News
Delhi-NCR Leads Luxury Real Estate Market with 64% of New Launches in H1 2024: Realtors
Delhi-NCR / September 17, 2024: Based on a new study conducted by Jones Lang LaSalle (JLL), a global real estate services firm, the residential market in Delhi-NCR experienced a notable recovery in the first half of 2024. A total of 23,500 units were released, which was more than the 22,707 units recorded in 2023. This significant growth shows the increasing need in the area for luxurious residences.
Among the top seven cities in India, Delhi NCR held a remarkable 64% share of luxury residential launches. With 88% of new launches focused on the Dwarka Expressway and Southern Peripheral Road areas, Gurugram emerged as the top in the luxury real estate market. This growth indicates the increased desire in premium living spaces, fueled by the region’s growing infrastructures and connections.
With 4,763 units sold in the first half of 2024, Delhi NCR similarly rules the industry in terms of luxury home sales, with a dominating 65% market share. The area’s strong performance highlights the rising demand for luxury real estate as affluent individuals and discriminating purchasers look for upscale apartments that offer exclusivity, comfort, and modern amenities.
The rise in launches and sales points to the future growth of the luxury real estate sector in Delhi NCR, positioning the area as the premier location for luxury living in India.
“The report cements Delhi-NCR’s position in luxury residential launches for H1 2024,” stated Pradeep Aggarwal, Founder and Chairman of Signature Global (India) Limited.
The rise is a sign of the area’s rising reputation for premium real estate. Furthermore, this demand is further driven by affluent buyers’ increased desire to live in opulent homes and their rising disposable income. Given Gurgaon’s established status as a top option for high-end real estate, we predict exponential rise in the city’s luxury index.
Kushagr Ansal, Director Ansal Housing said, “The luxury real estate segment is currently gaining momentum, driven by several factors such as the growing aspiration for a high-end lifestyle, the development of Dwarka Expressway, increasing disposable incomes, and continuous infrastructure expansion.”
Developers are responding to this demand by pushing the boundaries of design and technology. “For developers, the luxury segment is incredibly lucrative. The focus is now on sustainability, innovation, and creating homes that resonate with the affluent class. These are not just homes—they are landmarks,” says Sachin Gawri, Founder and CEO, RISE Infraventures.
-
News2 weeks ago
Address Advisors’ Property Buffet 2024 Attracts Over 2700 Visitors, Rs 150 Crore in Potential Deals
-
News2 weeks ago
Pacific D21 Mall to Present Theatrical Rendition of Manto’s Toba Tek Singh on September 21
-
News4 weeks ago
Signature Global Awards Rs 1,144 Crore Contract for Luxury Project to Ahluwalia Contracts
-
Guest Column2 weeks ago
The Rise of Gated Villas in Goa: A Preferred Investment for Young Professionals
-
News2 weeks ago
UPDIC Attracts Rs 25,000 Crore in Investments, Set to Drive Real Estate Growth: 360 Realtors Report
-
News3 weeks ago
Navin’s Founder Steps Up as Chairman, Son Takes Over as Managing Director
-
News1 week ago
Ghaziabad’s Strategic Location and Infrastructure Upgrades Drive Luxury Housing Market: Realtors
-
News4 weeks ago
‘The Art Event’ Brings Retro Bollywood to Life at Pacific Mall