Delhi NCR’s luxury housing market has seen a remarkable resurgence, with high-end sales doubling year-on-year to 8,183 units in the July-September quarter of 2024, according to JLL. While this represents a 9% decline quarter-on-quarter, the annual growth of 109% underscores the robust demand for premium homes. Gurgaon remains the epicentre, accounting for an impressive 82% of these sales, followed by Noida at 15%. The Dwarka Expressway cluster in Gurgaon stood out, contributing to 54% of the high-end transactions, bolstered by successful projects from developers such as Godrej Properties, Max Estates, and Krisumi Corporation.
The quarter also witnessed significant activity in new launches, with over 8,600 high-end units introduced in Delhi NCR. Gurgaon led the charge with 85% of these launches, particularly in the Dwarka Expressway and Golf Course Road clusters. Noteworthy projects included Max Estates’ Estate 360 and Adani Lushlands. Capital values across the region climbed 4.6% quarter-on-quarter and an impressive 20.4% year-on-year, reflecting growing buyer confidence. Even Greater Noida, traditionally a hub for affordable housing, saw a shift towards luxury offerings, with prices crossing ₹10,000 per sq ft.
Sustainability is increasingly shaping the luxury housing market, with developers prioritising eco-friendly designs and energy-efficient features. These initiatives resonate with environmentally conscious buyers while enhancing long-term property value. Gurgaon’s infrastructure advancements, including metro connectivity and road upgrades, further align with sustainable urbanisation, driving demand for premium homes in the region.
Looking ahead, the high-end housing market is poised for sustained growth. Developers have acquired prime land parcels in Gurgaon and Noida, ensuring a steady pipeline of luxury projects. With rising disposable incomes and a preference for spacious homes with modern amenities, demand for premium housing remains resilient. As the market evolves, it reflects a blend of luxury aspirations and sustainable living.
