34% of Delhi-NCR homes listed for sale currently are priced over Rs 10 cr

As per exP India, Delhi-NCR is the city best poised to benefit from the significant growth seen across India's luxury property market.

At least 34 percent of homes listed for sale in Delhi NCR are priced at Rs 10 crore or more. Between January and September 2024, the region saw a 72% increase in luxury property sales, according to data analyzed by eXP India, the Indian arm of the global real estate company eXP World Holdings.

 

In contrast, Mumbai saw only an 18% increase in luxury property sales during the same period.

 

According to eXP India, Delhi-NCR is the region best poised to benefit from the significant growth seen across India’s luxury property market.

 

The Indian real estate market is currently experiencing substantial growth in luxury property sales, driven by evolving lifestyle preferences among affluent buyers in search of more spacious, high-quality living spaces. This demand is being fueled, in part, by Non-Resident Indian (NRI) investments, as well as infrastructural developments.

 

 

In response, developers have invested heavily in high-end residential projects. For example, DLF’s $4 billion ultra-luxury project near New Delhi has already sold a significant number of units, each priced at $8 million.

 

“Current stock availability is lower across Mumbai, where just 6% of all homes currently listed on the market boast a price tag of Rs 10 crore or more, followed by Gurgaon at 3%. Both Hyderabad and Bengaluru also rank in the top five, each with 2%. While stock availability is more restricted, areas like Sarjapur Road, Devanahalli, Bellary Road, and Panathur Road continue to attract high-net-worth individuals. This reinforces Bengaluru’s status as a top luxury destination, while Hyderabad continues to emerge as a player in India’s luxury market,” the report noted.

 

The Delhi-NCR housing market has also witnessed a massive 49% increase in property values over the past year, leading the nation in price growth, according to the latest report by digital real estate transaction and advisory platform PropTiger.com. This surge is largely driven by sustained demand for luxury homes, despite rising costs for building materials and labor.

 

The rise in property values is part of a broader trend of price growth across major cities in India, although Delhi-NCR stands out for its rapid appreciation. The report highlights that areas like Gurugram, Greater Noida, and Noida have experienced significant sales increases, even as national housing markets showed a decline in overall sales.

 

Delhi-NCR has also surpassed Mumbai and Hyderabad to emerge as the top-selling housing market in 2024, owing to a 66% growth in sales value in Gurugram alone. With this, Delhi-NCR has breached the Rs 1 lakh crore sales value threshold, according to a report by NSE-listed real estate data analytics firm PropEquity.

 

The total sales value of Delhi-NCR rose by 63% in 2024 to Rs 1.53 lakh crore, while Mumbai's stood at Rs 1.38 lakh crore, up 13%, and Hyderabad at Rs 1.05 lakh crore, down 18%, according to PropEquity.

 

The total sales value of homes sold in 2023 in Delhi-NCR stood at Rs 94,143 crore, in Mumbai at Rs 1.22 lakh crore, and in Hyderabad at Rs 1.28 lakh crore.

 

The total sales value of Gurugram, at Rs 64,314 crore in 2023, was nearly half of Hyderabad’s, with Gurugram surpassing Hyderabad in 2024.

 

“Gurugram, with over Rs 1 lakh crore in sales, alone accounted for over 66% of the total sales value in Delhi-NCR, helping it emerge on top. In fact, the sales value of Gurugram is second only to Mumbai. Cities like Ghaziabad, Greater Noida, Faridabad, and New Delhi have also seen a substantial rise in sales value in 2024. Noida, however, saw a slight decline,” said Samir Jasuja, Founder & CEO of PropEquity.