Luxury Property Market of Delhi-NCR Skyrockets! 34% of Homes costs over Rs. 10 Crore

In the vibrant landscape of Delhi-NCR, the luxury real estate market is experiencing a remarkable renaissance, capturing the attention of affluent buyers and investors alike. With over 34% of homes currently listed for sale priced at Rs. 10 crore or more, the region has firmly established itself as a premier destination for those seeking opulent living spaces that cater to their refined tastes and aspirations.

The surge in luxury property sales—an impressive 72% increase from January to September 2024—reflects a profound shift in lifestyle preferences among the wealthy. A significant catalyst for this growth is the ongoing development of the Dwarka Expressway, which has transformed connectivity between Gurugram and Delhi.

This vital infrastructure project not only enhances accessibility to key areas but also elevates the desirability of surrounding neighborhoods. As the expressway continues to take shape, it has sparked interest in high-end residential projects, drawing homebuyers eager for both comfort and convenience.

Parvinder Singh, CEO, Trident Realty - As a premium residential developer in Gurugram, we are observing an extraordinary rise in the demand for luxury homes, particularly along the Dwarka Expressway. This prime location has become a beacon for discerning buyers who seek not only exquisite living spaces but also seamless connectivity to major commercial hubs. This interest in luxury real estate here reflects a significant shift in buyer preferences, as individuals increasingly desire residences that embody both sophistication and convenience. As we continue to innovate and develop projects that meet these evolving aspirations, it is evident that Gurugram is set to remain at the forefront of the luxury housing market, offering an unparalleled lifestyle experience for today’s elite."

Delhi-NCR has also overtaken Mumbai and Hyderabad to become the top-selling housing market in 2024, driven by a 66 per cent growth in sales value in Gurugram alone. As a result, Delhi-NCR has crossed the Rs. 1 lakh crore sales value mark, as per the report.

The appeal of luxury living in Delhi-NCR is further amplified by a growing influx of Non-Resident Indian (NRI) investments. These buyers are increasingly looking to invest in properties that offer not just lavish amenities but also a sense of community and security. The allure of spacious homes equipped with modern conveniences resonates deeply with this demographic, as they seek residences that reflect their lifestyle choices.

Varun Sharma, Founder & Managing Director, MVN Infrastructure - As a luxury real estate developer in Gurugram, we are witnessing an unprecedented demand for high-end homes, with over 34% of listings priced at Rs. 10 crore or more. This surge reflects a significant shift in buyer preferences, as affluent individuals seek spacious residences that offer both luxury and comfort. The ongoing development of infrastructure, particularly the Dwarka Expressway, has greatly enhanced connectivity and elevated the desirability of our projects. Furthermore, the influx of Non-Resident Indian investments underscores the confidence in Delhi-NCR's luxury market. We are committed to meeting this growing demand by creating exceptional living spaces that cater to the sophisticated tastes of our discerning clientele.

Moreover, the region’s unique position within India’s economic landscape plays a crucial role in its real estate boom. With a thriving business environment and proximity to major commercial hubs, Delhi-NCR attracts individuals who desire not only a home but also a lifestyle that aligns with their professional ambitions. This synergy between work and living spaces makes the region particularly appealing to high-net-worth individuals.

Robin Mangla, President, M3M India said, the growing prominence of luxury homes in Delhi-NCR, with 34% of listings priced above Rs. 10 crore, highlights the region’s transformation into a premier high-end real estate destination. This surge is driven by increasing demand from HNIs, NRIs, and investors seeking exclusivity, space, and premium amenities. The evolving buyer mindset favors not just opulence but also well-connected, future-ready developments. Gurugram continues to lead the luxury segment with its high-end residential corridors, while Noida’s rapid commercial growth and infrastructure advancements are making it a strong contender in the premium housing market.

As Delhi-NCR continues to evolve, it stands at the forefront of India's luxury property sector. The combination of strategic infrastructure developments like the Dwarka Expressway and expanding population of affluent buyers creates an environment ripe for growth. For those seeking an elevated lifestyle, Delhi-NCR is not merely a place to reside; it represents an opportunity to embrace sophistication and modernity in one of India's most dynamic urban landscapes.