Delhi-NCR home prices surge 12% YoY in Q3, outpacing other major cities

According to Anarock, the average price of residential property in Delhi-NCR climbed to Rs 9,980 per square foot during the July-September quarter, compared with Rs 8,900 in the same period last year, representing a 12% year-on-year increase and the highest growth among the top seven Indian cities, which collectively recorded a 7% rise to Rs 9,714 per square foot. The consultancy noted that developers are focusing on premium, luxury and ultra-luxury segments.

Manik Malik of BPTP Ltd said housing demand remains steady, pointing to infrastructure, connectivity and employment growth as drivers. Robin Mangla of M3M India observed that despite a slight moderation in sales, the price appreciation underscores market strength in well-connected micro-markets. Ashish Sarin of Alpha Corp Development Ltd added that strong end-user demand reflects the view of housing as a long-term need rather than merely an investment.