#Odisha

Delhi-NCR Records 30% Surge in Housing Prices in 2024

Housing prices in Delhi-NCR saw the highest rise among seven major cities in 2024, with a steep 30% increase attributed to rising input costs, according to a report by real estate consultant Anarock.

The average residential price in Delhi-NCR surged from ₹5,800 per square foot in 2023 to approximately ₹7,550 per square foot in 2024, marking the sharpest yearly growth among the country’s key property markets.

This significant price hike occurred despite an increase in housing supply and a marginal dip in sales during the year. Experts noted that the rising cost of construction materials and labor were primary contributors to the price escalation.

Anarock’s report highlighted that other major cities, including Mumbai, Bengaluru, and Hyderabad, also saw price increases but none matched the growth rate of Delhi-NCR.

The data underscores Delhi-NCR’s growing prominence as a real estate hotspot, with developers and buyers navigating a challenging market environment shaped by fluctuating costs and economic pressures.

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