Delhi-NCR is expected to see a record number of housing-unit launches around the upcoming festive season as multiple developers acquired land in the past six months, seeking to cater to rising demand for homes.
According to Cushman & Wakefield, residential launches in the first half were already more than double of previous year. In the first half of the year, 10,963 residential units were launched in Delhi-NCR which is almost the number of units launched in 2019, which was 11,643.
The housing market of Delhi NCR records a massive 139% growth in H1-23 unit launches
Delhi NCR witnessed a total launch of 10,963 units over 4,579 unit launches in H1-22 and the luxury segment topped the chart, dominating a 40% share of the total launches in Delhi NCR. Around 78% of these luxury launches were from key markets of Gurugram.
“With the Indian economy showing more resilience, a fairly stable job market and increasing purchasing power, the new class of homebuyers are looking for more amenities, facilities, and luxuries in the properties they want to buy,” said Shalin Raina, Managing Director, Residential Services, Cushman & Wakefield.