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Business News›Industry›Services›Property / C'struction›Average home prices in Delhi-NCR rise maximum at 12 pc annually in Jul-Sep: Anarock

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Average home prices in Delhi-NCR rise maximum at 12 pc annually in Jul-Sep: Anarock
Synopsis

Housing prices in the Delhi-NCR region experienced an annual increase of 12 percent during the July-September quarter. This rise is attributed to increased input costs and a focus on luxury projects by builders. Average residential prices increased to Rs 9,980 per sq ft from Rs 8,900 per sq ft last year. Demand for housing remains steady, supported by evolving infrastructure and employment opportunities.

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New Delhi: Housing prices in Delhi-NCR primary market rose a maximum of 12 per cent annually during the July-September period due to a hike in input costs and builders' increased focus on luxury projects, according to Anarock.



Real estate consultant Anarock data showed that the average residential prices in Delhi-NCR have increased to Rs 9,980 per sq ft during the July-September quarter from Rs 8,900 per sq ft in the year-ago period.



The average residential property price across the top seven cities collectively witnessed an annual growth of 7 per cent to Rs 9,714 per sq ft from Rs 9,105 per sq ft.

In Delhi-NCR, he said the land rates in Noida, Greater Noida and Gurugram have surged, as reflected in the auctions conducted by the development authorities.



Read more: Housing sales rise 3% to over 1 lakh units across top seven cities in Q3: Anarock



Kumar said that real estate developers are focusing on launching premium, luxury and ultra luxury homes only.



On the demand and price trend, Manik Malik, CEO & President of BPTP Ltd, said the housing demand remains steady.



"In NCR, evolving infrastructure, connectivity and employment-led demand continue to support residential activity, particularly in the premium and luxury segments," he added.



Robin Mangla, President of M3M India, said, "In NCR, while sales saw a marginal moderation, the 12 per cent annual appreciation in residential prices reflects the market's continued strength and the premium commanded by well-connected micro-markets."



Ashish Sarin, CEO & Director, Alpha Corp Development Ltd, said the residential real estate market's performance in the September quarter reflects the resilience of housing demand amid evolving global and economic conditions.



"Strong end-user demand continues to support sales, with housing increasingly being viewed as a long-term need rather than purely an investment avenue," he said.

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