NCR’s strategic location, improved infrastructure, and diverse range of luxury homes have solidified its position as a preferred destination for luxury housing investments.
The luxury housing market in India’s National Capital Region (NCR) has witnessed a remarkable surge in recent times. According to a report by CBRE South Asia Pvt Ltd, luxury housing sales in India experienced a staggering year-on-year increase of 151% in the first quarter of 2023. Notably, sales in Delhi-NCR rose by an impressive 216%.
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This surge in demand for luxury homes can be attributed to various factors, including a preference for larger residences and the emergence of high-end amenities and facilities. Furthermore, the NCR’s strategic location and improved infrastructural facilities have bolstered the region’s status as a prime destination for luxury housing investments.
Shift in Demand and New Launches
One of the key factors contributing to the increased demand for luxury housing is the shift in preferences post-pandemic. Homebuyers are now seeking larger and better homes, and apartments with areas exceeding 2,500 square feet have become highly sought after. Developers have responded to this demand by launching a wide range of premium housing options, including apartments, villas, independent floors, and farmhouses. These offerings boast expansive terraces, airy interiors, open surroundings, and top-class amenities, attracting significant buyer interest. Additionally, commercial spaces with high-value retail chains are also witnessing a surge in demand, providing a holistic luxury experience within the project complex.
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Discerning Buyers and Investments
Buyers, particularly in the post-pandemic era, have become increasingly discerning, seeking impeccable interiors and an array of high-end amenities within the project complex. Strategically located high-value apartments have witnessed remarkable sales, with buyers inclined towards premium housing developed by reputable companies. Moreover, for High Networth Individuals (HNIs) and Non-Residential Indians (NRIs), the current relatively low prices of luxury properties have presented an enticing investment opportunity. The influx of NRI investments in this segment is expected to rise further, as indicated by numerous reports.
NCR’s Dominance in the Luxury Housing Segment
The National Capital Region has established itself as a frontrunner in the sales of premium housing. The number of units sold in the NCR region has shown significant improvement. The region boasts diverse luxury homes, including gated societies, independent floors, plotted developments, and high-rise apartment complexes, catering to individual preferences. Furthermore, enhanced infrastructure facilities such as improved road networks and expanded metro networks have contributed to the overall connectivity of the region, further bolstering the momentum of the luxury housing market in NCR.
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Future Outlook
Driven by aspirations for a high-quality lifestyle, availability, and promising returns on investment, the ultra-rich, including NRIs, remain bullish about luxury properties in the NCR region. With a positive outlook for the Indian economy, the luxury housing segment is poised to maintain its current momentum and surge ahead in the coming years.
The luxury housing market in the NCR region has witnessed significant growth, with sales experiencing a remarkable increase year-on-year. The shift in buyer preferences for larger residences and the emergence of high-end amenities have fueled the demand for luxury housing. NCR’s strategic location, improved infrastructure, and diverse range of luxury homes have solidified its position as a preferred destination for luxury housing investments. With a positive outlook for the future, the luxury housing segment in NCR is set to continue its upward trajectory, offering exceptional lifestyle and investment opportunities for discerning buyers.
