Delhi-NCR Housing Surge: A Closer Look at Soaring Prices

Delhi-NCR's housing market experienced significant price hikes of 48-72% over the past three years. Anarock reports the largest increase in luxury homes, with rates rising to Rs 23,100 per sq ft. Price growth varied across segments, with mid-income housing rising by 54% and affordable housing by 48%.

The Delhi-NCR housing market is witnessing unprecedented price hikes, with increases ranging from 48% to 72% over the past three years, driven by strong demand, according to a report from real estate consultant Anarock.

Luxury housing, defined as properties priced above Rs 1.5 crore, experienced the most significant growth, with a staggering 72% increase in pricing. The average rate surged from Rs 13,450 per square foot in 2022 to Rs 23,100 now, signaling robust demand for premium real estate in the region.

Meanwhile, mid-income housing, valued between Rs 40 lakh and Rs 1.5 crore, saw a 54% price rise, while the affordable housing segment, priced below Rs 40 lakh, increased by 48%. In comparison, the Mumbai Metropolitan Region remains priciest, with luxury homes averaging Rs 40,200 per square foot.

(With inputs from agencies.)