NCR Real Estate Market Sees Surge in Sales

In 2024, the National Capital Region (NCR) of India experienced a significant shift towards premium residential real estate, with properties priced above Rs 1 crore making up 80% of total sales. Notably, the Rs 1-2 crore segment saw the highest sales volume, reflecting a broader trend of premiumisation in the housing market, while affordable housing faced challenges. The report by Knight Frank India also indicated that sales in the Rs 2-5 crore segment surged by 84% year-over-year, further emphasizing the demand for luxury homes in the region. Additionally, land acquisitions in India's real estate sector exceeded 2,200 acres, driven by strong investor confidence and urbanization trends. Major cities like NCR, Bengaluru, and Mumbai accounted for substantial portions of this growth, with residential projects dominating land deals. Meanwhile, the capital district of Thiruvananthapuram in Kerala emerged as a leader in residential unit registrations, fueled by demand from NRIs and professionals seeking a balanced lifestyle and job opportunities.