Gurugram’s Housing Sales See Over 2-Fold Increase in 2022: Anarock
The real estate market of Gurugram has seen a significant increase in housing sales in the year 2022, according to a report by Anarock. The report states that the total number of housing units sold in Gurugram during the year was 32,617, which is more than double the 15,841 units sold in 2021.
The report further states that this surge in housing sales can be attributed to several factors such as improved economic conditions, low interest rates on home loans and increased demand for affordable housing. Additionally, the availability of ready-to-move-in homes and flexible payment plans also played an important role in driving up sales.
Anarock’s data shows that mid-segment residential projects accounted for almost two-thirds (64%) of all sales during the year. This was followed by luxury projects (20%), premium projects (14%) and affordable projects (2%). In terms of location, Sohna Road emerged as the top performer with over 5,000 units sold during the year. It was followed by Dwarka Expressway (4,800 units) and Golf Course Extension Road (3,500 units).
Commenting on these figures, Anuj Puri – Chairman – Anarock Property Consultants said “Gurugram’s real estate market has seen a remarkable turnaround since last year due to improved economic conditions and attractive home loan offers from banks and NBFCs. This has resulted in increased demand for both mid-segment and luxury properties across Gurugram”. He further added “With developers offering attractive payment plans and discounts on ready-to-move-in homes, we expect this trend to continue into 2022 as well”.
Housing sales in the top 7 cities of India – Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad, and Pune – saw a 54% increase in 2022 to 3.64 lakh units compared to 2.36 lakh units in 2021. This is the highest peak since 2014 when nearly 3.43 lakh units were sold across these cities.
The housing market had seen a steady growth from 2013 to 2019 with sales reaching 3.18 lakh units in 2013; 3.42 lakh units in 2014; 3.08 lakh units in 2015; 2.39 lakh units in 2016; 2.11 lakh units in 2017; 2.48 lakh units in 2018; and 2.61 lakh units in 2019 respectively. However, due to the pandemic and nationwide lockdown imposed to contain its spread, sales dropped drastically to 1.38 lakh units in 2020 before bouncing back this year with a 54% increase over last year’s figures.