Delhi-NCR housing prices rose 17 points in December

Housing prices in the National Capital Region (NCR) of Delhi rose significantly in December 2024. According to a report from Housing.com and the Indian School of Business (ISB), the prices jumped by 17 points compared to September. The average price for residential properties in this area reached Rs 8,105 per square foot. The increase in the Housing Price Index (HPI) highlights strong demand for larger, premium properties. The report suggests that this trend is likely to continue, driven by positive consumer sentiment. However, it also cautions that geopolitical issues could impact the costs of materials used in construction. Dhruv Agarwala, the CEO of Housing.com and PropTiger.com, noted that the rising prices reflect a growing economy but also pose challenges for the middle class in India. To ensure balanced growth in the real estate market, he stressed the importance of housing affordability. Nationwide, the HPI stood at 129 points in December 2024, which is a four-point increase from January. This growth is supported by strong demand and positive economic outlooks. The data is collected from 13 major cities across India, including Bengaluru, Mumbai, and Chennai.