Estate 128, Our First Residential Offering in Delhi NCR
The Indian real estate industry is dynamic and undergoes several changes as new players enter the market. One of the biggest markets in India is the National Capital Region (NCR), which includes Delhi, Gurugram, and Noida. These cities see a lot of interest from customers and investors in both commercial and residential segments.
One trend being taken into account by real estate companies in Delhi NCR is the interest in luxury residential projects in Noida, Gurugram, and Delhi. According to a report by CBRE, sales of luxury homes jumped 97% YoY among seven major cities between January and September 2023. Delhi NCR accounted for 37% of the sales, proving the rising demand for bigger, more luxurious homes among the population.
New Luxury House Sales and Launches Over 5 Years
Source: CBRE Research Q1, 2024
Increasing house sizes and sales
After the pandemic, customers and investors alike have shifted their interests to luxury housing, preferring bigger homes with state-of-the-art amenities. The report by property consulting firm Anarock reflects the same with NCR seeing the highest growth in average flat size at 37% in 2023.
This trend signifies a shift towards quality living. It shows the customers’ intention to buy a home and have an elevated lifestyle. That is why real estate companies in Delhi NCR are focusing on developing luxury residential properties in Noida and Gurugram. Customers are looking for the affluence that comes with luxury housing, and it is also becoming a great investment option for them.
As with any market, real estate is also affected by customer demand, so there is an increase in the development of luxury housing projects. It was noted that 60% of the interested buyers were aged 35-44, meaning that mid-level professionals opt for luxury real estate as a safe investment option. On the other hand, more women buyers are entering the real estate investment market, and they invest more in the premium and luxury segments because they consider them more secure options.
All these factors have contributed to the 81% yearly jump in the number of luxury units sold in 2023 across seven major cities in India, of which Delhi NCR leads the way. But beyond the usual factors like prestige and premium amenities that come with luxury residential projects, why are buyers seeking such houses?
Luxury comes with added benefits
The buyers and investors of luxury residential properties in Noida, Gurugram, and other metropolitan cities are diverse. From high-net worth individuals (HNIs) and expatriates to celebrities and real estate investors, luxury housing has become synonymous with financial investment. For them, a premium residence offers convenience, security, and status.
Real estate companies in Delhi NCR understand the needs of buyers and investors who prefer luxury residential projects in Noida, Gurugram, and Delhi. Luxury housing is developed with high-end amenities, sophisticated interiors, and advanced security systems to cater to their affluent lifestyles. These projects are also great investment opportunities for buyers and investors to expect high returns.
With the rapid growth and economic development of Delhi NCR, individuals have a lot more disposable income, and they prefer to invest in real estate. Indian real estate is the prime investment option, especially for HNIs and non-resident Indians (NRIs). To add to the appeal of luxury housing, real estate companies in Delhi NCR choose locations that put the residential projects in proximity to business hubs, international airports, and elite educational institutions. HNIs prefer strategic locations as accessibility improves their quality of life and saves valuable time.
Tennis Court at Estate 128
Another benefit is the aspect of community living wherein the buyers can enjoy living among other people who belong to the same social circles, which can help them make important connections. Luxury residential projects offer a variety of exclusive clubs, fitness centers, recreational facilities, etc., that become great grounds for networking and creating a community with like-minded people.
In conclusion, real estate dynamics in Delhi NCR are seeing positive and impressive growth in the luxury segment. With ample benefits and an ever-increasing demand, real estate companies in Delhi NCR expect luxury residential projects in Noida and other cities in the region to continue to improve their sales.
