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Housing prices in Delhi-NCR recorded a substantial annual increase of 24 per cent during the July-September period, driven by high demand for luxury residences and well-planned lifestyle projects, according to real estate consultant Anarock. The average price in the region rose to INR 8,900 per sq ft from INR 7,200 per sq ft last year. Among seven major Indian cities, Delhi-NCR witnessed the highest growth, while Mumbai remained the costliest market. Experts attribute this rise to enhanced infrastructure, growing affluence, and changing buyer preferences prioritising quality living spaces and modern amenities.
Delhi-NCR's housing market experienced a notable annual increase of 24 per cent in the July-September period, reflecting strong demand for luxury and lifestyle-oriented homes, according to Anarock. Residential property rates in the region rose to INR 8,900 per sq ft from INR 7,200 per sq ft during the same period last year. Gurugram, Noida, Greater Noida, Delhi, and Ghaziabad continued to be the key markets driving this growth. Advertisement
Across seven major Indian cities, housing prices increased by an average of nine per cent, rising to INR 9,105 per sq ft from INR 8,390 per sq ft. Among them, Delhi-NCR recorded the maximum annual increase. Mumbai Metropolitan Region remained the most expensive housing market, with prices rising six per cent to INR 17,230 per sq ft from INR 16,300 per sq ft. Bengaluru saw a 10 per cent increase to INR 8,870 per sq ft, Pune's prices rose four per cent to INR 7,935 per sq ft, Hyderabad saw an eight per cent rise to INR 7,750 per sq ft, Chennai increased five per cent to INR 7,010 per sq ft, and Kolkata recorded a six per cent growth to INR 6,060 per sq ft.
Experts explained that the growth is closely linked to evolving buyer preferences and rising expectations. Gaurs CMD Manoj Gaur pointed out that the 24 per cent surge in NCR housing prices reflects a structural change in homebuyer behavior, with buyers focusing on ownership in well-planned cities that combine aspiration and long-term stability. Ashok Kapur, Chairman of Krisumi Corporation, highlighted that the increase signals sustained demand for quality homes, noting that buyers now look for better lifestyles, modern amenities, and value-driven living spaces rather than just property investment.
BPTP Ltd CEO Manik Malik added that the rising demand for luxury homes reflects higher affluence and global aspirations. He also mentioned that improvements in infrastructure have contributed significantly to both demand and prices in the region. Ashish Jerath, President of Sales & Marketing at Smartworld Developers, explained that Gurugram, being a mature market, saw price growth supported by infrastructure projects such as the Dwarka Expressway and the opening of UER 2. Meanwhile, Noida is emerging as a luxury-focused market, with new launches benefiting from the upcoming international airport and superior infrastructure, which is reflected in increasing average sale prices.
Vijay Harsh Jha, founder and CEO of Gurugram-based VS Realtors, observed that the rate of price growth could moderate in the near term due to a slowdown in sales and new launches. Anarock data shows that during the July-September period, housing prices across the seven cities grew by 1-3 per cent compared to the April-June quarter, indicating moderation after steep post-COVID increases.
Source PTI
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