PropTiger Q2 Report FY'16: How North India's Hottest Real Estate Markets Fared In Q2'FY16

Noida and Gurgaon have been India's hottest residential real estate markets, hands down. In Q2, how have they fared? According to PropTiger.com's Q2 report titled 'Realty Decoded-Q2'FY16', the answer isn't very optimistic.

PropGuide digs out data from the comprehensive report and compares the residential real estate markets of Noida (including Greater and Yamuna Expressway) and Gurgaon (including Bhiwadi, Dharuhera and Sohna) head-to-head.

Units launched: In terms of total number of units launched, Noida saw a skewed dip of 78 per cent. The drop in Gurgaon was 44 per cent with Bhiwadi being a major contributor. Bhiwadi contributed 89 per cent to the total dip in Gurgaon.

Price point of units launched: In , 25 per cent of the number of units launched were at higher price points compared to the Q1'FY16. However, in Gurgaon, the number of units launched went down by 5 per cent when compared to Q1's price point.

Units sold: Talking about the number of units sold, the story was not that good for both the places. While sales in Noida were down 21 per cent in Q2 as against the previous quarter, Gurgaon saw a marginal increase of 1 per cent.

Unsold inventory: Both the cities witnessed huge numbers in unsold units. In total, Noida's unsold stocks stood at 99,894 units, Extension and Yamuna Expressway together being the major contributors. Gurgaon accounted for 44,069 unsold units. The luxury segment was the highest contributor to unsold apartment in Gurgaon (69 per cent) , while in Noida, it stood at 8 per cent.

Age of the unsold inventory: While Noida had 33 per cent of unsold inventory older than three years, the figure was 22 per cent for Gurgaon. In the 2-3 year bracket, 1-2 year bracket, and less than a year bracket of unsold units in Noida, it stood at 27 per cent, 22 per cent, and 18 per cent, respectively. For , it was 34 per cent, 19 per cent, and 21 per cent respectively.

Unsold inventory in luxury & affordable segment: Out of the total unsold apartments in Noida, 1.9 per cent of them were in the ready-to-move-in segment. For , it was 2.2 per cent. In the affordable segment, Noida had a total of 61,248 units and among these, almost 80 per cent were in the Extension and Yamuna Expressway region. Gurgaon had close to 18,000 units unsold in the affordable segment.

Investor demand: Gurgaon led the way with an average of 32 per cent (including Bhiwadi and Sohna) of demand coming from investors. For , the investor demand was as low as 16 per cent.

Price appreciation: Noida saw a drop of 1.8 per cent. However, both Greater and Yamuna Expressway had an appreciation of 2.8 per cent and 5.7 per cent respectively. In , apart from Sohna, there was no price appreciation. Prices in Sohna were up by 6.2 per cent as compared to Q1'FY16.