Luxury Real Estate Market Booms in Delhi-NCR, Gurugram Leads the Way
The luxury real estate market has emerged as the star performer in the National Capital Region (NCR), with Gurugram accounting for nearly 60% of luxury sales.
Luxury Real EstateDelhi NcrGurugramAnarockReal Estate MarketHousing SalesReal Estate PuneAug 01, 2024
Gurugram has emerged as the epicenter of this luxury housing boom, accounting for nearly 60% of luxury sales in the NCR. While affordable housing continues to be a significant segment in Noida and Greater Noida, the overall trend leans towards higher-end properties.
ANAROCK data indicates that out of NCR's total housing sales of approximately 32,200 units in H1 2024, only 24% were in the affordable segment. Back in 2019, affordable sales share stood at 49%.
In terms of overall sales numbers, approximately 14,630 luxury units were sold in NCR in H1 2024, against approximately 1,580 units in entire 2019. Approximately 7,730 units were sold in the affordable segment in H1 2024, against approximately 23,180 units in 2019.
Gurugram has been the most active real estate market in recent years, with approximately 17,570 units sold across different budget segments in H1 2024. Of these, a whopping 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 approximately 8,425 units sold in H1 2024, of which 42% (approximately 3,550 units) were luxury homes and just 13% (approximately 1,100 units) were in the affordable segment.\n\nGhaziabad, Faridabad, Delhi, and Bhiwadi together saw approximately 6,205 units sold in H1 2024, of which the luxury segment accounted for 715+ units, while affordable housing saw 1,920 units sold.
Frequently Asked Questions
What is the current state of the luxury real estate market in Delhi-NCR?
The luxury real estate market has emerged as the star performer in the National Capital Region (NCR), with Gurugram accounting for nearly 60% of luxury sales.
How has the affordable housing segment performed in Delhi-NCR?
The affordable housing segment has seen a decline in sales share, with only 24% of total housing sales in H1 2024, compared to 49% in 2019.
What is the price segmentation of the mid and premium segments in Delhi-NCR?
The mid and premium segments are priced between Rs 40 lakh and Rs 1.5 crore.
How many luxury units were sold in NCR in H1 2024?
Approximately 14,630 luxury units were sold in NCR in H1 2024.
What is the sales share of luxury homes in Gurugram?
The sales share of luxury homes in Gurugram is approximately 59%.
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