Business Standard-Nearly 19,000 flats priced Rs 2-5 cr sold in NCR in 2024, 84% sales growth
The National Capital Region (NCR) has witnessed a significant shift in the residential real estate market in 2024. Properties priced above Rs 1 crore have contributed to 80% of the total residential sales volume in the region, reflecting an ongoing trend of premiumization in the housing sector, according to the latest report by real estate consultancy firm Knight Frank India. The region also witnessed an on year sales growth of 84% in the Rs 2-5 crore segment, with 18,997 units sold in 2024.
The demand for high-end, spacious homes with modern amenities continues to rise, driven by affluent homebuyers prioritizing quality living spaces in strategic locations.
Notably, the Rs 1-2 crore and Rs 2-5 crore segments emerged as the most active, with major developers offering projects in prime areas of the region. This surge in sales, especially in the premium and luxury segments, is reshaping the dynamics of the NCR housing market, while the affordable housing segment has faced challenges.
