Residential Prices Soar in Delhi and Mumbai: A 5-Year Analysis
The National Capital Region (NCR) and Mumbai Metropolitan Region (MMR) have witnessed a significant surge in residential prices, driven by robust sales and decreased unsold inventory over the past five years.
Real EstateHousing PricesDelhiMumbaiNcrMmrReal Estate NewsJul 07, 2024
In NCR, the average residential price rose from Rs 4,565 per sq. ft. to Rs 6,800 per sq. ft. over the five-year period, while MMR saw a 48% appreciation, with prices climbing from Rs 10,610 per sq. ft. in H1 2019 to Rs 15,650 per sq. ft. in H1 2024.
The pandemic played a crucial role in shaping the real estate market in these regions. Initially, developers offered incentives to stimulate sales, but as demand surged, average prices were gradually increased. The sharp decline in unsold inventory, particularly in NCR, is attributed to increased construction costs and robust sales.
\
Frequently Asked Questions
What was the percentage increase in average residential prices in NCR between 2019 and 2024?
49%
What was the average residential price in MMR in H1 2024?
Rs 15,650 per sq. ft.
What was the main reason for the decline in unsold inventory in NCR?
Robust sales and increased construction costs
How many units were launched in MMR between H1 2019 and H1 2024?
Over 5.26 lakh units
What is the current inventory overhang in MMR?
14 months
Related News Articles
DDA Housing Scheme 2024: Your Dream Home in Delhi for Just Rs 11 Lakh!
Delhi Locations: Sector 14, 16B, and 19B in Dwarka. Categories: HIG, MIG, and LIG.
The Bandra Boys and the Mysterious Murder of Baba Siddiqui
Despite claims by authorities, the gang wars in Mumbai continue. The recent brutal murder of Baba Siddiqui, a well-connected 'Bandra Boy', highlights the deep-rooted connections between real estate, politics, and the underworld in the city. His close frie
Mumbai's Real Estate Market: A Temporary Pause or Long-term Shift?
In the dynamic Mumbai Metropolitan Region (MMR), the real estate market has been a cornerstone of housing growth. However, the latest dip in new projects is causing concern among buyers and investors alike. What does this trend mean for the future of Mumb
Housing Sales and Supply See Decline in Top Nine Cities in Q4 2024: PropEquity Report
In a concerning trend for the real estate sector, the housing supply in the top nine cities is expected to drop by 33 per cent, according to a recent report by PropEquity. This decline is likely to have significant implications for the market.
Info Edge Reports Strong Q3 FY25 with 15.8% Surge in Standalone Billings to ₹668.3 Crore
Info Edge's standalone billings for Q3 FY25 witnessed a significant 15.8% year-on-year increase to ₹668.3 crore, driven by robust growth in recruitment and real estate segments.
Kolkata Welcomes Its First Rs 900-Crore Branded Luxury Residences, Bengaluru and Mumbai-Style
Kolkata-based real estate giant Merlin Group has collaborated with global lifestyle brand Fashion TV (FTV) to introduce the city's first branded luxury residences, setting a new benchmark in luxury living.