Luxury Housing Boom in Delhi-NCR: Sales of Rs 4 Cr+ Units Rise by 27%
Delhi-NCR's luxury housing market witnesses significant growth, driven by affluent buyers' preference for enhanced amenities and NRIs' investments.
Delhi NcrLuxury HousingReal EstateNri InvestmentsInfrastructureReal Estate PuneJul 18, 2024
The Delhi-NCR region was followed by Mumbai, which recorded sales of 2,500 units, and Hyderabad, which registered sales of 1,300 units. Pune witnessed sales of 1,100 luxury units, recording a 450 per cent year-on-year growth, making it a notable player in the luxury housing market.
The overall housing market in India recorded a total of 156,000 units being sold in the January-June period. Sales of luxury housing in the top cities registered a 40.1 per cent year-on-year growth in the April-June quarter. Delhi-NCR emerged as a prominent market in the June quarter as well, followed by Mumbai and Hyderabad. Kolkata also saw a notable two-fold increase in luxury residential sales.
The surge in demand for luxury housing reflects a growing preference by affluent buyers for enhanced amenities and more spacious living areas. The aspirational class is also driving the sales of luxury units. Further, NRI investments are also leading to a surge in demand.
According to Anshuman Magazine, chairman & CEO of India, South-East Asia, Middle East & Africa, CBRE, the mega infrastructure projects across the country, including transportation networks, highways, airports, and metro systems, are poised to bolster real estate growth. 'These developments are likely to unlock new markets, establish satellite cities, and stimulate growth in peripheral areas, making luxury housing an attractive investment,'
Frequently Asked Questions
What was the growth rate of luxury housing units in Delhi-NCR in the first half of 2024?
The growth rate of luxury housing units in Delhi-NCR in the first half of 2024 was 27%.
Which city recorded the highest sales of luxury housing units in the first half of 2024?
Delhi-NCR recorded the highest sales of luxury housing units in the first half of 2024, with 8,500 units sold.
What is driving the demand for luxury housing in India?
The demand for luxury housing in India is driven by affluent buyers' preference for enhanced amenities and more spacious living areas, as well as NRI investments.
How many luxury housing units were sold in Pune in the first half of 2024?
Pune witnessed sales of 1,100 luxury units in the first half of 2024, recording a 450 per cent year-on-year growth.
What is expected to bolster real estate growth in India?
Mega infrastructure projects across the country, including transportation networks, highways, airports, and metro systems, are expected to bolster real estate growth in India.
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