Delhi-NCR's Realty Market Sees Unprecedented Growth with $633 mn PE Investment in H1 2024
Delhi-NCR's real estate market is booming with increased private equity investment, driven by demand for luxury housing and commercial assets.
DelhincrReal EstatePrivate Equity InvestmentLuxury HousingCommercial AssetsReal Estate MumbaiSep 22, 2024
Out of the total investment in Delhi-NCR, $483.6 million was directed into the office segment, while $149.6 million went to the residential. The sector attracted $2.77 billion in Q2 of 2024, propelling the total investment for the H1 of 2024 to a record-breaking $3.9 billion. This growing private equity investment reflects the growing and strengthened interest of investors in the sector.
Commenting on the same, Sandeep Chhillar, Founder and Chairman of Landmark Group, says, “As Delhi-NCR's real estate market spectates this tremendous growth across commercial and housing segments, the increasing demand for luxury housing and Grade A office spaces has catalyzed this process. The rising private equity investment in the sector further stimulates market sentiments, strengthening growing investor confidence.
Delhi-NCR, particularly areas like Noida and Gurugram, has recorded a hike in sales volumes, with luxury properties seeing a boost. This growth is primarily driven by the demand for luxury housing and the premium amenities it offers, steady price appreciation steered by a growing buyer base, and improved infrastructure. On the commercial front, India's office space market is set for record-breaking growth numbers with leasing across the top 8 cities anticipated to cross 80 million sq. ft. in 2024.
Prateek Tiwari, Managing Director of Prateek Group, says, “Buyers consistently look for luxury housing options that define their lifestyle and offer exceptional amenities at the same time. These preferences have led Delhi-NCR to grow in a flash, giving numerous options to them. This sustained interest of buyers and investors continues to boost the region's growth, allowing developers to actively respond with new high-end projects.”
A combination of factors drives the real estate growth of Delhi-NCR. From improved infrastructure through new expressways and metro connectivity to upcoming developments like the Noida International Airport in Jewar, these developments have enhanced the region's connectivity to nearby areas. This accessibility has welcomed a gamut of investment activity in the region welcoming investors and businesses both.
Dr. Gautam Kanodia, Founder of Kanodia Group and Kanodia Cement, says “The hike in PE investment during H1 2024 has bolstered the growth prospects of Delhi-NCR's real estate market cementing its position as a preferred destination for luxury living and business locations both. Gurugram has been booming with luxury housing demand and we can anticipate a large-scale development in the coming years.
Ashwani Kumar, Pyramid Infratech, says, “Gurugram has been prominently known for its high-rise condominiums, multinational corporations, and vibrant lifestyle. The city's planned infra, its connectivity, and proximity to IGI Airport have made it a favorite location for homebuyers and businesses. All these factors together make Gurugram stand out from the rest of the areas, raising the demand for luxury living in the city.”
Therefore, at the core of this panoramic growth, rising luxury residential and commercial projects, together with substantial private equity investment, signal a brighter future for Delhi-NCR. As more and more investors are recognizing the region's potential, the real estate sector can expect continued investment and long-term growth.
Frequently Asked Questions
What is the total private equity investment in Delhi-NCR in H1 2024?
$633.3 million
What is the main driver of growth in Delhi-NCR's real estate market?
Demand for luxury housing and Grade A office spaces
Which areas in Delhi-NCR have recorded a hike in sales volumes?
Noida and Gurugram
What is the expected growth in India's office space market in 2024?
Leasing across the top 8 cities is anticipated to cross 80 million sq. ft.
What is the outlook for Delhi-NCR's real estate sector?
Continued investment and long-term growth
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