Housing Prices In Delhi NCR: In terms of increase in housing prices, Delhi-NCR has left the entire country behind. In terms of housing market, among the seven major cities of the country, the highest increase in housing prices in the year 2024 has been seen in Delhi NCR. Real estate consultant Anarock said in its report that due to increase in input cost in Delhi-NCR, house prices have increased by an average of 30 percent in 2024.
According to this report of Anarock, an average increase of up to 30 percent has been seen in the average housing prices in Delhi-NCR. The price in Delhi NCR was Rs 5,800 per square foot in the year 2023, which will reach around Rs 7,550 per square foot in 2024. This increase in housing prices in Delhi-NCR has come when there was excess supply and slight decline in sales during 2024. According to Anarock, there has been a sharp increase in labor and construction costs during this period along with the rise in land costs.
According to Anarock data, housing sales declined by six percent last year to 61,900 housing units from 65,625 housing units in 2023. The fresh supply of housing property in Delhi-NCR increased by 44 percent to 53,000 units in 2024 from 36,735 housing units in 2023.
Anarock data showed that overall, housing prices across the top seven mega cities have increased between 13-30 per cent, mainly due to increase in input costs and strong demand from home buyers. The average residential price in the top seven cities saw an annual increase of 21 per cent, rising from Rs 7,080 per sq ft to Rs 8,590 per sq ft. ANAROCK covers seven cities – Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Hyderabad, Bengaluru and Pune.
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