This Diwali season, Delhi-NCR is expected to witness an explosion of new housing projects worth over Rs 1 lakh crore, marking one of the biggest real estate surges in recent times. Several developers had delayed the launch of these projects due to the Haryana elections. Now, with the elections concluded and a new government in place, the market is primed for action, with big names in the real estate industry preparing to roll out their projects in the festive season.
Key Developers Gearing Up for Diwali Launch
Well-known developers such as DLF, Signature Global, Max Estates, and TARC are already moving forward with significant developments in Gurugram. Additionally, builders like M3M, Smartworld, Trident Group, Central Park, Paras, County Group, Gaur Group, BPTP, and Adani Realty are all set to unveil new housing projects in Noida and Gurugram.
Demand for Homes Expected to Surge
Real estate experts predict a significant rise in demand for homes this year. Akash Ohri, Joint Managing Director and Chief Business Officer of DLF Homes, has pointed out that the housing market is experiencing robust demand, particularly for luxury properties. DLF alone is preparing to launch an ultra-luxury project worth Rs 34,000 crore, with apartment sizes starting at 9,500 square feet. Over the past five years, DLF has held a 25% share of the ultra-luxury housing segment, where properties are priced above Rs 25 crore.
Gurugram Real Estate Hotspot
Gurugram remains one of the hottest real estate markets in the NCR. According to Vivek Singhal, CEO of Smartworld Developers, areas like Golf Course Extension Road and Dwarka Expressway are witnessing high demand for premium and luxury homes, making it an attractive location for upcoming housing projects.
Noida and Ghaziabad Also Witnessing Strong Demand
Not only Gurugram, but Noida and Ghaziabad are also experiencing a rise in property demand. Gaur Group has already sold 1,200 luxury apartments worth Rs 3,000 crore in Ghaziabad, while more projects are being launched in Noida. Both cities are expected to see further growth in the coming months.
Surge in Luxury Home Sales Across India
The luxury housing market across India has seen tremendous growth in 2024, with a 37.8% increase in sales of properties priced above Rs 4 crore, according to a CBRE report. Cities like Delhi-NCR, Mumbai, and Hyderabad are leading the charge, driven by strong demand for high-end homes.
With this upcoming Diwali season, Delhi-NCR’s real estate market is set to experience a major boom, providing opportunities for homebuyers and investors alike. The demand for luxury homes, in particular, is expected to continue growing, driving the success of new projects across the region.
