Delhi-NCR Housing Prices Surge 24% - Anarock Report

New Delhi, Oct 5 (PTI) Delhi-NCR's primary housing market saw an average increase of 24 per cent annually during the July-September period due to better demand, especially for luxury homes, according to Anarock.

Real estate consultant Anarock data showed that the average price of residential properties across Delhi-NCR at Rs 8,900 per sq ft during July-September from Rs 7,200 per square foot in the year-ago period.

Gurugram, Noida, Greater Noida, Delhi, and Ghaziabad are major markets in Delhi-NCR.

Overall, across seven major cities of India, the consultant mentioned that the housing prices rose 9 per cent to Rs 9,105 per sq ft from Rs 8,390 per sq ft.

Among seven cities, Delhi-NCR saw the maximum rise of 24 per cent.

Mumbai Metropolitan Region (MMR) remained the most expensive housing market.

Housing prices in MMR rose 6 per cent to Rs 17,230 per sq ft from Rs 16,300 per sq ft.

In Bengaluru, the prices appreciated by 10 per cent to Rs 8,870 per square foot from Rs 8,100 per square foot.

The prices of residential properties in Pune increased 4 per cent to Rs 7,935 per square foot from Rs 7,600 per square foot.

In Hyderabad, the prices rose 8 per cent to Rs 7,750 per square foot from Rs 7,150 per sq ft.

The average housing prices in Chennai increased 5 per cent to Rs 7,010 per square foot from Rs 6,680 per sq ft.

Housing prices in Kolkata rose 6 per cent to Rs 6,060 per sq ft during July-September from Rs 5,700 per sq ft in the corresponding period of the preceding year.

Gaurs CMD Manoj Gaur, said, "The 24 per cent surge in NCR's housing prices marks a structural realignment in end-users' behaviour. We are seeing homebuyers prioritising ownership in well-planned, lifestyle-led cities, seeking residences that reflect both aspiration and stability".

Ashok Kapur, Chairman of Krisumi Corporation, said the noticeable surge in housing prices in Delhi-NCR clearly underlines the sustained demand for quality homes across segments.

"Despite economic fluctuations and evolving buyer preferences, real estate continues to demonstrate resilience and long-term growth potential. Homebuyers today are not merely investing in property; they are seeking better lifestyles, modern amenities, and value-driven living spaces," Kapur said.

Realty firm BPTP Ltd CEO Manik Malik said the surge in demand for luxury homes in Delhi-NCR is a testament to rising affluence and global aspirations.

He said the improvement in infrastructure has also fuelled both demand and prices of residential properties in the Delhi-NCR market.

Ashish Jerath, President, Sales & Marketing of Smartworld Developers, said, "While Gurugram is a mature market where price increases have been supported by new infrastructure developments like the Dwarka Expressway and the opening of UER 2, Noida is rapidly developing as a luxury-focused market, with new launches benefiting from the upcoming international airport and superior infrastructure".

These trends are reflected in the increasing average sale prices in both key NCR markets, he added.

Gurugram-based real estate brokerage firm VS Realtors (I) Pvt Ltd founder and CEO Vijay Harsh Jha said the rate of price growth going forward could see some moderation in view of the decline in sales and launches.

As per the Anarock data, the housing prices across these seven cities grew by 1-3 per cent during the July-September period compared to the preceding April-June quarter, reflecting moderation in the price rise after a steep increase post COVID pandemic.