Gurugram outshines NCR peers in residential sales for the 1st half of 2024

Gurugram's real estate: Gurugram emerged as the frontrunner in residential real estate across NCR in the first half of 2024, with notable sales figures compared to other cities. According to Anuj Puri, Chairman of ANAROCK Group, Gurugram saw approximately 17,570 units sold in H1 FY25, marking it as the most active real estate market in the region.

Luxury homes lead sales

Luxury homes dominated the sales in Gurugram, with around 59 per cent of transactions, translating to approximately 10,365 units, falling into this segment. Affordable housing also performed well, comprising 27 per cent of sales, which equals about 4,710 units. 

In comparison, in 2019, Gurugram had sold about 13,245 units, with affordable housing making up 43 per cent, which was around 5,740 units, and luxury homes accounting for just 4 per cent, approximately 470 units.

Noida’s mid-range boom

Noida and Greater Noida combined reported around 8,425 units sold in H1 FY25. The luxury segment accounted for 42 per cent of these sales, equating to about 3,550 units, while affordable housing constituted only 13 per cent, approximately 1,100 units. 

The mid and premium segments saw the highest activity, with 3,770 units, or 45 per cent, sold in the price range of Rs 40 lakh to Rs 1.5 crore. In 2019, these cities had the highest sales in NCR, with around 21,770 units sold. 

Of these, affordable housing made up 44 per cent, which was approximately 9,565 units, and luxury homes represented only 4 per cent, about 990 units.

Sales trends in other areas

In other NCR cities, including Ghaziabad, Faridabad, Delhi, and Bhiwadi, approximately 6,205 units were sold in H1 FY25. Of these, the luxury segment saw over 715 units sold, while affordable housing contributed to 1,920 units. 

The mid and premium segments dominated with about 3,570 units sold. In 2019, these cities had seen around 11,900 units sold, with the majority, approximately 7,875 units, in the affordable segment and only 115 units in the luxury category.