NCR sees luxury housing surge to 45% as affordable sales drop to 24%

NEW DELHI: NCR is now among the most dynamic real estate markets. Over the last five years, this region has seen several significant trend changes, with current housing demand increasingly favoring luxury units.

According to the most recent ANAROCK data, NCR experienced total housing sales of around 32,200 units in the first half of 2024, with the luxury segment holding a 45 percent share, while the affordable segment was limited to 24 percent. In comparison, sales of luxury homes were a mere 3 per cent while the affordable sales share stood at 49 per cent in 2019.

NCR is currently one of the most vibrant realty markets. In a region that has witnessed several notable trend reversals in the past five years, housing demand has now tilted towards luxury units.

According to the latest ANAROCK data, NCR saw total housing sales of approximately 32,200 units in H1 2024, with 45 per cent share being commanded by the luxury segment, and the affordable segment restricted to 24 per cent. In comparison, sales of luxury homes were a mere 3 per cent while the affordable sales share stood at 49 per cent in 2019.

Noida and Greater Noida together saw 8,425 units sold in H1 2024, with 42 per cent (3,550) units being luxury, and 13 per cent (1,100) units being in the affordable segment. The highest sales share of 45 per cent or 3,770 units was in the mid and premium segments priced between Rs 40 lakh and Rs 1.5 crore.

In 2019, Noida and Greater Noida saw sales of 21,770 units, with 44 per cent (9,565) units in the affordable segment, and just 4 per cent (990) units were in the luxury segment.

Ghaziabad, Faridabad, Delhi and Bhiwadi together saw 6,205 units sold in H1 2024, of which the luxury segment accounted for over 715 units, while affordable housing saw 1,920

units sold. The maximum sales of 3,570 units were in the mid and

premium segments.