Boom in Ultra-Luxury Housing Supply in Delhi-NCR Surges by 44%

The Delhi-NCR housing market experienced a significant 44% increase in new supply, reaching 53,000 units, with nearly 60% classified as ultra-luxury homes priced above Rs 2.5 crore. Despite a slight decline in sales, the overall market saw a jump in sales value due to rising prices and larger unit sizes.

The Delhi-NCR housing market has seen a remarkable 44% surge in new supply this year, totaling 53,000 units, with nearly 60% of these falling into the ultra-luxury segment priced over Rs 2.5 crore according to Anarock.

New launches of residential properties across seven major Indian cities were marked by both significant opportunities and challenges. In Delhi-NCR, the launch of 53,000 housing units in 2024 represents a striking rise from the previous year's figures. However, sales in Delhi-NCR dipped by 6% to 61,900 units.

Anarock Chairman Anuj Puri notes that 2024 presented a mixed scenario for the Indian housing sector. While project approvals slowed and elections dampened momentum, the market witnessed a 16% rise in overall sales value, attributed to price appreciation and larger unit sizes.

(With inputs from agencies.)