Delhi-NCR saw fastest rise in luxury home prices from 2022-25: Report
The Indian real estate market has experienced significant growth over the past few years, with luxury home prices witnessing a substantial surge. According to a recent report by ANAROCK Research, Delhi-NCR has recorded the fastest rise in luxury home prices between 2022 and 2025, surpassing other major cities like Mumbai and Bengaluru. This trend is a testament to the growing demand for high-end properties in the region, driven by factors such as increasing disposable incomes, urbanization, and infrastructure development.
The report reveals that Delhi-NCR’s market registered a whopping 72% jump in luxury home prices, rising from ₹13,450 per square foot in 2022 to ₹23,100 per square foot in 2025. This surpasses the Mumbai Metropolitan Region, which logged a 43% rise, and Bengaluru, which followed with a 42% increase over the same time. The significant growth in Delhi-NCR’s luxury home prices can be attributed to the region’s robust economic growth, improved infrastructure, and the presence of a large number of high-net-worth individuals.
The demand for luxury homes in Delhi-NCR is driven by the region’s status as a hub for business, politics, and entertainment. The city is home to many multinational corporations, startups, and government institutions, attracting a large number of professionals and entrepreneurs who are willing to pay a premium for high-end properties. Additionally, the region’s well-developed infrastructure, including international airports, highways, and public transportation systems, makes it an attractive destination for luxury homebuyers.
The report also highlights the growing trend of luxury homebuyers seeking properties in emerging micro-markets, such as Gurugram, Noida, and Greater Noida. These areas offer a range of amenities, including golf courses, clubs, and high-end retail spaces, making them attractive to buyers who are looking for a luxurious lifestyle. The development of new infrastructure projects, such as the Delhi-Mumbai Expressway and the Jewar Airport, is also expected to boost the demand for luxury homes in these micro-markets.
In contrast, Mumbai, which was once the hub for luxury homebuyers, has seen a relatively slower growth in luxury home prices. The city’s luxury market has been impacted by factors such as high prices, limited availability of land, and infrastructure challenges. However, Mumbai still remains one of the most expensive cities in India, with luxury home prices averaging around ₹40,000 per square foot.
Bengaluru, which has emerged as a major hub for the IT and startup industries, has also seen significant growth in luxury home prices. The city’s luxury market has been driven by the demand from young professionals and entrepreneurs who are looking for high-end properties with modern amenities. However, the city’s luxury market is still relatively affordable compared to Mumbai and Delhi-NCR, with prices averaging around ₹15,000 per square foot.
The growth in luxury home prices in Delhi-NCR and other cities is expected to continue in the coming years, driven by factors such as urbanization, infrastructure development, and increasing demand from high-net-worth individuals. However, the report also notes that the luxury home market is highly sensitive to economic and regulatory changes, and any fluctuations in the economy or government policies could impact the demand and prices of luxury homes.
In conclusion, the report by ANAROCK Research highlights the significant growth in luxury home prices in Delhi-NCR, which has surpassed other major cities like Mumbai and Bengaluru. The region’s robust economic growth, improved infrastructure, and growing demand from high-net-worth individuals have driven the demand for luxury homes, making it an attractive destination for luxury homebuyers. As the Indian real estate market continues to evolve, it will be interesting to see how the luxury home market in Delhi-NCR and other cities responds to changing economic and regulatory conditions.
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