Tag: Real Estate

Residential Real Estate Trends in 2024: A Dual Outlook on Homeownership and Investment Strategies

Over the past two decades, the Indian real estate sector has endured various economic challenges, including the Global Financial Crisis of 2008 and the recent COVID-19 pandemic.

Despite these hurdles, the industry has consistently demonstrated resilience and growth.

According to a report by Naredco-Knight Frank, the Indian real estate market is poised to expand significantly, with projections indicating a substantial increase to $5.8 trillion by 2047 from $477 billion in the previous year. This growth is expected to contribute over 15 percent to the nation’s total economic output.

In the current year, the residential real estate sector is anticipated to maintain its upward trajectory, buoyed by factors such as escalating land prices motivating potential homeowners to invest, the evolving perception of houses as a crisis-resilient asset, and the emergence of niche segments like student and senior living. These trends, which have been gaining momentum over the past few years, are projected to evolve into micro segments that will contribute to the overall expansion of the sector. This evolution is being driven by the country’s transition from a lower-income to a middle-income economy, resulting in changing preferences among consumers who seek a better lifestyle catering to their evolving needs in work, education, and leisure.

Consequently, premiumization is poised to emerge as a significant trend, with an increasing number of homebuyers opting for luxury properties to elevate their living standards and capitalize on high-return investment opportunities.

Affordability has been a persistent concern for many prospective homebuyers. However, in 2024, the affordability landscape is expected to undergo positive developments, particularly with regard to financing options. Historically low interest rates, which have prevailed for several years, have reignited interest in the residential segment. Home loan rates have decreased significantly, making property investment more financially feasible. Government initiatives such as the Pradhan Mantri Aawas Yojna and staggered payment schemes offered by developers are further enhancing affordability for homebuyers.

Looking ahead, premiumization is poised to dominate the residential real estate market in 2024, with mid-premium, luxury, and ultra-luxury properties defining the sector’s landscape. This trend, coupled with rising land prices, is making property investment increasingly viable and attracting hesitant investors to the sector.

The growing emphasis on smart technologies and sustainability is also shaping the residential real estate market. Homebuyers are increasingly seeking enhanced comfort through technological advancements and sustainable living solutions. Developers are responding to this demand by incorporating features such as app-enabled support services, sustainable amenities, and smart home systems into their projects. These premium offerings cater to evolving consumer preferences and contribute to the overall elevation of the industry’s standards.

Location dynamics play a significant role in the residential real estate market in 2024. Emerging areas such as satellite townships and dedicated economic zones are expanding across major metros, offering unique opportunities for homeowners and investors. These regions, characterized by planned development and improved connectivity, are becoming increasingly attractive for property investment. Homebuyers are advised to consider properties located along metros and expressways in city outskirts to access premium properties at affordable prices.

As for the outlook on price momentum in 2024, both homeownership and rental trends are expected to coexist within the industry. While some homebuyers are purchasing properties for self-stay, others, particularly affluent individuals, are investing in second homes to generate rental income. The anticipated rise in interest rates may prompt prospective homebuyers to expedite their primary house purchases, while second home owners may seize the opportunity to maximize their returns on investment.

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Budget 2024: Real Estate Envisions Home Loan Interest Benefits, Affordable Housing Expansion

Anticipations within the real estate sector and among homebuyers center on the expectation of an increase in the deduction limit for home loan interest payments, which has remained stagnant at Rs 2 lakh annually since 2014. The Finance Minister, Nirmala Sitharaman, is gearing up to present an interim budget for 2024, with stakeholders hoping for some of their concerns to be addressed, such as adjustments to home loan interest deduction limits, reevaluation of affordable housing criteria, and recognition of the sector’s industrial status.

One key expectation is the elevation of the current Rs 2 lakh tax deduction on home loan interest to at least Rs 5 lakh, a move deemed crucial for boosting housing demand, particularly in the affordable housing segment. Additionally, there’s a call for recalibrating the concept of affordable housing to align with current market dynamics, as well as advocating for nationwide price thresholds to qualify as affordable housing, with suggestions for increases in major city budgets to make homes more accessible to a broader range of buyers.

Granting industry status to the real estate sector is also a longstanding demand, aimed at streamlining processes for developers and unlocking various benefits. Rationalizing capital gains tax, particularly by decreasing the current 20% rate, and promoting investment in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) through favorable tax policies are other measures being urged to stimulate investment and bolster the sector’s growth.

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Source : Money Control

Future Outlook: Sustaining Growth in India’s Real Estate Sector

According to a Motilal Oswal report, listed Real Estate developers are expected to gain market share as the sector’s momentum continues for at least three to four years due to an existing demand-supply balance, low inventory, favorable affordability, and gradual price hikes.

“If we take the average of pre-sales growth forecasts by various property consultants, the top 12 listed businesses are likely to record 46 percent pre-sales growth in CY23, compared to industry growth of 20 percent. DLF was the primary driver of growth, with both of its premium projects sold out in CY23. Excluding DLF, growth was 35 percent year on year, which was still much greater than industry growth, according to the brokerage’s analysis.

Over the calendar years 2019-2023, listed real estate businesses exceeded sector growth in terms of bookings by 1.4 times, resulting in a constant increase in their market share to 16.5 percent from 12 percent, the report stated.

According to the report, the majority of listed developers have a strong launch pipeline and are targeting at least two additional regions in addition to their home markets, which will result in a further increase in listed peers’ market share.

For example, Oberoi Realty’s primary market is Mumbai, but they are currently expanding into Gurugram real estate. Similarly, the SOBHA group is expanding its footprint in NCR, Hyderabad, and Pune, but its key market is Bengaluru.

Observing that the affordable segment’s share fell to 29 percent in CY23, it predicted that lower lending rates would lead to an increase in affordable housing demand. Furthermore, the government is anticipated to create incentives for low-cost housing, which would be a significant positive trigger, the report stated.

Absorption in the Mumbai Metropolitan Region (MMR) and Pune has eclipsed the previous cycle’s high, with 87,000 and 49,000 units, respectively. Despite a robust commercial cycle in CY15-19, markets such as Bengaluru and Chennai have yet to reach their full potential. According to the brokerage business, as supply in Noida improves, demand in the National Capital Region (NCR) would increase further.

The analysis predicted that on the macro level, an increase in per capita income exceeding $3,500 ($2,400 as of CY23) would be a primary driver of the growth in homeownership witnessed in China between CY2008 and CY2015. These variables might lead to a sustained increase in demand over the next three to four years.

“Inventory is yet to witness a significant increase, but prices have climbed by 14 percent on an absolute basis over the last two years, compared to 25-70 percent in the last two cycles, indicating that the sector is in the midst of an upcycle. “We believe that the current demand-supply balance, low inventory, favorable affordability, and gradual price increases will keep the momentum going for at least three to four years,” the research stated.

The United Nations predicts that more than 400 million people will live in Indian cities by 2030. Rising incomes, favorable affordability, and rising urbanization will continue to drive housing demand in urban and metropolitan areas, according to the research.

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Source : Money Control

Dwarka Expressway in Gurgaon experiences significant Real Estate appreciation


The Dwarka Expressway real estate market has seen a large increase in property values, indicating a good trend in the overall real estate landscape. The significant increase in property values across numerous areas along the Dwarka Expressway, shows vital insights into the changing environment of Gurgaon real estate.

In Q4 2023, the total average property price on Dwarka Expressway varied between Rs 11,300 and Rs 11,700 per sqft, representing a significant rise over the average prices of Rs 9,600 to Rs 10,000 per sqft reported in Q4 2022. Average prices in Q3 2023 ranged from Rs 10,500 to Rs 10,800 per square foot, representing a 6.5% quarter-on-quarter increase and a respectable 14.3% year-on-year gain.

The substantial development recorded in the Dwarka Expressway’s real estate market indicates the region’s resiliency and desirability. The year-on-year increase in property prices reflects the region’s ongoing desire for high-quality residences. This research is an excellent resource for investors, homebuyers, and developers interested in the Dwarka Expressway’s growing patterns.

Sector 102, Gurgaon: Located on the Dwarka Expressway, Sector 102 has had a spectacular 34.5% year-on-year rise, with typical property values ranging from Rs 10,500 to Rs 10,700 per square foot in Q4 2023. The quarterly increase rate was 6%, compared to prices ranging from Rs 9,900 to Rs 10,100 per square foot in Q3 2023 and Rs 7,400 to Rs 7,600 per square foot in Q4 2022.

Sector-37D, Gurgaon: Sector-37D, which offers residential units in the mid-income budget category, had a 36.8% year-on-year gain, with property values average between Rs 12,000 and Rs 13,000 per square foot in Q4 2023. The quarterly growth rate was 1.4%, compared to prices ranging from Rs 11,800 to Rs 11,950 per square foot in Q3 2023 and Rs 7,500 to Rs 8,000 per square foot in Q4 2022.

Area 36A, Gurgaon: In Q4 2023, average property prices in this luxury area near the Dwarka Expressway increased significantly, ranging from Rs 13,900 to Rs 14,100 per square foot, representing a 31.2% year-on-year surge. The quarter-on-quarter growth rate for the same time was 24.5%. In Q4 2022, average costs were between Rs 10,150 and Rs 10,350 per square foot, while in Q3 2023, they were between Rs 10,850 and Rs 11,050 per square foot.

Sector 104, Gurgaon: Sector 104, located on the Dwarka Expressway and featuring a mix of ready-to-move and under-construction housing units, saw an increase in average property prices in Q4 2023, ranging from Rs 10,100 to Rs 11,500 per sqft, representing a 19.7% year-on-year gain. The same era saw a 1.5% quarterly growth rate. In Q4 2022, the average price was from Rs 8,100 to Rs 8,500 per square foot, whereas in Q3 2023, it was between Rs 9,700 and Rs 9,900 per square foot.

Sector 99, Gurgaon: Dominated by land plots and ready-to-move flats, Sector 99 performed well in Q4 2023, with average prices ranging from Rs 10,500 to Rs 11,000 per sqft, representing a 31.7% year-on-year increase. The same era saw a 5.5% quarterly growth rate. In Q4 2022, the average price was from Rs 7,100 to Rs 7,525 per sqft, while in Q3 2023, it was between Rs 9,900 and Rs 10,100 per sqft.

Area 108, Gurgaon: A mid-income area in New Gurgaon that predominantly offers residential units, Sector 108 had an increase in average property prices in Q4 2023, ranging from Rs 12,800 to Rs 12,925 per sqft, representing an 18% year-on-year gain. The quarter-on-quarter growth rate for the same time was 7.2%. In Q4 2022, the average price was from Rs 10,500 to Rs 11,075 per sqft, whereas in Q3 2023, it was between Rs 11,900 and Rs 12,200 per sqft.

Sector 106, Gurgaon: Strategically placed along the Dwarka Expressway, Sector 106 saw significant year-on-year growth of 12.5% in Q4 2023, despite a modest decline in QoQ by 0.8%. The average property prices in this sector varied from Rs 11,900 to Rs 12,575 per square foot, with Q4 2022 prices ranging from Rs 10,400 to Rs 11,000 per sqft and Q3 2023 prices ranging from Rs 12,000 to Rs 12,125 per sqft.

Sector 113, Gurgaon: Sector 113, a posh area in Gurgaon, saw an 11% year-on-year increase in Q4 2023, with typical property values ranging from Rs 12,900 to Rs 13,100 per square foot. The same era saw a 5.5% quarterly growth rate. In Q4 2022, the average price varied from Rs 11,500 to Rs 11,750 per sqft, whereas in Q3 2023, it was between Rs 12,200 and Rs 12,400 per sqft.

Sector 84, Gurgaon: Sector 84’s property market had a significant  year-on-year increase of 27% in Q4 2023, with average prices ranging from Rs 10,000 to Rs 11,000 per sqft. The same era saw a 5% quarterly growth rate. In Q4 2022, the average price was from Rs 7,300 to Rs 7,700 per sqft, whereas in Q3 2023, it was between Rs 9,500 and Rs 9,710 per sqft.

Sector 99A, Gurgaon: Sector 99A, which offers residential flats and plots in the mid-income budget category, performed well in Q4 2023, with average property prices ranging from Rs 9,800 to Rs 10,000 per sqft, representing a 23% year-on-year gain. The same era saw a 7% quarterly growth rate. In Q4 2022, the average price was from Rs 7,500 to Rs 7,700 per sqft, whereas in Q3 2023, it was between Rs 9,100 and Rs 9,375 per sqft.

Sector 109, Gurgaon: One of the top sectors on the Dwarka Expressway, Sector-109 had a phenomenal year-on-year gain of 28.5% in Q4 2023, with average property values ranging from Rs 12,200 to Rs 12,400 per square foot. The same era saw a 39% quarterly growth rate. In Q4 2022, the average price varied from Rs 8,700 to Rs 8,900 per square foot, while in Q3 2023, it was between Rs 8,200 and Rs 8,400 per square foot.

This data shows a constant and sustained increase trajectory in property values along the Dwarka Expressway, making it a desirable destination for potential buyers, investors, and developers.

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Luxury Living on the Rise : Exploring the Surge in Larger Residences


Builders are building larger houses to fulfill customer demand, with the average size of apartments increasing 11% last year across seven major cities, according to Anarock.

Anarock, a real estate consultancy, analyzed the new supply of housing units in seven major cities’ principal residential markets throughout 2023.

According to the report, average flat sizes in the top seven cities increased to 1,300 square feet last year, up from 1,175 square feet in 2022.

The average size of apartments decreased in the Mumbai Metropolitan Region (MMR) and Kolkata, but increased in Delhi-NCR, Bengaluru, Hyderabad, Pune, and Chennai by 2023.

The average size was 1,050 square feet in 2019, 1,167 sq ft in 2020, and 1,170 sq ft in 2021.

“Northbound housing prices in the top cities have in no way dispelled demand for generous living spaces,” Anarock Chairman Anuj Puri stated.

He stated that the supply of larger luxury residences expanded dramatically last year, with the luxury category accounting for around 23% of all new releases.

“The epidemic sparked a surge in demand for larger-sized homes, which shows no signs of abating three years later. “Led by an enduring ‘new normal’ in homebuyer preferences, this demand appears eminently sustainable,” Puri added.

Krisumi Corporation MD Mohit Jain stated that the aspirational element of society is driving demand for luxury homes that are roomy and larger in size.

“This trend may continue for the foreseeable future,” he warned.

In 2023, the average flat size fell in just two large cities: Mumbai Metropolitan Region (MMR) and Kolkata.

In MMR, the average flat size declined 5% to 794 square feet in 2023, from 840 square feet in 2022.

In Kolkata, the average flat size fell by 2% to 1,124 square feet last year, from 1,150 square feet in 2022.

Source : Business Standard

DLF Q3 Results: Net profit rises 26% YoY at Rs 649 crore

DLF Q3 Results: Total income increased to Rs 1644 crore in October-December 2023-24 from Rs 1559.66 crore in the previous year, according to a regulatory filing.

DLF Limited declared a consolidated net profit of Rs 649 crore for the third quarter of this fiscal year on January 24, up 26% year on year, according to a regulatory filing. It further stated that DLF achieved its best quarterly sales booking of Rs 9,047 crore, owing to various launches throughout the quarter.

According to a regulatory filing, the company’s consolidated sales increased to Rs 1644 crore in October-December 2023-24, up from Rs 1559.66 crore the previous year.

DLF posted a total net profit of Rs 629 crore in the second quarter of current fiscal year, up 29 percent YoY.

DLF’s EBITDA in the third quarter was Rs 633 crore, with an operating surplus of Rs 1108 crore. The company’s EBITDA was Rs 591 crore in the second quarter.

“We generated our best quarterly sales booking of Rs 9,047 crore, owing to various releases throughout the quarter. 

Throughout the quarter, we introduced three new products totaling more than 5 million square feet (msf) across several categories. The launches during the quarter were DLF Privana South, Gurugram, a premium high-rise development, Central 67, Gurugram, a shop-cum-offices planned development, and The Valley Orchard, Panchkula, low-rise independent floors,” the real estate company stated in the statement.

DLF reported strong demand for all of these goods, with both Gurugram projects selling out in record time.

“With this robust performance, new sales bookings for the nine-month period totaled Rs 13,316 crore, comfortably exceeding our full-year target. “We increased our net cash position to Rs 1,246 crore at the end of the quarter,” the business stated.

DLF’s office portfolio performed consistently, while the retail section continued to develop strongly.

DLF Cyber City Developers Limited (DCCDL)’s consolidated revenue for the office portfolio in Q3FY24 was Rs 1,476 crore, an increase of 8% year on year. The consolidated profit for the quarter was Rs 434 crore, a 21% year-on-year increase, according to the business.

DCCDL’s credit rating was improved to ICRA AA+/Stable this quarter, demonstrating the intrinsic soundness and quality of our rental portfolio, according to the business.

“Our non-SEZ division continues to run at a robust 97% occupancy rate. Our new office complexes in Gurugram and Chennai continue to attract considerable interest from big occupiers, resulting in a pre-leasing of around 91 percent. The government’s plan to change SEZ laws to allow floor-wise denotification should also contribute to a rebound in the SEZ market. “We anticipate that occupancy levels in this segment will return to normal in the coming quarters,” DLF stated.

The firm stated that it will continue to focus on expanding its retail offering across numerous geographies.

DLF is the largest real estate firm by market capitalization. It has produced over 153 real estate projects totaling more than 330 million square feet. The Group has 215 million square feet of development potential in the residential and commercial areas. The company’s commercial portfolio spans more than 40 million square feet and generates rent.

Source : Money Control

Budget 2024: Real Estate Primed for ‘Housing for All’

The forthcoming Budget 2024 is expected to promote ‘Housing for All’, tax relief measures, and sustainability initiatives to help India’s real estate sector flourish.

The Indian real estate market is primed for a bright future, fuelled by urbanization, good governmental reforms, improving consumer sentiment, and a rise in disposable income.

In 2023, the real estate sector in India saw extraordinary expansion, breaking previous records and demonstrating great improvement.

Policy improvements, a positive consumer attitude, rising disposable incomes, and an increased desire for bigger houses have all contributed to this development.

As the nation’s urban population grows, so will the need for residential and commercial space.

The optimistic home-buying mentality that emerged in 2023 is projected to carry over into 2024.

With urbanization as the key engine, demand for real estate is expected to continue strong.

Property prices are likely to increase significantly, but at various rates across cities and regions.

Metropolitan locations are expected to have bigger price rises than smaller cities, reflecting the dynamic character of the real estate industry.

Budget Predictions for Real Estate

The previous Union Budget was promising in terms of increased emphasis on long-term investments, with a significant increase in capital expenditure and a dedicated focus on accelerating technological advancements across a variety of sectors, including 5G labs, agricultural tech, AI, infrastructure, and real estate.

In the next Budget 2024, we predict that the Prime Minister’s aim of ‘Housing for All’ would be prioritized in order to maintain supply-side stimulation and promote end-user demand.

The government is anticipated to implement a tax relief package to make houses more accessible, hence increasing demand.

We expect the government would enhance the maximum deduction limit for home loan interest rates from ₹2 lakh to ₹5 lakh.

A stable and predictable fiscal environment is critical at this time to build on existing consumer confidence in the real estate sector, so we anticipate that the Interim Budget for 2024 maintains the current tax regime to prevent short-term turbulence in the overall housing market.

Recognizing the significance of sustainability, the budget is expected to maintain its emphasis on energy transition in infrastructure development, urban planning, affordable housing, domestic manufacturing, and ease of doing business.

Allocating funds from the Urban Infrastructure Development Fund (UIDF) is essential for assisting governmental agencies in building urban infrastructure in tier 2 and tier 3 cities.

This innovative approach is intended to accelerate the development of real estate in these undeveloped markets.

As the real estate sector anticipates the Budget 2024, hopes are high for a sustained emphasis on ‘Housing for All,’ tax breaks, and environmental programs.

This industry is confident about its prospects for long-term growth, which has been strengthened by urbanization trends and constructive governmental reforms.

The forthcoming budget is expected to have a significant impact on the future of India’s real estate market.

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Source : Live Mint

The demand for high-quality living will persist in 2024

Dr. Dharmesh Shah, CEO of Hero Realty, says that high-quality living will take center stage, with a liking for big residences and lifestyle statements.

Following a record-breaking 2023, India’s real estate industry is expected to increase again in 2024. Fueled by excellent economic performance, the momentum built during the previous year is expected to usher in a new era of prosperity and dynamism. Customers want to add that X-factor to their living environments. Whether visually, technologically, in terms of amenities, or a combination of the three.

The Delhi-NCR area emerged as a leader in this rise, with a remarkable 216% increase in luxury house sales. This jump was ascribed to stronger economic indicators and increasing investments by non-resident Indians (NRIs). As strategic expansions into Tier 2 and Tier 3 cities progressed, the sector’s flexibility was demonstrated by the acquisition of 1,461 acres for residential construction.

As India’s real estate market heads into 2024, the stage is set for further growth and prosperity. According to Euromonitor International, India’s luxury housing industry is predicted to grow to Rs 82,186 crore by 2027, up significantly from Rs 53,561 crore in 2022. Reports from several agencies highlight the development potential, predicting that India’s premium real estate market would rise to 3.5 times its current size by 2030, implying gradual expansion in the following years.

In 2023, the luxury sector gained center stage, reflecting discriminating preferences for big residences and lifestyle statements. High-end sales in the comfort living sector are projected to continue, reflecting the continuous desire for large and gorgeous homes. When it comes to getting the most sought-after alternatives before others, affluent Indians have a notable fear of missing out (FOMO). Developers that are responsive to shifting customer tastes are well-positioned to capitalise on India’s attraction as a global investment destination.

One of the important expectations for the coming year is developers’ discovery of untapped development zones, which will bring energy to the real estate scene and uncover new investment prospects. Cities in the National Capital Region, including Gurugram, have been identified as significant investor hotspots for 2024, notably in the premium housing industry.

Several trends have gathered traction over the past year, creating the groundwork for an exciting and dramatic 2024. Among these developments is the growing use of virtual and augmented reality in real estate marketing.

While the usage of virtual and augmented reality is not new, its relevance is predicted to grow by 2024. As technology advances, potential buyers and investors rely more on immersive experiences to virtually tour properties from the comfort of their own homes. Virtual staging, 3D property walkthroughs, and augmented reality-enhanced property previews are expected to become commonplace, offering a more engaging and dynamic way to showcase luxury real estate.

Simultaneously, increased awareness of environmental sustainability is encouraging real estate developers to include eco-friendly elements into their developments. These patterns show the growing dimensions of the luxury lifestyle market.

As we move forward, the momentum from 2023 is likely to continue into 2024, fueled by solid economic success. The luxury category will take the spotlight, with a predilection for large residences and lifestyle statements. The real estate and luxury marketing environment is undergoing transition, and professionals who embrace and adapt to these trends will be well-positioned to prosper in a quickly changing market.

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Source : Reality Plus

The Dwarka Expressway is expected to speed up the development of real estate in Delhi-NCR

As a property investor, you’re constantly on the lookout for areas with high potential for appreciation and substantial profits. The Dwarka Expressway in Gurugram is one location worth keeping an eye on. according to reports supplied by the National Highways Authority of India authorized personnel. Officials have stated that the Dwarka Expressway’s Delhi segment is scheduled to open in February 2024. It is anticipated that the project will be completed by August 2024. This 18-kilometer-long 8-lane road is expected to transform connectivity throughout the National Capital Region. Once operational, it will shorten travel time between Gurugram and Delhi, freeing up vast amounts of land for real estate development. Several reputable builders have already started residential buildings along the freeway, with more expected in the following years.If you’re searching for a long-term investment that may outperform the market, the Dwarka Expressway is worth considering.

Overview of the Dwarka Expressway Project.

The Dwarka Expressway is a planned eight-lane access-controlled roadway in India’s National Capital Region (NCR). It would connect Gurugram and Dwarka in Delhi across an 18-kilometer distance. For individuals wishing to invest in real estate, the Dwarka Expressway has appealing options due to various features.

The highway will improve connectivity in the NCR, shortening travel times and alleviating traffic congestion. The highway is positioned near residential and business areas, including DLF phases 1-5, making it handy for residents. The highway will connect the Delhi-Gurgaon highway at Kherki Daula with the projected Magenta Line extension of the Delhi Metro.

Key Advantages of Investing Along the Dwarka Expressway

The Dwarka Expressway is expected to be a game changer for real estate in Delhi NCR. Investing in property near this road has numerous significant advantages.

Strategic Location and Connectivity.

The Dwarka Expressway connects Gurugram and West Delhi, joining key business areas such as Cyber City, Udyog Vihar, and Manesar. This improves access to commercial and IT hubs, as well as the Indira Gandhi International Airport. The journey time between Gurugram and West Delhi has been cut to around 15-20 minutes. The expressway’s strategic location and seamless connection make it a desirable destination for both businesses and investors.

High appreciation potential.

Residential and commercial property values along the Dwarka Expressway have steadily increased over the years due to scarcity of land, good infrastructure, and connectivity. According to industry analysts, house prices are likely to rise by 10-15% annually in the future years. This has the potential for significant returns on investment.

Modern amenities.

Real estate buildings along the Dwarka Expressway provide a luxurious lifestyle complete with contemporary amenities including as clubhouses, swimming pools, gyms, sports facilities, manicured gardens, and 24-hour security. These premium facilities, along with excellent connections, attract both purchasers and renters, maintaining consistent demand and occupancy rates.

Major infrastructure developments are happening in parallel.

The Dwarka Expressway is set to alter real estate in the NCR. This 18-kilometer-long, 150-meter-wide, access-controlled highway would enable signal-free connectivity between Dwarka in Delhi and Gurugram in Haryana.

Residential and Commercial projects

A significant transition is now taking place on the Dwarka Expressway, as seen by the growing number of residential and commercial constructions. Prominent developers such as Elan, M3M, Smartworld, DLF, Whiteland, and several more have emerged as crucial players in this changing environment.Their involvement demonstrates how important this corridor is becoming as a top real estate destination. The experience of these well-known developers ensures a variety of possibilities, from innovative residential complexes to state-of-the-art business spaces. Building activity has increased as a result of the Dwarka Expressway’s attraction as well as a favorable shift in the area’s urban development, which is anticipated to offer a variety of residential and commercial alternatives to both residents and business owners.

Social Infrastructure

To accommodate the rising population, the Dwarka Expressway region will have multiple schools, hospitals, and other social infrastructure. The projected Medanta Hospital and Shiv Nadar University would provide high-quality medical and educational services. Sectors 112 and 113 will also have several schools, healthcare facilities, and parks.

Connectivity and Convenience

The Dwarka Expressway offers quick access to vital places like IGI Airport (15-20 minutes), Dwarka (10-15 minutes), and Gurugram (20-25 minutes). Several modes of public transportation will be accessible along the highway, including metro rail and bus service. The region also has a self-sustaining ecology with stores, restaurants, and entertainment choices in close vicinity.

Overall, the Dwarka Expressway has strong infrastructure and connections, making it an excellent site for investment. The region has properties for all budgets as well as great expansion potential, with major infrastructural improvements occurring concurrently. The freeway is poised to transform the NCR’s real estate market.

Forecasts for Price Growth and Investment Returns

The Dwarka Expressway has the potential to transform the NCR real estate market. This 18-kilometer-long, eight-lane road would connect Gurugram with Delhi, going through relatively underdeveloped areas bordering Gurugram.

Increased accessibility.

The highway will make the neighboring areas considerably more accessible, reducing the travel time between Delhi and Gurugram. This increased connection will make the area a desirable location for residential and commercial development. The areas surrounding the highway will undergo major infrastructure and social development in the next few years to support the new communities.

Price Appreciation Potential

Because of limited availability and rising demand, properties along the Dwarka Expressway are now seeing considerable price increase. Property values are expected to rise significantly as the area’s infrastructure and connections improve. Investors that invest early will profit from huge financial gains over the following 3-5 years.

Various Housing Options

The Dwarka Expressway area will provide housing alternatives at a variety of pricing points to accommodate all budgets. Along the road, you’ll find everything from cheap apartments to luxurious villas. Real estate developers are also expected to show great interest in the region, with plans to construct a number of new residential projects in the coming years to accommodate the rising population.

Commercial opportunities

In addition to residential buildings, the Dwarka Expressway region has the potential to become a significant commercial real estate hub. As new towns emerge around the highway, there will be a greater need for retail, office, and mixed-use space. Investing in commercial property along the corridor may result in significant rental revenue and financial profits.

Conclusion

Overall, the completion of the Dwarka Expressway would change the real estate landscape of Delhi NCR. As an investor, you now have the opportunity to capitalize on this boom by investing in homes along the highway corridor before prices climb dramatically. Dwarka Expressway is positioned to become the next real estate hotspot, thanks to its world-class infrastructure, accessibility to Gurugram and Delhi, proximity to Indira Gandhi International Airport, and surrounding significant real estate developments. Those wishing to invest in Delhi NCR should move quickly. The future seems promising for this region, and the Dwarka Expressway will usher in a new age of growth, development, and wealth in the national capital region. The game changer has arrived!

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Delhi-NCR’s real estate market: Here’s why wealthy Indians are buying luxury houses.


Few launches in the luxury housing segment and the fear of missing out on the most desirable properties is making these units fly off the shelf in Delhi-NCR

Recently, two listed real estate developers in Delhi-NCR launched luxury properties ranging from ₹7 crore to ₹12 crore, which realtors reported were quickly sold out. Demand for luxury and ultra-luxury residences among rich Indians has increased, according to real estate experts, owing mostly to a lack of launches in the luxury housing market and a fear of missing out (FOMO) on the best properties in town.

There is less supply to meet rising demand for luxury residences, particularly in places like Gurgaon and Delhi. Rich investors in Delhi, who used to buy bungalows, are now seeking housing complexes with contemporary facilities, particularly dedicated parking, which is a huge difficulty, according to real estate specialists.

DLF sold over 1000 premium home units at Privana South in Gurugram for ₹7200 crore in just three days of pre-launch. The enclave will have 1,113 premium homes spread across seven storeys. These would be four-bedroom flats with penthouses. ‘DLF Privana South’ will be part of a bigger development, DLF Privana, which spans roughly 116 acres in Sectors 76 and 77.

TARC Ltd, a listed real estate business, proposes to invest over ₹1200 crore in a premium housing complex with over 400 apartments in Central Delhi. TARC Kailasa is a 1.7 million square foot complex sprawled over 6 acres of land on Patel Road in Kirti Nagar. Andy Fisher Workshop, a Singapore-based architectural studio, will design the five high-rise structures, each with 35 stories. Arabian Construction Company is the building contractor.

TARC MD and CEO Amar Sarin stated that luxury housing is here to stay as customers, particularly those who live in bungalows, seek to upgrade to apartments with modern amenities that meet all of their needs, particularly in terms of security and parking.

Luxury initiatives gain traction.

“This is a continuation of the pattern that began in March of last year. Overall, demand in luxury residences is high, particularly among experienced real estate developers. This trend is likely to continue till 2024. “We can expect more launches in the luxury category as developers continue to buy land,” said Mudassir Zaidi, Executive Director – North at Knight Frank India.

According to Ashim Chowdhury, Vice President – Research at ANAROCK Group, the DLF Project, which was successfully launched in Sector 76/77 Gurgaon on the Southern Peripheral Road (SPR), demonstrates the micro market’s future potential.

The proximity to the National Highway, as well as the additional access to the Dwarka Expressway and the Mumbai Expressway, make it a sought-after position in the city. A premium product of this size, with over 1,000 units, is expected to pave the way for many more luxury releases in the near future, as well as create a new price standard. Prices in Gurgaon are already rising as the focus switches from inexpensive and mid-range to high-end and luxury developments in burgeoning micro markets, he added.

According to ANAROCK Research, 4,76,530 units were sold in the top 7 cities in 2023. Luxury house sales priced over ₹1.5 crore accounted for 25% of the total, with around 1,19,130 units sold. In terms of market share, luxury sales increased by 7% between 2023 and 2022. If we look at the data by unit, the number of luxury units sold in 2023 has increased by 81% year on year, from around 65,677 in 2022 to over 1,19,130 in 2023. This reflects the increasing demand for luxury properties in the top seven cities.

NRIs are increasingly investing in luxury houses.

DLF’s recent Privana South project in Gurugram sold over 1000 luxury home units for ₹7200 crore within three days of pre-launch, indicating strong demand for such properties

“Buyers continue to invest in trustworthy developers with a proven track record. According to Amit Goyal, managing director of India Sotheby’s International Realty, the demand for luxury residences is strong since capital markets are performing well, individuals have more cash at their disposal, and they want to move to nicer houses.

The fact that a large amount of demand for this product originated from NRIs illustrates that the sector continues to look to India for their retirement requirements. 

The rise in demand is primarily due to lifestyle upgrades.

The wealthy prefer ultra-luxury residences for a variety of reasons. These apartments are more than simply a status symbol; they represent a lifestyle shared with others. “The demand for these homes is driven by a desire for superior amenities, a healthy lifestyle, spacious living areas, distinctive designs, and a prestigious address,” stated Ramesh Ranganathan, CEO of K Raheja Corp houses.

“Ultra-luxury developments account for 70-75% of our sales, followed by the mid-premium/luxury market. A major portion of our luxury sales come from Mumbai, where we have projects ranging from 3 crore to 50 crore. These selective clientele choose to invest in a personalized and unique lifestyle when it comes to luxury real estate,” he explained.

Delhi against Mumbai

Buyers in Delhi have always preferred bungalows over apartments, resulting in a horizontal real estate market.

Delhi is facing a pattern that Mumbai experienced decades ago. The restricted availability of premium residential homes contributes to their success. Also, the developer’s track record is driving increasing sales traction. In contrast, Mumbai buyers have several options in the luxury category, which is one of the reasons why it can take a developer six months to a year to exhaust inventory in the segment,” explained Ritesh Mehta, senior director and head (West and North) of residential services and developer initiatives at JLL.

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Source : Hindustan Times

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