Delhi-NCR Luxury Market Remains Top Real Estate Destination

New Delhi, December 27, 2024: Delhi-NCR has firmly positioned itself as a preferred real estate destination driven by its offerings across various segments. The region has taken the lead in India’s property market, fuelled by strong demand in the luxury sector and market stability. Further, the sector is driven by a growing appetite for a luxurious lifestyle. Affluent buyers increasingly seek homes that offer exclusivity, premium amenities, and a superior quality of life. This niche segment redefines the investment landscape, promising high-growth potential and substantial returns.

The ‘Homebuyer Sentiment Survey—H1 2024’, conducted by FICCI-Anarock, revealed that real estate continues to be the “most preferred investment option” for people in the country. At least 59 per cent of the respondents who participated in the survey say they prefer real estate as their top investment choice. Amid the rising demand for luxury housing in Delhi-NCR, the region topped with a 72 per cent YoY increase from Jan-Sep 2024, according to a report titled India Market Monitor Q3 2024 – Residential by CBRE South Asia Pvt. Ltd.

Besides, this interest in luxury housing in Delhi-NCR is largely attributed to factors like strategic location and connectivity, rising demand for luxury living, price appreciation, and rental yield potential. The region’s proximity to key business districts and airports and seamless connectivity through established metro and road networks make it a prime investment hub. The evolving preferences of homebuyers toward opulent lifestyles, smart homes, and integrated community living with exclusive amenities have further fueled demand for luxury residences. 

Additionally, robust infrastructure projects, including Dwarka Expressway, SPR Road, Noida-Greater Noida Expressway, and Yamuna Expressway, have significantly enhanced the livability and value of high-end properties, opening new possibilities for unparalleled luxury experiences. Meanwhile, developments like the Jewar Airport in Noida are anticipated to propel Delhi-NCR’s position as a thriving luxury real estate investment epicenter, offering substantial returns and unmatched lifestyle opportunities.

Delhi-NCR offers a range of prime locations that are driving the luxury housing market. The region held a remarkable share of luxury residential launches, with 88 per cent of new launches focused on the Dwarka Expressway and Southern Peripheral Road areas. Both areas’ 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. 

In terms of ROI, Delhi-NCR’s luxury market competes strongly with other metropolitan hubs like Mumbai and Bengaluru due to its strategic location and a higher inventory of ultra-modern developments. As per Square Yards, property price appreciation, in some of the markets in NCR has been steady, with values almost doubling since 2019. In 2024, some of the locations in Gurugram saw a 13 per cent increase compared to the previous year, with rates ranging between INR7,500 and INR8,500 per sq. ft. and some projects exceeding ₹10,000 per sq. ft. These data highlight the growing desire to invest in high-end residential properties in these areas.

As Delhi-NCR continues solidifying its position as a magnet for luxury real estate investors, the realty market caters to a diverse and discerning clientele. As the region evolves further, it promises unparalleled opportunities for both end-users and investors, redefining the benchmarks of luxury and securing its place as one of India’s most promising real estate markets.

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