According to JLL, India's capital city of New Delhi witnessed residential sales improve by 43% in Q4 2020, compared to the last quarter (Q3 2020) on the back of price discounts, low interest rates and some premium launches by established developers. 

However, sales are yet to reach the pre-Covid levels witnessed in 2019. Noida continued to dominate sales with a 45% share of overall sales in Delhi NCR. This was followed by Ghaziabad, which contributed 31% of the total sales. 

The residential market also rebounded with some prominent new launches. In Q4 2020, new launches more than tripled when compared to the last quarter. The majority of the launches were recorded in Gurugram, which accounted for 61% of the new launches followed by Noida, which contributed 24% of the launches. 

“Homebuyers are increasingly becoming more confident about returning to the market. Site visits and enquiries from prospective buyers have been increasing consistently, driven primarily by end users who are keen in ready to move in projects and newly launched projects by established developers,” said Manish Aggarwal, managing director, Delhi NCR, JLL India.