+
Anarock: NCR and MMR House prices raised up to 49%
Real Estate

Anarock: NCR and MMR House prices raised up to 49%

According to data from Anarock, average residential prices in the National Capital Region (NCR) and Mumbai Metropolitan Region (MMR) have surged by 49% over the past five years. NCR saw a 49% increase in average residential prices from Rs 4,565 per sq ft in H1 2019 to Rs 6,800 per sq ft in H1 2024, while MMR experienced a 48% rise from Rs 10,610 per sq ft to Rs 15,650 per sq ft during the same period.

Anuj Puri, chairman of Anarock Group, noted that NCR, previously known for its high unsold inventory driven by speculative demand and supply, has reduced its unsold stock by over 52% in the past five years?from approximately 1.82 lakh units at the end of H1 2019 to around 86,900 units by the end of H1 2024. The inventory overhang in NCR decreased to 16 months in H1 2024 from 44 months in H1 2019. This improvement was largely due to a conscious reduction in fresh supply, with only about 1.72 lakh units launched in NCR between H1 2019 and H1 2024.

In contrast, MMR currently has approximately 1.95 lakh units of available stock. Over the past five years, the region has seen a 13% decline in its unsold inventory, driven by significant new launches to meet rising demand. MMR saw over 5.26 lakh units launched between H1 2019 and H1 2024, three times the new supply in NCR during this period. The inventory overhang in MMR decreased to 14 months by the end of H1 2024 from 34 months at the end of H1 2019.

According to data from Anarock, average residential prices in the National Capital Region (NCR) and Mumbai Metropolitan Region (MMR) have surged by 49% over the past five years. NCR saw a 49% increase in average residential prices from Rs 4,565 per sq ft in H1 2019 to Rs 6,800 per sq ft in H1 2024, while MMR experienced a 48% rise from Rs 10,610 per sq ft to Rs 15,650 per sq ft during the same period. Anuj Puri, chairman of Anarock Group, noted that NCR, previously known for its high unsold inventory driven by speculative demand and supply, has reduced its unsold stock by over 52% in the past five years?from approximately 1.82 lakh units at the end of H1 2019 to around 86,900 units by the end of H1 2024. The inventory overhang in NCR decreased to 16 months in H1 2024 from 44 months in H1 2019. This improvement was largely due to a conscious reduction in fresh supply, with only about 1.72 lakh units launched in NCR between H1 2019 and H1 2024. In contrast, MMR currently has approximately 1.95 lakh units of available stock. Over the past five years, the region has seen a 13% decline in its unsold inventory, driven by significant new launches to meet rising demand. MMR saw over 5.26 lakh units launched between H1 2019 and H1 2024, three times the new supply in NCR during this period. The inventory overhang in MMR decreased to 14 months by the end of H1 2024 from 34 months at the end of H1 2019.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?