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Housing sales in Delhi NCR dip by half year-on-year in 2020 compared to 2019: report

Greater Noida accounts for 39% of the total residential sales followed by Gurugram at 29%; Sale of ready-to-move-in inventory and plots gain traction

Housing sales in the national capital region (Delhi-NCR) decreased by half year-on-year during the 2020 calendar year to 21,234 units on low demand because of the COVID-19 pandemic, a report by property consultant Knight Frank India said.

Housing sales in Delhi-NCR decreased 50 per cent to 21,234 units from 42,828 units, it said.

There was a significant increase in buying of ready to move inventory, near to completion inventory and plots in the NCR market, the report titled 'India Real Estate - Residential and Office Update H2 2020' said.

The affordability index in Delhi NCR also improved from 64% in 2011 to 38% in 2020 on account of lower interest rates and overall cost of property coming down, the report noted.