Housing sales have risen by 20 pc in Delhi-NCR region during the first half of this year at 37,000 units, showing slight improvements signs in the real estate market that has been facing slowdown in demand.

During the first half, the NCR-region residential market witnessed a total captivation of 37,000 units showing a surge of 20 pc. This hike in sales is due to high number of launches in affordable category.

The absorption in Greater Noida rose almost three times compared to the same period last year suggesting a strong demand for affordable units in the area. It witnessed sale of 14,300 units.

But the occupancy level dipped in both Gurgaon and Noida, due to unavailability of affordable housing units in these markets.

The NCR property market is pushing for better balance and the developers are focusing on project completion and avoiding new launches seeing the market condition.

The slow buyer sentiments have discouraged the sales but in areas like Dwarka Expressway, Noida Expressway, Greater Noida would woo the investors.

Almost 5.6 lakh housing units are under construction in NCR and the unsold inventory has surged to 10.32 lakh units. These days the developers are keeping the new launches at way to bridge the supply and demand gap.

On the other side, 50,000 units were launched during the first half showing an increase of 12 pc compared to 2012.

Over the past two and half years the NCR has witnessed a fall in launches by nearly 37 pc compared to the peak levels of 2010.

The NCR market showed some signs of stability in the first half but it’s a long way to go.