Housing Supply in NCR Jumps 44% to 53,000 Units

31 Dec 2024 CW Team

The Delhi-NCR housing market saw a 44% increase in new supply this year, reaching 53,000 units, with almost 60% of the new launches being ultra-luxury homes priced over Rs 2.5 crore, according to Anarock. In 2023, 36,735 residential units were launched in the region.

Anarock’s data covers the primary housing market for 2024 in seven major cities: Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Chennai, Hyderabad, and Kolkata. The increase in Delhi-NCR’s supply is noteworthy, as it contrasts with a 7% decline in launches across all seven cities compared to 2023.

Despite the rise in supply, housing sales in Delhi-NCR fell by 6% in 2024 to 61,900 units. Nationally, sales also saw a slight 4% drop to 459,650 units, down from 476,530 units in 2023. Anarock Chairman Anuj Puri attributed the slowdown to factors such as election uncertainty and delays in project approvals.

However, the sales value grew by 16%, driven by rising average prices and larger unit sizes, which offset the decrease in volume.

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