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
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000