October 30, 2024 |
Gurgaon Leads NCR’s Luxury Real Estate Boom With Over Rs 1 Lakh Crore in New Projects
Gurgaon has firmly established itself as the top luxury real estate market in the National Capital Region (NCR), driven by an influx of high-end residential projects and robust demand from affluent buyers. According to a recent CBRE report, sales of properties priced over Rs 4 crore surged by 38% from January to September 2024 across major Indian cities, with Delhi-NCR taking the lead. Gurgaon’s growing appeal is supported by extensive infrastructure upgrades and a rising interest in premium housing.
Top developers like DLF, TARC, and Max Estates have rolled out significant projects in Gurgaon, while M3M, Smartworld, and Paras Buildtech are also advancing their luxury ventures across the city. DLF’s latest offering, Dahlias, represents one of the largest launches, with units starting at 9,500 sq. ft., helping the company maintain its substantial 25% share in the ultra-luxury market over the past five years.
In line with Gurgaon’s demand for upscale housing, Smartworld Developers recently achieved record sales, selling all 900 units of its high-end residential project, Smartworld Sky Arc, within 36 hours of RERA approval. “The Gurugram real estate market is already heating up,” said Vivek Singhal, CEO of Smartworld Developers, who pointed to Golf Course Extension Road and Dwarka Expressway as key hotspots for affluent buyers.
The demand is also fueling a trend for exclusive amenities and spacious condominiums, with developers noting a significant rise in buyers’ expectations. Kunal Rishi, COO of Paras Buildtech, emphasized, “We have recently witnessed a strong surge in demand for luxury condominiums, particularly in Gurugram, with buyers increasingly inclined toward exclusive properties that offer a superior lifestyle.”
The festive season has further intensified the market’s growth, a point underscored by Shashank Vashishtha, Executive Director of Exp Realty India. He remarked, “The festive season has bolstered demand, with many buyers eager to invest in luxury projects during this auspicious time.” He noted that Gurgaon’s strategic layout, social infrastructure, and thriving commercial sector have positioned it as one of Northern India’s most attractive realty destinations, especially for NCR’s high-net-worth individuals.
As Gurgaon’s luxury real estate market strengthens, experts forecast continued growth through 2025, driven by expanded infrastructure, increased connectivity, and a sustained influx of high-end buyers. The city’s development trajectory is expected to reinforce its dominance in NCR’s premium housing sector well into the future.
Source: APN News
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