The real estate market of Delhi-NCR is currently growing at the fastest pace compared to other cities of the country. Growing residential demand, strong investment climate and rapidly improving infrastructure have made it a preferred destination for developers. Now many well-known realty companies of big cities like Mumbai and Bengaluru are also moving towards NCR.
Entry of big developers increased the stir
Mumbai’s famous real estate company Oberoi Realty is preparing to launch its first project in Gurugram in this financial year. Apart from this, big companies like Lodha and Rustomji are also exploring possibilities of buying land here. Bengaluru-based Prestige Group and Shobha Limited, which are already present in NCR, are now expanding the scope of their projects.
Mumbai-based companies like Godrej Properties and Tata Realty are also focusing on strengthening their presence in Delhi-NCR. At the same time, new companies like Dalcor are choosing Gurugram for their first real estate project. It is clear from this that now NCR has become the center of the new era of real estate.
Strong infrastructure increases attraction
According to an ET report, real estate experts believe that the biggest reason behind the growth of Delhi-NCR is its strong infrastructure. Dwarka Expressway, Noida Expressway and the upcoming Noida International Airport are giving a new direction to this area. These projects have improved the connectivity of the area, due to which new residential and commercial areas are developing rapidly.
Gurugram leads in luxury housing
Every year around 50,000 to 60,000 new residential units are launched in NCR, the total value of which is more than ₹1 lakh crore. The largest share among these is from luxury projects. Nearly 87% of NCR’s luxury projects were launched in Gurugram in the recently concluded quarter. The premium segment is seeing an annual increase of 10-12% in prices, which shows the strength and investment potential of this market.
Fastest price rise in NCR
According to an ET report, according to real estate consultancy Anarock, an average increase of 9% was recorded in residential prices in seven big cities of the country in the last quarter. But prices in NCR increased by 24% which is the highest in entire India. After this there was an increase of 10% in Bengaluru. Experts say that earlier there was a lack of project quality and transparency in NCR, but now this picture is changing with the arrival of big branded developers.