Luxury housing market in Delhi-NCR is booming – Here’s why
Driven by economic growth, rapid urbanisation, increased individual earnings, and mounting interest in an opulent lifestyle, luxury housing in India is on a roll currently. Buyers now demand bigger spaces fitted with modern amenities and splendid architectural layout with meticulous design to ensure experiential living. And amid the rising demand, Delhi-NCR dominated the luxury housing Q1 launches.
From sprawling villas to swanky penthouses nestled amidst greenery, the Delhi-NCR region has become a hotspot for luxury housing. Its real estate market offers an array of premium projects that precisely match the demands of discerning property buyers. In recent times, an unprecedented surge in luxury real estate sales reflects the growing affluence of the region.
Commenting on the same, Ashish Sharma, AVP Operations, Brahma Group, said, “The luxury real estate market in Delhi-NCR is booming, reflecting strong demand for high-end housing. This demand is driven by increased disposable income, a desire for premium living spaces, and the region’s economic resilience. According to Cushman and Wakefield, 61% of new projects are upscale, reflecting robust demand. Delhi-NCR led a notable upswing in luxury housing in Q1 2024, with sales outpacing other segments. Sales in the luxury segment have significantly outpaced those in other housing categories, signaling a shift in buyer preferences towards exclusivity and luxury. Developers are responding with numerous high-end projects, highlighting a vibrant and dynamic market poised for sustained growth.”
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The March quarter of 2024 is a tell-tale sign of continuous rising bar of the luxury real estate sector. According
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