Luxury drives realty surge: 78% of Delhi NCR's sales over Rs. 3 crore (US$ 342,661), average price up 66%

India’s housing market witnessed a sharp surge in FY25, with tier I cities recording record-high primary housing sales worth Rs. 6,70,000 crore (US$ 76.53 billion), marking a 96% jump compared to FY22, according to the Confederation of Real Estate Developers' Associations of India (CREDAI) – Commercial Real Estate (CRE) Matrix Pan India report. This growth is primarily driven by a rise in average property prices rather than a steep increase in volumes. Unit sales rose just 18%, but the average ticket size jumped from Rs. 81,00,000 (US$ 99,370) to Rs. 1.35 crore (US$ 154,197). 
While the Mumbai Metropolitan Region (MMR) continues to be a strong player with Rs. 1,62,000 crore (US$ 18.5 billion) in sales, it was overtaken by Delhi NCR in total housing revenue in FY25. Delhi NCR’s residential market, especially in Gurugram, recorded a 313% surge in sales value from FY22, touching Rs. 1,70,000 crore (US$ 19.42 billion). The average ticket size in NCR spiked to Rs. 3.31 crore (US$ 378,069), with luxury units above Rs. 3 crore (US$ 342,661) contributing 78% to total revenue, up from 30% in FY22. The shift towards high-value properties and sustained buyer demand underscores changing real estate investment trends across India’s top cities.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.