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Private Sector | Uttar Pradesh - India | PID: 203383
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From a hub of unscrupulous real estate activities to a vibrant realty market, NCR has seen significant transformations in the past five years, particularly in housing demand trends. According to ANAROCK data, luxury housing now dominates the market, comprising over 45% of the total 32,200 units sold in H1 2024, a stark contrast to 2019 when luxury homes accounted for only 3% of sales. The affordable segment's share has dropped from 49% in 2019 to 24% in H1 2024.
Anuj Puri, Chairman of ANAROCK Group, highlights Gurugram's significant role in this shift. In H1 2024, Gurugram sold approximately 17,570 units, with 59% (about 10,365 units) being luxury homes, compared to just 4% (around 470 units) in 2019. Conversely, affordable housing sales in Gurugram have decreased from 43% (about 5,740 units) in 2019 to 27% (approximately 4,710 units) in H1 2024.
Noida and Greater Noida together sold approximately 8,425 units in H1 2024, with 42% (around 3,550 units) in the luxury segment and 13% (about 1,100 units) in the affordable segment. The mid and premium segments, priced between INR 40 lakh and INR 1.5 Cr, saw the highest sales at 45% (about 3,770 units). In 2019, these cities led NCR sales with around 21,770 units, of which 44% (about 9,565 units) were affordable and 4% (approximately 990 units) were luxury homes.
Ghaziabad, Faridabad, Delhi, and Bhiwadi sold approximately 6,205 units in H1 2024, with 715+ units in the luxury segment and 1,920 units in the affordable segment. The mid and premium segments accounted for the highest sales at approximately 3,570 units. In 2019, these cities sold around 11,900 units, with the affordable segment leading at about 7,875 units, followed by approximately 3,910 units in the mid and premium segments, and just 115 units in the luxury segment.
| Updated on: 11 - Sep - 2024
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