Now Reading: Delhi-NCR home prices jump 12% in July-September quarter
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Delhi-NCR home prices jump 12% in July-September quarter
Residential property prices in Delhi-NCR rose 12% year-on-year in the July-September quarter of the current financial year, according to a report by real estate consultancy Anarock. The average price in the region reached Rs 9,980 per sq ft, up from Rs 8,900 per sq ft in the same period last year.
Anarock attributed the rise to increased construction costs and builders shifting focus to luxury projects. Across India's top seven cities, average residential prices rose 7% year-on-year to Rs 9,714 per sq ft, with Delhi-NCR recording the highest increase.
Industry executives said demand for homes remains steady, supported by improving infrastructure, connectivity, and employment in NCR. Strong end-user demand is driving sales, with homes now seen as a long-term need rather than just an investment, they added.
Indian Opinion Analysis
The 12% annual price rise in Delhi-NCR far outpaces the 7% average across top cities, signalling that the region's housing market is heating up faster than peers. Rising construction costs and a builder shift toward luxury projects are pushing up prices, but steady demand from end-users, backed by better infrastructure and jobs, is absorbing the increases. The Anarock data leaves open whether this pace is sustainable, especially if global economic conditions weaken further. The next quarterly report will show if sales volumes can keep up with rising prices.
Source: tv9hindi.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
