Delhi-NCR Leads with 24% Rise in Housing Prices Amid Top 7 Cities: Anarock
Delhi-NCR's primary housing market saw an average increase of 24% annually during the July-September period, driven by better demand, especially for luxury homes, according to Anarock. The real estate consultant's data revealed that the average price of residential properties across Delhi-NCR rose to Rs 8,900 per sq ft from Rs 7,200 per sq ft in the year-ago period.
Gurugram, Noida, Greater Noida, Delhi, and Ghaziabad are the major markets contributing to Delhi-NCR's real estate landscape. Overall, across seven major cities in India, housing prices increased by 9% to Rs 9,105 per sq ft from Rs 8,390 per sq ft.
Among these cities, Delhi-NCR saw the maximum rise of 24%. Mumbai Metropolitan Region (MMR) remained the most expensive housing market, with prices rising 6% to Rs 17,230 per sq ft from Rs 16,300 per sq ft. In Bengaluru, prices appreciated by 10% to Rs 8,870 per sq ft from Rs 8,100 per sq ft. Pune saw a 4% increase to Rs 7,935 per sq ft from Rs 7,600 per sq ft, while Hyderabad's prices rose 8% to Rs 7,750 per sq ft from Rs 7,150 per sq ft. Chennai experienced a 5% increase to Rs 7,010 per sq ft from Rs 6,680 per sq ft, and Kolkata saw a 6% rise to Rs 6,060 per sq ft from Rs 5,700 per sq ft.
Gaurs CMD Manoj Gaur noted that the 24% surge in NCR's housing prices marks a structural realignment in end-users' behavior. Homebuyers are prioritizing ownership in well-planned, lifestyle-led cities, seeking residences that reflect both aspiration and stability. Ashok Kapur, Chairman of Krisumi Corporation, emphasized that the noticeable surge in housing prices in Delhi-NCR underscores 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.
Manik Malik, CEO of BPTP Ltd, highlighted that the surge in demand for luxury homes in Delhi-NCR is a testament to rising affluence and global aspirations. The improvement in infrastructure has also fueled both demand and prices of residential properties in the Delhi-NCR market. Ashish Jerath, President of Sales & Marketing at Smartworld Developers, added that 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.
Vijay Harsh Jha, founder and CEO of VS Realtors (I) Pvt Ltd, cautioned that the rate of price growth going forward could see some moderation in view of the decline in sales and launches. According to Anarock data, housing prices across these seven cities grew by 1-3% during the July-September period compared to the preceding April-June quarter, reflecting moderation in the price rise after the COVID pandemic.
