Delhi-NCR has pipped Mumbai and Hyderabad to emerge as the top selling housing market in 2024 owing to 66% growth in sales value in Gurugram alone. With this, Delhi-NCR has breached the INR 1 lakh crore sales value threshold.
The total sales value of Delhi-NCR rose by 63% in 2024 to INR 1.53 lakh crore while that of Mumbai stood at INR 1.38 lakh crore, up 13% and Hyderabad at INR 1.05 lakh crore, down 18%, according to a report by NSE-listed real estate data analytics firm PropEquity.
The total sales value of homes sold in 2023 in Delhi-NCR stood at INR 94,143 crore, Mumbai at INR 1.22 lakh crore and Hyderabad at INR 1.28 lakh crore.
The total sales value of Gurugram, at INR 64,314 crore in 2023, was nearly half of Hyderabad with the former surpassing the latter in 2024.
Samir Jasuja, Founder & CEO, PropEquity said: “Gurugram, with over Rs 1 lakh crore sales, alone accounted for over 66% of the total sales value in Delhi-NCR thereby helping it emerge on the top. In fact, the sales value of Gurugram is second only to Mumbai. Cities like Ghaziabad, Greater Noida, Faridabad and New Delhi have also seen a substantial rise in sales value in 2024. Noida, however, saw a slight decline.”
The report added that with this feat, the share of homes sales value in Delhi-NCR rose from 16% in 2023 to 23% in 2024. The share of Mumbai in total sales value rose from 20% in 2023 to 21% in 2024 while that of Hyderabad declined from 21% in 2023 to 16% in 2024.
Sales Value | |||||
Cities | 2023 | 2024 | % change | % share in 2023 | %share in 2024 |
Delhi-NCR | 94,143 | 1,53,000 | 63% | 16% | 23% |
Gurugram | 64,314 | 1,06,739 | 66% | 11% | 16% |
Hyderabad | 1,28,000 | 1,05,000 | -18% | 21% | 16% |
Mumbai | 1,22,000 | 1,38,000 | 13% | 20% | 21% |
Total (top 9 cities) | 6,00,143 | 6,73,000 | 12% |
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The total sales value of top 9 cities rose by 12% to Rs 6.73 lakh crore in 2024 as 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.
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