Luxury Housing Market Soars as Affluent Buyers Drive Demand
India's luxury housing sales see 40% year-on-year surge in Q1 2024, driven by increased disposable incomes and preference for high-end homes.
Luxury HousingReal EstateCredai NcrRaheja DevelopersMrg GroupReal EstateJul 17, 2024
In the National Capital Region (NCR), areas such as Noida, Greater Noida, Ghaziabad, and Gurgaon have emerged as prime locations for luxury housing, offering a blend of modern amenities, strategic locations, and premium lifestyle choices.
According to industry experts, the growth of luxury residences is driven by an increase in demand from affluent buyers looking for high-end properties with modern amenities. Additionally, the popularity of luxury housing is also driven by the changing lifestyle aspirations of buyers who seek exclusivity and superior quality of life.
The market for residential units priced above Rs 1.5 crore has seen a marked increase in sales, highlighting the growing appetite for high-value properties. Conversely, the affordable housing segment has faced a 20% decline in sales, reflecting shifting consumer preferences and market dynamics.
Information
CREDAI NCR is a real estate industry body that represents developers and builders in the National Capital Region.
Raheja Developers is a prominent real estate development company with a presence in Delhi NCR.
MRG Group is a leading real estate development company with a focus on luxury properties.
CREDAI NCR is a prominent industry body that represents the interests of real estate developers and builders in the National Capital Region. The organization aims to promote sustainable and responsible development practices in the region.
Raheja Developers is a well-established real estate development company with a presence in Delhi NCR. The company has developed several residential and commercial projects in the region, focusing on luxury and affordable housing.
MRG Group is a leading real estate development company with a focus on luxury properties. The company has developed several high-end residential projects in Delhi NCR, offering premium amenities and lifestyle choices to its residents.
Frequently Asked Questions
What is driving the growth of luxury housing in India?
The growth of luxury housing in India is driven by increased disposable incomes, a growing preference for high-end homes, and the emergence of luxury housing as an investment instrument.
Which regions are seeing the most demand for luxury housing?
Areas such as Noida, Greater Noida, Ghaziabad, and Gurgaon in the National Capital Region are seeing the most demand for luxury housing.
What is the current state of the affordable housing market in India?
The affordable housing market in India has seen a 20% decline in sales, reflecting shifting consumer preferences and market dynamics.
What is the role of CREDAI NCR in the real estate industry?
CREDAI NCR is a prominent industry body that represents the interests of real estate developers and builders in the National Capital Region, promoting sustainable and responsible development practices.
What types of projects does MRG Group focus on?
MRG Group focuses on developing high-end residential projects in Delhi NCR, offering premium amenities and lifestyle choices to its residents.
Related News Articles
Unlocking Opportunities in the Real Estate Insurance Market: Trends, Insights, and Projections
Discover the latest trends, challenges, and opportunities in the real estate insurance market, featuring key players, regional analysis, and market segmentation.
Pune Real Estate Market Sees 50% Jump in Registered Transactions, Average Home Price Reaches Record High
The number of real estate transactions in Pune has increased significantly, with registered transactions surging by 50% in the April-June 2024 quarter.
Haryana and Jammu & Kashmir Assembly Election Dates Announced by EC; Results to be Declared on October 4
The Election Commission of India has announced the dates for the Haryana and Jammu & Kashmir assembly elections. The polls will be held in a single phase on October 21, and the results will be declared on October 4.
Century Textiles Acquires 10-Acre Land in Mumbai for ₹1100 Crore, Expects ₹14,000 Crore in Revenue
Century Textiles plans to develop the land through its real estate subsidiary Birla Estates, expecting ₹14,000 crore in revenue from the project.
Virgo Daily Horoscope for September 14, 2024: A Temporary Setback in Assets and Real Estate Deals
Be cautious with real estate deals today, as a temporary decline in assets may occur. However, this setback will be short-lived.
DLF Q2 Earnings Skyrocket: Net Profit Surges to ₹1381 Crore
DLF, India's leading real estate firm in terms of market capitalization, has reported a remarkable surge in its Q2 net profit, jumping over twofold to ₹1381 crore. The company, primarily engaged in the development and sale of residential and commercial pr