New Delhi housing demand rose 9.9% in Q3 2026, says Omaxe's Mohit Goel

What was said

Omaxe Managing Director Mohit Goel cited figures, reported in the press on 21 October 2026, showing that housing demand in New Delhi rose 9.9% quarter on quarter in the third quarter of 2026, the July-September period. He also said demand for homes priced above Rs 3 crore rose 19% in Noida and 34% in Greater Noida over the same period.

Goel linked the improved sentiment to stable interest rates, improving economic confidence and the aspiration to own a home. He said buyers are weighing construction quality, location, developer track record and delivery history, and are not responding only to festive-season offers.

According to the same report, festive-season buying has restored momentum, but demand has not returned to year-ago levels.

A premium-led picture

The reported gains are concentrated at the top of the market. Developer representatives cited in the report expect festive sentiment to support sales, particularly in premium and mid-premium segments. Wider NCR data points the same way: more than 34% of new housing supply in the quarter was priced above Rs 2.5 crore, according to figures cited in the same reporting.

Rising land and construction costs, along with developers focusing on premium, luxury and ultra-luxury housing, are the reasons given for the sharp increase in NCR prices. Business Today reported in early October that the average NCR residential rate reached Rs 9,980 per sq ft in Q3 2026, with prices rising 12% in the region over the year (Business Today).

Affordability remains the constraint for mass-market buyers. A stronger response in higher-value segments does not automatically mean the housing market as a whole has become more accessible or uniformly stronger. The same reporting notes that prices in Greater Noida and Gurugram changed little, even as prices rose in most markets.

Wider market data

Data from Magicbricks PropIndex, which covers India rather than New Delhi alone, shows national housing demand rose 8.2% in July-September 2026, though it remained 9.6% below the level of a year earlier. Prices rose only modestly nationally. The same report said the recovery was strongest in Bengaluru, Ahmedabad, Navi Mumbai, Thane and New Delhi (Free Press Journal).

National supply rose only 1.9%, which is behind persistent demand. Anarock data cited in October showed Delhi-NCR residential prices up 12% year on year in Q3 2026, while the average across seven cities rose 7% (India TV News).

What it means for buyers and investors

For buyers, the figures show where demand is strongest, not where prices are likely to be lowest. Buyers in the premium segment face rising prices in a market where supply is tight. Mass-market buyers face the same price pressure with fewer affordable options, according to the reporting.

For investors, the data covers a single quarter and comes from one developer's view. It should not be treated as a sustained trend. Sales momentum tied to festive months can fade once the season ends.

Buyers weighing a project in any of these markets are advised to check the developer's delivery record, the construction quality, the connectivity that is actually in place today rather than planned, and the last-mile links to daily services. A project near a major road or expressway is not automatically well connected.

Omaxe: regulatory and financial context

Anyone reading the demand comments should also see the company's recent record. The Securities and Exchange Board of India passed an order on 24 September 2026 concerning Omaxe's historical compliance with minimum public shareholding requirements. The order restrains Omaxe from accessing the securities market for three months. Promoters Rohtas Goel, Sunil Goel and Jai Bhagwan Goel, and two promoter-linked firms, were restrained for one year. A combined penalty of Rs 1.92 crore was imposed across the company, two promoter-linked firms and the three promoters.

The Supreme Court's appellate tribunal, SAT, dismissed Omaxe's appeal against an earlier SEBI order dated 30 July 2024, in an order pronounced on 1 September 2026, according to the company.

CARE Ratings reaffirmed Omaxe's bank facility ratings at CARE BB+ (Stable) for long-term facilities and CARE A4+ for short-term facilities, in a filing dated 12 October 2026. Infomerics reaffirmed the company's outstanding long-term ratings and withdrew the rating on one rated instrument on 6 October 2026.

On 12 August 2026, Omaxe reported a consolidated net profit of Rs 1.3 crore for Q1 FY27, compared with a loss of Rs 185.77 crore in Q1 FY26, according to the company. The company's own filing should be used for the exact figures.

The company also announced an MoU with Lemon Tree Hotels on 16 October 2026 to manage 10 upcoming hotels with an estimated investment of about Rs 4,000 crore. The MoU is part of a hospitality expansion of Rs 6,200 crore announced in June 2026, which covers 19 hotels across five states.

What comes next

The three-month market-access restraint from the 24 September 2026 SEBI order runs from that date. If counted from the order date, it would end around late December 2026. The one-year restraints on promoters and promoter-linked firms run into 2027.

Omaxe's own New Delhi page lists retail, wholesale and food-court projects in the city, and the company's Mathura commercial project received UP RERA registration with validity to 1 April 2031. The next market data for New Delhi is due with the next quarterly reports. Buyers should check the latest figures before relying on any quarter's trend.