Leading Developers Launch Luxury Residential in Delhi

Delhi will soon see a surge in supply of high-end residential units with leading developers. Tata and Godrej have lined up launches at Hailey Road and Shaheed Bhagat Singh Marg in Gole Market, both in Central Delhi near Connaught Place, while DLF will soon announce 2.1 million sq ft of the first phase of Midtown West, a premium residential complex on Shivaji Marg in West Delhi's Moti Nagar, which it will develop in a joint venture with Singapore sovereign fund GIC, industry insiders said. This is the first time that so many branded products will be coming to the market where supply has always been an issue." Such strong pipeline line of ultraluxury residential projects suggest there is a buyer but not enough supply," said Amit Goyal, CEO of India Sotheby's International Realty. DLF Midtown is "one of the largest integrated ecosystems of residential and commercial developments all in one place, in one of the most vibrant neighborhoods of NCR. Tata Realty is developing ultra-luxury residential apartments near Hailey Road in central Delhi with an investment of Rs 150 crore. It will have 40-42 7-star luxury apartments with average size of 2,000 sq ft with a total of about 100,000 sq ft of built-up area. "We are currently exploring the idea of having an internationally renowned designer or architect to design this, and possibly it will be a branded residence," said Tarun Mehrotra, business head - North & East India, at Tata Realty & Infrastructure. Recently, Godrej Properties entered into a joint venture with realty developer TDI Group to develop an ultra-luxury residential project on Shaheed Bhagat Singh Marg in Gole Market.