In A First, Noida Sees No New Supply of Residential Property In An Entire Quarter
New Delhi: There has been absolutely no new launch of residential property in Noida, a prime real estate market of the country, in the third quarter (Q3) of the current calendar year. Only if Greater Noida is added to Noida, then the number of new launches has a figure attached to the region. The number of new residential launches stood at miniscule 740 units in the region (Noida and Greater Nodia combined) in Q3 of 2019, according to ANAROCK property consultants.
Sales of houses in Noida and Greater Noida in Q3 of the current year stood at 4,580 units as compared to 5,220 units in Q3 of 2018, representing a decline of 12 percent.
In Q3 of 2019, Noida saw sales of 1,380 units and Greater Noida saw sales of 3,200 units.
The unsold inventory of housing stock in Noida was 23,300 units at the end of Q3 of 18 which came down to 19,480 units at the end of Q3 of 2019, representing a drop 16 percent.
The unsold inventory of residential stock in Greater Noida was 59,990 units at the end of Q3 of 18 which came down to 48,350 units at the end of Q3 of 2019, representing a decline of 19 percent.