Delhi-NCR Reaches Rs 1 Lakh Crore Housing Sales in 2024

Delhi-NCR has pipped Mumbai and Hyderabad to emerge as the top-selling housing market in 2024, owing to 66 per cent growth in sales value in Gurugram alone. With this, Delhi-NCR has breached the Rs 1 lakh crore sales value thresholds. The total sales value of Delhi-NCR rose by 63 per cent in 2024 to Rs 1.53 lakh crore, while that of Mumbai stood at Rs 1.38 lakh crore, up 13 per cent and Hyderabad at Rs 1.05 lakh crore, down 18 per cent, according to PropEquity.

The total sales value of homes sold in 2023 in Delhi-NCR stood at Rs 94,143 crore, Mumbai at Rs 1.22 lakh crore and 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 with the former surpassing the latter in 2024.

The report added that with this feat, the share of home sales value in Delhi-NCR rose from 16 per cent in 2023 to 23 per cent in 2024. The share of Mumbai in total sales value rose from 20 per cent in 2023 to 21 per cent in 2024 while Hyderabad declined from 21 per cent in 2023 to 16 per cent in 2024. The total sales value of the top 9 cities rose by 12 per cent to Rs 6.73 lakh crore in 2024 compared to Rs 6 lakh crore in 2023. The top 9 cities are Delhi-NCR, Mumbai, Navi Mumbai, Pune, Thane, Kolkata, Bengaluru, Chennai and Hyderabad.