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Festive season to bring record housing launches in Delhi-NCR

2023-08-22

It is anticipated that there will be a significant surge in the number of housing-unit launches in Delhi-NCR during the upcoming festive season due to several developers having acquired land over the past six months. They have done so with the intention of meeting the growing demand for homes.

Developers like DLF, Godrej, L&T, TARC, Signature Global, and County Group have all formulated plans for launches in the latter half of the year.

As per Cushman & Wakefield, the number of residential launches during the first half of this year has already more than doubled compared to the previous year.

Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF, stated, "There has been a consistent growth in sales across major Indian cities. However, NCR experienced a substantial surge in demand within the residential segment. Over the past three years, Gurugram's housing market has emerged as an attractive real estate investment hub, with annual price growth reaching unprecedented levels."

DLF has strategised for residential launches in Gurgaon, Mumbai, and Chennai.

In the initial half of the year, a total of 10,963 residential units were introduced in Delhi-NCR, which is nearly equivalent to the count of units launched in 2019, amounting to 11,643.

Amar Sarin, CEO of TARC, remarked, "The prices of units unveiled in the last six months have witnessed an increase of up to 50%. This has motivated developers to schedule more launches, given the demand for high-quality development."

TARC has outlined residential projects in Central Delhi and Gurgaon for this year. Their project, TARC Tripundra, has encountered a price increase of up to 50% and over 70% of the units have been sold in under a year.

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