Price Of New Homes Launched Gurugram, Jan-May 2018 Increased By 6.5%
The average price for new homes launched Gurugram during January-May 2018 increased by 6.5 per cent over a year-ago period on improved demand from end-users, according to Anarock property consultant.
As per its research, the weighted average price for new homes launched Gurugram between January and May in 2018 stood at Rs 4,580 per sq ft as against Rs 4,300 an sq ft in the corresponding period of the last year.
The millennium city of Gurugram has a very prominent place on India’s residential real estate map and is considered a bellwether of the state of the market for NCR. We are seeing an uptick in pricing for new homes launched Gurugram, in line with the returning end-user demand as a result of improving market transparency, Anarock Vice Chairman said.
The launches of new homes at Gurugram fell to 4,100 units in January-March 2018 from 5,600 units in the same period last year because builders are focusing on completing their previously launched projects.
However, he said the supply of luxury and ultra-luxury flats, which was affected due to demand slowdown and the government’s focus on affordable homes, has seen a major uptick this year on the back of renewed buyer confidence.
Out of total new flats launched, around 60 per cent were in luxury and ultra-luxury segments and nearly 37 per cent consisted of units in the affordable category which is less than Rs 40 lakh.
In Q1 2018, out of the total unsold housing stock in NCR (approximately 2,00,400 units), nearly 26 per cent were unsold in Gurugram. The burden of unsold housing in entire NCR is quite evidently reducing, although absorption in Gurugram was marginally faster last year.
Source Link- https://www.outlookindia.com/