Summary of this article
NCR launches dropped 40% year-on-year.
Sales remained resilient despite lower supply.
Gurugram led launches and housing sales.
The residential real estate market in NCR has witnessed a significant slowdown in new housing supply during the second quarter of 2026. This can be noted even as homebuyer demand remains resilient, as per ANAROCK’s latest research on the quarterly real estate report. While developers have launched considerably fewer projects during the quarter, the housing sales have declined at a much slower pace. This reflects a sustained demand in the region.
Fresh residential launches in NCR have dropped by 40 per cent on a year-on-year basis, with unit launches dropping to 11,205 in Q2 of 2026. The data from the same quarter last year shows that a total of 18,760 units were launched. This difference shows housing sales have dropped by 6 per cent to 13,365 units in Q2 2026. This number was 14,255 units in Q2 2025. The comparison drawn shows that more homes were sold during the quarter than were launched. This indicates a stronger market absorption and high buyer confidence.
"NCR saw a notable divergence between launches and sales in Q2 2026. Total launches across the region fell 40 per cent annually to 11,205 units from 18,760 units in Q2 2025, with Noida and Greater Noida seeing the steepest drop at 72 per cent. Yet, total housing sales declined only 6 per cent to 13,365 units, suggesting that underlying demand remains comparatively resilient despite weaker supply additions," says Santhosh Kumar, Vice Chairman, ANAROCK Group.
The Gurugram region has retained its position as the driving force for the housing market in NCR during this quarter. The city has recorded the highest number of residential launches at 5,200 units and also led the housing sales with 5,435 units. However, the launches and sales in Gurugram had declined by 8 per cent and 4 per cent, respectively, when compared with last year's data. Gurugram was also the region with the highest held housing inventory among the NCR cities, which reinforces its status as the locality with the most active real estate market.
On the other hand, Noida and Greater Noida experienced a sharp slowdown in fresh supply. The combined micro-market has witnessed a 72 per cent decline in new launches on a yearly comparison. Only 2,140 units were introduced in the market in this quarter. Housing sales also dropped by 20 per cent in the quarter. Ghaziabad also reported a similar moderation in launches and sales activity.
The report indicates a cautious approach by developers towards new projects, where buyer interest in NCR housing remained intact. With sales outpacing the unit launches, the NCR market has shown the fundamentals of a balanced market. While supply corrections were particularly evident in Noida and Greater Noida, Gurugram’s strong performance and overall positive absorption show that demand is still heavily present in the NCR market.
