Delhi-NCR Housing Prices Surge 17 Points in Dec: Housing.com-ISB

New Delhi, Mar 25 (PTI) Housing Price Index (HPI) in Delhi-NCR increased 17 points in December last year compared to September on high demand, according to Housing.com and ISB report.

The Housing Price Index (HPI), a joint initiative by online real estate advisory platform Housing.com and the Indian School of Business (ISB), tracks changes in the selling prices of new residential properties over time.

As per the report, "property prices have shown a dramatic rise in the National Capital Region as reflected in the HPI reading of 195 points in December 2024".

The average price in Delhi-NCR is Rs 8,105 per square feet.

"The HPI reading for NCR showed a 17-point jump in December when compared to the reading seen in September. The price rally is primarily being fuelled by the demand for larger premium properties," the report said.

Housing.com and ISB said that the prices are likely to continue to rise in Delhi-NCR.

Dhruv Agarwala, Group CEO, Housing.com & PropTiger.com, said, "Firming up prices tells a story of growth and affluence for the world's fifth-largest economy. However, these are also indicative of the rising burden on India's middle class. For real estate to continue a balanced growth narrative, housing affordability remains integral."

"While positive reinforcements are already being made in the form of better tax breaks as announced in the Union Budget 2025-26 and easing of interest rates, geo-political issues might play spoilsport by further pressuring input costs," Agarwala added.

For December 2024, the pan-India reading of the HPI stood at 129 points, a four-point jump since January. This yearly growth is supported by a robust demand and a positive consumer sentiment, the report said.

"The latest Housing Price Index reveals that housing prices across India stabilised in the final quarter of 2024," said Shekhar Tomar, Assistant Professor of Economics and Public Policy at ISB.

Data for the index is collected quarterly across 13 cities -- Ahmedabad, Bengaluru, Chennai, Faridabad, Gandhinagar, Ghaziabad, Greater Noida, Gurugram, Hyderabad, Kolkata, Mumbai, Noida, and Pune.