Track2Realty: The NCR residential market witnessed a dip in project launches in H2 FY13 compared to H2 FY12. Greater Noida witnessed the highest number of launches in H2 FY13. Majority of these projects are located on the Yamuna Expressway and fall in the affordable segment.
As on March 2013, nearly 5,20,000 units were under various stages of construction in the NCR market. Almost 50% of this is expected to be ready for possession by the end of 2014.
Residential demand has seen a dip of 12% in H2 FY13 compared to H2 FY12.
The NCR market has an estimated 1, 30,000 units of unsold inventory which is approximately 27% of the units under construction. However, this has remained stable and not gone up substantially compared to H1 FY13, despite slight slowdown in the absorption.
Rising construction cost led developers to increase the prices of new launches in most of the micro-markets of Noida and Gurgaon.
RBI’s recent cut in policy rates is expected to have a positive impact on the real estate sector. Both consumer and investor sentiments are expected to improve in the coming quarters.
