High-end housing sales in Delhi nearly doubled in 2024

Annual sales increased 89% YoY to 29,760 units.

In a report, JLL said nearly 6,500 high-end housing units were sold in Delhi in Q4 2024, taking the annual sales up to 28,760 units. High-end housing sales in 2024 increased by 89% compared to 2023.

“A majority of the high-end housing units sold during the quarter and the year were in Gurgaon, followed by Noida. The micromarkets of Dwarka Expressway and New Gurgaon collectively contributed 43% to the overall high-end housing sales in NCR during the year,” the report added.

Here’s more from JLL:

Almost 5,100 high-end homes were launched in the quarter, taking the annual launches up to over 31,000 units. High-end housing launches in NCR in 2024 surpassed that of 2023 by 136% y-o-y.

The micromarkets of Dwarka Expressway, New Gurgaon and Golf Course Extension Road in Gurgaon dominated the high-end housing launches in NCR during the year, with a combined share of 54%.

Capital values and rents for high-end homes rise during the year

In Q4 2024, high-end capital values in NCR were up by 3.9% compared to the previous quarter. At end-Q4 2024, the average capital value for high-end homes reached INR 16,542 sq ft, up by 18.5% y-o-y.

Along with capital values, rents also rose during the quarter and were up by 2.4% q-o-q and 9.6% on a yearly basis.

Outlook: High-end housing sales to remain strong in 2025, backed by quality supply

In NCR, prominent developers continued to acquire land parcels for proposed residential developments throughout the year; thus, the high-end housing supply in 2025 is expected to remain robust.

Demand for high-end housing in NCR is likely to remain strong, driven by factors like new quality launches and people looking to upgrade to bigger homes with better amenities and specifications. With sustained demand, capital values too are set to rise.