Monthly Watch: Home Sales Increase 7% In Gurgaon

The upwards movement that new project launches saw in the first month of the new year was halted in February, with numbers falling 69 per cent on a month-on-month basis. According to a PropTiger DataLabs report, when compared the same month last year, the fall in February 2017 stood at 44 per cent. What comes as a saving grace is a rise in home sales numbers. According to the report, home sales numbers saw a seven per cent increase over January. In fact, the luxury segment witnessed a 10 per cent increase in home sales. On an annual basis, however, the 75 per cent overall fall in numbers is substantial.

As far as prices are concerned, rates of property in Gurgaon have gone down by one per cent in the past one year, the report says. At three per cent, the price fall is more prominent in the mid segment.

Also read: Monthly Watch: Developers Are Back In Gurgaon; New Launches Shoot Up

Top performers

Localities that contributed the highest to the monthly home sales figures are Sector 79, Shahjahanpur, Sector 37C, Sector 68 and Sector 103, in that order. These areas offer housing options to mid and luxury segments. At Sector 79, for instance, the property is priced at Rs 5,400-6,200 per sq ft while at Shahjahanpur the rates range between Rs 3,000 and Rs 3,500 per sqft. Properties at Sector 68 come with the highest price tag, with rates ranging between Rs 6,000 and Rs 6,300 per sqft. Average property is at Sector 103 currently stands at Rs 4,650-5,100 per sqft and you have to shell out Rs 4,725-5,200 per sqft to buy property at Sector 37C.

In launch mode

Developers who launched new projects in the Millennium City in February include Chandraprabhu Buildwell, Hari Om Developers, Kalka Group and Om Group Jaipur. Om Group Jaipur has announced the launch of its apartment project at Sector 3-Bhiwadi. The 750 units at Vanshika Homes will be priced at Rs 2,401 per sqft. Chandraprabhu Buildwell has also launched its apartment-based project, Tijara Homes, at Tijara and will be selling 500 units for an average price of Rs 1,558 per sqft. On the other hand, Hari Om Developers and Kalka Group have launched a plot-based project each. While the former will be selling 469 plots at its Kunj Phase-IV project at Indari for Rs 1,000 per sqft, the latter would sell 458 plots at Kalkata City for Rs 1,711 at Sector 39-Bhiwadi.

Also read: Gurgaon-Jaipur Super Highway To Accelerate Real Estate