Delhi-NCR has left the whole country behind in terms of increase in housing prices. In terms of housing market, the highest increase in house prices in the year 2024 has been seen in delhi NCR among the seven major cities of the country. Real estate consultant Anarock said in its report that due to increase in input cost in Delhi-NCR, house prices have increased by an average of 30 percent in 2024.
According to this report of Anarock, average housing prices in Delhi-NCR have seen an average increase of up to 30 percent. In delhi NCR, the price which was Rs 5,800 per square foot in the year 2023 has reached around Rs 7,550 per square foot in 2024. This increase in housing prices in Delhi-NCR has come at a time when there was more supply and a slight decline in sales during 2024. According to Anarock, along with the jump in land cost, there has been a sharp increase in labor and construction costs during this period.
According to Anarock data, housing sales declined by six per cent to 61,900 housing units last year from 65,625 housing units in 2023. Fresh supply of housing properties in Delhi-NCR increased by 44 per cent to 53,000 units in 2024 from 36,735 housing units in 2023.
Anarock data showed that overall, housing prices in the top seven major cities have increased between 13-30 per cent, mainly due to increased input costs and strong demand from home buyers. The average residential price across the top seven cities witnessed a 21 per cent annual growth, rising from Rs 7,080 per sq ft to Rs 8,590 per sq ft. Anarock tracks seven cities - Delhi-NCR, mumbai Metropolitan Region (MMR), Chennai, Kolkata, Hyderabad, Bengaluru and Pune.
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