January 2024

The residential property market saw a surge in sales in top 8 cities despite obstacles created by the pandemic. The Q1 of the new year witnessed a hike of 9% from a year ago while other leading markets witnessed a 1-7% rise in the capital value of residential properties as demand kept increasing, as per Knight Frank Report. The supply of residential property market is equivalent to demand as new launches were 78171 units. Mumbai recorded 21548 units in sales while Delhi-NCR saw growth in sales volume of 123%.

Rising demand coupled with soaring construction costs have led to realty prices going up as developers seek to protect their margins. As per Knight Frank India’s report, India’s leading real estate markets have witnessed hike in average capital values of residential projects. During the end of quarter in March, all the cities posted YOY growth of 7% in per square feet prices. Bengaluru registered the maximum growth in prices of 7% followed by Pune and Mumbai of 5% and 4% respectively. Hyderabad and Chennai witnessed lowest price rise of 1%. One of the prime reasons of this price hike is rise in cost of prime raw materials from 20 to 70% in the last year.

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Ashok Jaunapuria the MD & CEO of SS Group informed ET that the group is planning to invest 1950 crores for developing 4.15 million Sq.ft of residential projects including low-rise floors and commercial space in 2022-23. The group has delivered 17 million Sq.ft of area across 23 projects in Gurgaon till now and expects a growth of 30% in the revenue in the year 2021-22.

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Gurugram is becoming a bell weather of luxury living due to continuous rise in living standards of people. The high rise surge for the luxury properties in Gurgaon is become of individuals Gurugram has now emerged from the slumber of last few years and is now ready for a poised comeback in the realestate sector especially in the luxury property sector. With facilities of complete automation, self-sufficient sustainable home 24*7 power backup and 7 tier safety and security.

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Dwarka Expressway (also known as Northern Peripheral Road) is one of the most promising realty hotspots in entire Delhi-NCR. The 28-km long Dwarka Expressway starts from Shiv Murti in Delhi on NH-8 passes through UER-II up to Barthal Chowk then it will take left turn and go straight up to Kherki Daula in Gurugram and it culminates on NH-8, around one km before Kherki Daula toll plaza at SPR, CPR junction.

Gurgaon continues to be on a growth trajectory and have multiple zones that continue to develop at a fast pace, trans-form the city drastically. Across formats and price points, be it high-rise or low rise, luxury or affordable, the city offers something that suits everyone’s need. Golf Couse Extension is one area that has continues to grow leap and bounds and is offering investment options across the segments.

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