Why Delhi-NCR emerges as a luxury real estate hotspot? Realty Assistant decodes

The growth trajectory of Delhi-NCR’s real estate market has rather been prodigious & phenomenal. The real estate industry, among others, has grown enormously, keeping pace with the changing times and the vibes. The capital city is known for its remarkable blend of heritage, culture & multicultural lifestyle. Being at the heart of the development journey of the nation, New Delhi has surpassed even Mumbai & made its place as one of the fastest-growing urban cities across the globe., Delhi boasts a robust urban socio-physical infrastructure, including one of the busiest international airports in the world, a conducive convergence point for the prospering travel industry marked by 5-star hotels & pristine suites, among others.

The tactical & adroit location of New Delhi is further exacerbated by the presence of all the foreign Ambassies & High-commissions, which keeps the city connected to world diplomacy. The region also boasts easy access to satellite cities of Indian manufacturing and IT hubs like Noida and Gurgaon, respectively.

Being a business ecosystem for both local and global players, the capital city is also one of the key employment generators. Not to forget, the city is also the heart of tourism, witnessing an ever-increasing footfall of Indian as well as international tourists. All these factors, among many others, have enabled the Delhiwalas to experience life in a global metropolis. The city has a remarkable annual appreciation of 0.2% in average weighted capital values & despite the pandemic, the luxury real estate market of Delhi has continued to flourish & yielded great dividends, outshining its peers - Bangalore and Mumbai. Delhi-NCR has, undoubtedly, emerged as the paramount luxury real estate hotspot that everyone dreams of & aspires for.

The city, no doubt, is home to some of the most well-organised and zoned residential townships, brandishing central and south Delhi as the most sought-after options. The exuberance of this modern city which has a rich history of thousands of years finds its expression in the structures that have become the hallmark of life in Delhi over the centuries. The buildings, residential homes & old monuments are hors concours symbols of luxury.

Ranking at number 27 in Q3 2021, a report on Prime Global Cities designated Delhi’s growth in the luxury housing segment as promising. New Delhi topped the global index that measures the annual price appreciation of luxury residential properties. From high streets & shopping malls to a range of traditional retail destinations, all of these render the glare of Delhi into a magnetic & mesmerising aura of development & growth. New Delhi has many furs on its hats.

One such gem in the crown is the presence of world-renowned educational & professional institutions like Delhi University, and IIT-Delhi, among others. Lifestyle advantages that the city continues to offer give it an edge over other cities, attracting investors and end-users. Right from the booming IT Industry, the rise of the micro-market, and increasing Metro connectivity, everything has fuelled the demand for housing projects across the region.

Not only in residential real estate but there has also been an immense growth in commercial real estate as the high infrastructural capacity & availability of a quality workforce have lured the interests of the corporates. There has been a rise in luxury real estate owing to a rise in the number of ultra-net-worth individuals. Hence, the collection of luxury and ultra-luxury residential properties can cater to the demands of even the most discerning customers, like HNIs, UHNIs, and NRIs looking for sustainable living options. Homes designed with wellness and health amenities also gain more attention among high-profile clients.

Overall, it's not an exaggeration to say that Delhi NCR has evolved as a precious asset for the real estate market & shall continue to be a secured investment option as an expression of a niche lifestyle.