier.
The number of unsold houses fell by 7 percent
According to Anarock, the number of unsold houses in Delhi-NCR declined by 7 per cent to 1.41 lakh units. It was 1.51 lakh units in March 2022. Home sales in Gurugram declined from 8,850 to 7,580, while the number of new launches declined from 7,890 units to 2,830.
Only 1,650 houses sold in Noida
As per the data, only 1,650 houses were sold in Noida in the June quarter. 3,450 homes were sold in the March quarter. 390 new houses were built, while not a single house was built in March. In Ghaziabad, 2,080 houses were sold in the March quarter, which declined to 1,650 in the June quarter. During this period the number of newly launched houses increased from 220 to 740.
Sales also fell in Faridabad, Delhi and Bhiwadi
In Faridabad, Delhi and Bhiwadi, 1,710 houses were sold in the April-June quarter, while 2,410 were sold during the January-March quarter. The launch of new homes has come down from 920 units to 110 units. Delhi, NCR and Gurugram have the largest share of the total unsold houses, which has come down by 7 per cent to 59,120.
28,875 houses unsold in Greater Noida
As per the data, there are 28,875 unsold houses in Greater Noida. This is a decrease of 8 percent compared to a quarter ago. In Ghaziabad, 17,990 houses could not be sold with a drop of 5 per cent. Their number was 18,900 a quarter ago. Noida had 13,800 households in the March quarter, which declined by 12 per cent to 12,150 in the June quarter. In Delhi, Faridabad and Bhiwadi, 23,100 houses remained unsold in the June quarter as against 24,700 houses in March.
Noida home buyers stranded
According to the report, home buyers in Noida were the most affected. Even after making full payment, they could not get the house. In seven cities of the country, 4.79 lakh houses worth Rs 4.48 lakh crore are stuck or their construction is getting delayed. Out of this, about 50 percent is in Delhi and NCR. The share of Noida and Greater Noida is 70 percent.