Luxury Homes Take Center Stage in NCR's Real Estate Market
NCR's real estate market witnesses a significant shift towards luxury homes, with Gurugram leading the way.
Ncr Real EstateLuxury HomesAffordable HousingGurugramAnarockReal EstateJul 31, 2024
In the first half of 2024, NCR witnessed total housing sales of approximately 32,200 units, with luxury homes accounting for a significant 45% share. In contrast, affordable housing sales dipped to 24%. This is a stark contrast to 2019, when luxury homes made up only 3% of sales, while affordable housing accounted for 49%.
Gurugram, also known as the 'Millennium City', has been the most active real estate market in NCR. The city saw approximately 17,570 units sold across different budget segments in the first half of 2024. Of these, a significant 59% (approximately 10,365 units) were luxury homes, followed by 27% (approximately 4,710 units) in the affordable segment.
Noida and Greater Noida together saw 8,425 units sold in the first half of 2024, with 42% (3,550 units) being luxury homes, and 13% (1,100 units) being in the affordable segment. The mid and premium segments priced between Rs 40 lakh and Rs 1.5 crore accounted for the highest sales share of 45% or 3,770 units.
Ghaziabad, Faridabad, Delhi, and Bhiwadi together saw 6,205 units sold in the first half of 2024, of which the luxury segment accounted for over 715 units, while affordable housing saw 1,920 units sold. The maximum sales of 3,570 units were in the mid and premium segments.
ANAROCK is a leading real estate consultancy firm that provides expert insights and analysis on the Indian real estate market.ANAROCK Group is a prominent real estate services company that offers a range of services including residential and commercial broking, advisory, and investment services.
Frequently Asked Questions
What is the current trend in NCR's real estate market?
The current trend in NCR's real estate market is a shift towards luxury homes, with luxury units accounting for 45% of total sales in the first half of 2024.
Which city in NCR has been the most active in real estate sales?
Gurugram has been the most active real estate market in NCR, with approximately 17,570 units sold across different budget segments in the first half of 2024.
What was the sales share of luxury homes in NCR in 2019?
In 2019, luxury homes accounted for only 3% of total sales in NCR.
Which segment accounted for the highest sales share in Noida and Greater Noida?
The mid and premium segments priced between Rs 40 lakh and Rs 1.5 crore accounted for the highest sales share of 45% or 3,770 units in Noida and Greater Noida.
What is the sales share of affordable housing in NCR in the first half of 2024?
Affordable housing accounted for 24% of total sales in NCR in the first half of 2024.
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