Luxury Housing Market In Delhi NCR: More than 80 percent of the property sales in the National Capital Region Delhi NCR in the year 2024 are of properties priced above Rs 1 crore i.e. Rs 10 million. This shows that there is a strong demand for large homes with state-of-the-art amenities in Delhi NCR among homebuyers from affluent backgrounds who are giving preference to such homes.
Real estate consultant Knight Frank India has released a report. According to this report, maximum activity has been seen in properties in the Rs 1-2 crore and Rs 2-5 crore segments and real estate developers are also launching luxury housing projects at strategic locations.
According to the report of Knight Frank India, the highest sales volume has been seen in the Rs 1-2 crore category in Delhi NCR. In the year 2024, a total of 19,111 units have been seen in sales in this price segment, which is the highest in the sales of homes of any ticket size segment in the entire NCR residential market. This segment has contributed 33 percent to the residential sales of NCR.
According to the report, a total of 18997 units priced between Rs 2-5 crore have been sold in Delhi NCR in the year 2024, which is the highest among the top 8 markets of the country in terms of real estate market in this price segment. This segment has contributed 38 percent to the total sales in Delhi NCR. A total of 10,311 units of this segment were sold in the year 2023 and there has been a total jump of 84 percent in sales in the period of one year.
According to the report of Knight Frank India, Delhi NCR has left behind the top 8 cities of the country in terms of sales of housing units priced between Rs 5 to 10 crore. A total of 7361 housing units in this price segment will be sold in 2024, which was 5469 units in 2023.
According to Knight Frank India, Delhi NCR is at the forefront among the top markets of the country in terms of sales of houses worth Rs 10-20 crore. A total of 397 housing units in this price segment have been sold in the year 2024, which was 275 in 2023. That means there has been an increase of 44 percent in the sales of houses in this segment. Whereas 6 units have been sold in the price segment of Rs 20-50 crore, whose sales were 35 in 2023. 49 housing units worth more than Rs 50 crore have been sold, the number of which was 6 in 2023. There has been a 33 percent jump in the sales of housing units priced above Rs 50 crore and a total of 150 units have been sold.
Knight Frank India Executive Director-North Mudassir Zaidi said, residential units priced above Rs 1 crore are the most preferred segment of homebuyers. After the pandemic, high net worth individuals are giving preference to big houses with excellent amenities. Such expensive homes in prime locations of Gurugram and Noida and Greater Noida are attracting homebuyers the most.
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