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NCR Housing Prices Soar 12% Amidst Luxury Boom
3 Oct
Summary
- Delhi-NCR housing prices saw a 12% annual increase.
- Average residential prices reached Rs 9,980 per sq ft.
- Builders are prioritizing luxury and premium projects.
In the July-September quarter, the Delhi-NCR real estate market witnessed a substantial 12 percent annual increase in housing prices. This escalation brings the average residential price to Rs 9,980 per square foot, up from Rs 8,900 per square foot in the previous year.
The primary drivers for this price surge include rising input costs, such as land and construction materials, and a deliberate focus by developers on launching premium, luxury, and ultra-luxury homes.
Despite the higher price points, housing demand in the Delhi-NCR region remains steady. This sustained interest is bolstered by continuous infrastructure improvements, enhanced connectivity, and a growing number of employment opportunities, particularly in well-connected micro-markets.
