In a notable shift within India’s luxury real estate market, the Delhi NCR region has emerged as the front-runner for new high-end residential developments in the first half of 2024. According to recent data released by JLL, Delhi NCR accounted for a commanding 64% of all luxury residential launches nationwide during this period. The data highlights a robust increase in activity, with 23,500 luxury units introduced in the Delhi NCR market between January and June 2024, surpassing the 22,707 units launched in the same timeframe the previous year. This uptick underscores the region’s growing appeal among affluent buyers and investors.
Gurugram, a key player within the Delhi NCR area, has particularly stood out, with 88% of the luxury launches concentrated in the Dwarka Expressway and Southern Peripheral Road corridors. These areas have seen a surge in development activity, driven by heightened demand for premium residential spaces. A range of prominent developers have been active in this sector, including TARC, Sobha Ltd, Paras Buildtech, DLF Limited, M3M India, Krisumi Corporation, Experion Developers, BPTP, and Central Park. Their new projects are set to redefine the luxury living experience in Delhi NCR, featuring advanced amenities and exclusive features tailored to high-net-worth individuals.
This significant rise in luxury home launches reflects the broader trend of increasing affluence and shifting preferences among buyers, who are increasingly seeking upscale residences with superior amenities and strategic locations. The concentration of new developments in key areas like Dwarka Expressway and Southern Peripheral Road indicates a targeted approach by developers to meet the growing demand in these high-potential locales. The strong performance of Delhi NCR in the luxury real estate segment signals a continued momentum in the market, with expectations for further growth in the coming months.
