Delhi-NCR to see record housing launches in festive season
Delhi-NCR is expected to see a record number of housing-unit launches around the upcoming festive season as multiple developers acquired land in the past six months, seeking to cater to rising demand for homes.DLF, Godrej, L&T, TARC, Signature Global, and County group are among the developers that have planned launches in the second half of the year. According to Cushman & Wakefield, residential launches during the first half were already more than double of the previous year.
«There has been sustained sales growth across major Indian metropolises, but NCR saw a sizable jump in demand for the residential segment. In the past three years, the housing market in Gurugram has emerged as a hot real estate investment destination, with annual price growth reaching record highs,» said Aakash Ohri of DLF Ltd.
DLF has planned residential launches in Gurgaon, Mumbai and Chennai. In the first half of the year, as many as 10,963 residential units were launched in Delhi-NCR region which is almost the number of units launched in 2019, which was 11,643.
«The prices of (housing) units launched in the last six months have seen an increase of up to 50%. That has prompted developers to plan more launches and there is a demand for quality development,» said CEO of TARC Amar Sarin.
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