Exciting Developments Post-Elections Fuel Market Growth

This festive season, Delhi-NCR is poised for a remarkable surge in housing projects, with developers ready to launch over ₹1 lakh crore worth of new initiatives. The recent conclusion of the Haryana elections has cleared the path for major real estate players to unveil their ambitious plans, coinciding perfectly with the Diwali season.

Major Developers Line Up Grand Projects

According to Economic Times, prominent developers like DLF, Signature Global, TARC, and Max Estates have already initiated significant projects in Gurugram. Other major players, including M3M, Smartworld, Trident Group, Central Park, Paras, County Group, Gaur Group, BPTP, and Adani Realty, are in the pipeline to launch new housing projects in Noida and Gurugram.

Rising Demand for Homes in 2024

Real estate experts predict a substantial increase in housing demand this year. Akash Ohri, Joint Managing Director and Chief Business Officer of DLF Homes, notes that the luxury housing segment will see a particularly notable rise in interest. DLF is set to launch an ultra-luxury project worth ₹34,000 crore, featuring apartments starting from 9,500 square feet, underscoring the growing appetite for high-end real estate.

Gurugram Emerges as a Hotspot

Vivek Singhal, CEO of Smartworld Developers, highlights the booming demand in Gurugram’s real estate market, particularly along luxury corridors like Golf Course Extension Road and Dwarka Expressway. Beyond Gurugram, significant property demand is also emerging in Noida and Ghaziabad, with the Gaur Group reporting the sale of 1,200 luxury apartments worth ₹3,000 crore in Ghaziabad.

Luxury Homes in High Demand Nationwide

The luxury housing segment is witnessing explosive growth, with a recent CBRE report indicating a staggering 37.8% year-on-year increase in sales of homes priced at ₹4 crore and above in the first nine months of 2024. Delhi-NCR, along with Mumbai and Hyderabad, leads the country in luxury property sales, reflecting a robust recovery and rising affluence among buyers.

As the festive season approaches, the real estate landscape in Delhi-NCR is set for an exciting transformation, making it a prime time for potential homeowners and investors alike.