Over the years, Delhi-NCR has witnessed rapid expansion in high-end residential properties due to rapid urbanization, increasing in demand, and growing economic activity.
Delhi-NCR has emerged as one of the important destinations among the luxury housing market in India. Over the years, the region has witnessed rapid expansion in high-end residential properties due to rapid urbanization, increasing in demand, and growing economic activity.
According to a recent report by JLL, Delhi-NCR stands out as a leader among the top seven cities in terms of luxury sales in the country. It holds a 65 per cent share, with a total of 4,763 units sold in H1 2024.
On the other hand, Gurugram has excelled as a leading performer, with 88 per cent of all launches concentrated on the Dwarka Expressway and Southern Peripheral Road regions.
Cities such as Noida, Greater Noida, and Ghaziabad are also witnessing a change in the preference of buyers, where homebuyers and investors search for luxury and spacious homes along with all prime amenities. The cities continue to transform with infrastructural development and planned connectivity.
Sandeep Chhillar, Founder and Chairman, of Landmark Group, says, “The new markets have tremendous potential for year-on-year capital appreciation. Booming with distinctively designed luxury projects, these new realty corridors are reshaping the luxury realty landscape. The increased demand for highly amenitized and modern housing is not only defining the trend but also indicating a favourable growth trajectory.”
Real Estate in Delhi-NCR: Development of Micro-markets
Micro-markets in Dwarka Expressway and Southern Peripheral Road (SPR) within Gurugram are promising. The Dwarka Expressway micro-market was the best performer from the secondary market. These micro-markets attract developers who cater to the demands of discerning buyers and investors looking to invest in prime locations.
Dr Gautam Kanodia, Founder of Kanodia Group and Kanodia Cement says “Delhi-NCR is booming with all-time high demand for luxury housing. The strengthened growth momentum reflects buyers’ and investors’ bolstered confidence in the dynamic landscape of the luxury housing market. Gurugram has always been a preferred choice of luxury homebuyers and the city continues to remain the one with escalated demand. Various micro-markets like Golf Course and Dwarka Expressway are driving the interest of luxury homebuyers with their strategic location and growth potential. Such locations are highly appealing offering lucrative investment deals.”
Ashwani Kumar, Pyramid Infratech, says, “As Gurugram’s emerging micro-market, the Southern Peripheral Road displays a high potential for luxury real estate. Its strategic location and unmatchable connectivity to various parts of Delhi-NCR have attracted professionals looking to work in the region and look for luxurious living spaces. Ahead of the several luxury residential and commercial projects coming up along SPR, the region has a great potential for the sector.”
Prateek Tiwari, Managing Director, Prateek Group, says, “Noida’s strategic connectivity via the Noida-Greater Noida Expressway and other infra upgrades have enhanced its real estate appeal. On the other hand, Ghaziabad’s upgraded road networks have added tremendous value to the properties in the region. Hence, both areas offer an array of luxury housing options, attracting higher interest from buyers seeking high-quality and well-connected residences.”
Source : ET Now News
