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February 25, 2024

A Boom in Real Estate in Delhi

Real Estate in Delhi

Residential real estate in Delhi is experiencing rapid growth due to upscale neighborhoods, top schools, and an energized commercial hub. Furthermore, this lucrative market boasts higher potential returns on investments with longer lease agreements.

Millennials are driving the market forward, with 45 percent interested in residential investments and 35 per cent considering commercial spaces as possible investments.

The Delhi-Mumbai Expressway

The Delhi-Mumbai Expressway has given real estate markets in cities spanning its route a boost. This project’s objective of shortening travel times from approximately 24 to 12 hours has caused increased demand for houses and commercial spaces nearby as well as increasing logistic industry growth and stimulating economic development in these cities.

Residential real estate prices in India’s northern region have witnessed an 18 per cent surge over the past year due to rising demand and higher construction costs, with demand for commercial space on the rise due to e-commerce companies expanding operations here.

Experts predict that millennials will drive demand for both residential and commercial real estate by 2023. About 46 percent plan to buy their first homes while 29 per cent want larger spaces; demand for 2-3 BHK spaces has also seen significant traction.

Shauzab Kazmi, Assistant Director at Investors Clinic and Real Estate Advisor in Gurugram and Sohna has observed that property prices in these areas have seen significant appreciation. He gave as evidence projects by Godrej and Central Park builders which saw their rates per square yard jump up from Rs 8000-Rs 9,000 two or three years prior.

The Logistics Industry

Logistics involves transporting materials, products, and services to their desired locations at their appropriate times. This may range from direct shipper deliveries directly to customers to complex third-party logistics (3PL) agreements that involve several layers of handling in third-party logistics (3PL) arrangements and brokered transactions. Growth in this sector has been propelled by three fundamental trends: global consumption, rising e-commerce sales volumes, and reconfiguring supply chains more quickly in response to changing consumer preferences.

Recently, demand for low-rise and independent floors has skyrocketed in Delhi-NCR real estate. These configurations offer the privacy and independence of a standalone home while taking advantage of all of the amenities of large apartment complexes or buildings; especially popular among first-time buyers who can select their own floor plan and furnishings while sharing amenities such as pools or gyms with others in a community setting.

Many builders in Delhi ensure their projects adhere to world-class infrastructure standards. Not only have these developers created future-ready homes, but their office spaces are in high demand by e-commerce and IT firms. Purchasing your own property in a rapidly developing neighborhood is a surefire way to increase investment value; rent is simply wasted money while an asset that you own will grow with age.

The Healthcare Sector

Delhi-NCR real estate remains attractive to investors despite the ongoing NBFC crisis and home loan rate hikes, due to strong buyer interest in new properties despite higher prices. Furthermore, developers have expanded their portfolios with the launch of numerous projects throughout 2023 – an upward trend expected to continue into 2024.

Healthcare has been one of the fastest-growing sectors in India, making a significant contribution to Delhi-NCR’s real estate boom. Hospitals, clinics and other healthcare facilities have become an increasing necessity due to an expanding middle class, rising incomes and better access to affordable medical care – prompting many developers to focus on building healthcare projects that cater specifically to market demand.

Delhi-NCR’s commercial real estate sector is also experiencing tremendous growth, thanks to an upsurge in start-ups and multinational companies requiring office and warehousing space. Leasing activity has surged due to this increasing demand; new launches and price appreciation have all seen increases as well as price appreciations.

The Education Sector

As India evolves towards becoming a knowledge-based economy, investing in education has become more crucial. This has been evidenced in real estate’s rise of educational facilities; yet this industry still faces many hurdles due to a lack of infrastructure and skilled workers.

Despite these obstacles, real estate markets have seen substantial expansion. Both home sales and value sales have hit record levels. Furthermore, government stimulus packages such as loan relief programs for housing finance companies and an initiative designed to assist developers clear outstanding loans have also proved beneficial to this sector.

Development in newer areas in Delhi is also driving this real estate boom, such as its outskirts which have seen rapid development due to their proximity to airport and key infrastructure – making these properties attractive to both end users and investors.

Real estate developments are seeing a surge in luxury residential developments, driven by an increase in working professionals seeking luxury living and amenities not typically found in traditional apartment blocks. Therefore, developers have responded by creating apartments featuring concierge services, spa services, multi-level parking garages and expansive green open spaces; providing residents a welcome respite from cramped individual houses or old apartment blocks found across many Indian cities.

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