This is the city of rich people in NCR, 45 out of 100 people are buying luxury houses, thousands of flats sold in 6 months

If you are asked which city in Delhi-NCR is for the rich, what will you answer? You might start thinking, but a recent report by Anarock has revealed it. For connectivity, this city is Gurugram, which is connected to Indian Railways, Rapid Metro, Delhi Metro, and many major expressways and highways.

Gurugram has once again emerged as the star performer in the luxury real estate market in the National Capital Region (NCR). According to the latest report by Anarock, the luxury segment witnessed a staggering 45 per cent share of sales of total flats or homes in NCR during the first half of 2024, up from just 3% in 2019, five years ago. While Gurugram has emerged as the centre of this luxury housing boom, accounting for nearly 60% of luxury sales in NCR.

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While affordable housing continues to be a significant segment in Noida and Greater Noida, the overall trend is tilted towards high-end properties. Gurugram has become the luxury housing capital of NCR, with a 59% share in the luxury segment.

Luxury homes will be the first choice of people in 2024
On the surge in premium housing sales in 2024, Ravi Agarwal, Co-Founder and Managing Director, Signature Global (India) Limited, said, ‘According to Anarock’s latest report, the premium housing market in NCR has boomed in 2024. Gurgaon has been at the forefront of this change, capturing a significant share of real estate sales in the first half of the year. This growth in premium housing sales reflects the growing trend in favour of premium properties among homebuyers. Factors such as high demand, excellent amenities and modern infrastructure contribute to Gurgaon’s leadership in this market. As a prominent business and technology hub, Gurgaon has consolidated its position as the top choice for premium housing. This trend is expected to grow in the coming months.’

More than 17 thousand houses were sold in 6 months
Talking about the city of Gurugram, among all the cities of NCR in recent years, Gurugram has been the most active real estate market. The Millennium City (Gurugram) saw the sale of around 17,570 units across various budget segments in the first half of 2024. Of these, 59% (around 10,365 units) were luxury homes, followed by 27% (around 4,710 units) in the affordable segment. In 2019, around 13,245 units were sold in Gurugram, of which 43% or around 5,740 units were affordable housing, while the sales share of luxury homes was just 4% or around 470 units.

There will be more bounce now
Sharing his views, Pankaj Pal, Managing Director, Whiteland Corporation said, ‘Luxury properties accounting for 59% of total sales in Gurgaon in the first half of 2024 is evidence of a definite shift in dynamics. Anarock’s report is proof of this. This boom in Gurgaon’s luxury housing market is underlined by the region’s attraction related to upscale living. Gurgaon has outpaced other locations in the NCR luxury real estate market due to its state-of-the-art infrastructure and growing preferences for a sophisticated lifestyle. These factors drive the demand for high-end luxury properties.’

At the same time, Santosh Agarwal, CFO and Executive Director, AlphaCorp, said, ‘Recent data from Anarock shows that this surge in demand for high-end properties in Gurugram reflects the growing aspiration for premium living spaces. We see this trend to continue, driven by rising disposable income and a desire for top-notch amenities. The future of luxury real estate in Delhi-NCR looks promising. Moreover, integrating smart home technologies and eco-friendly practices will further enhance the appeal of luxury housing, making them a preferred choice for discerning buyers.’

For which reasons Gurugram city is ahead in NCR

Gurugram city has no match in terms of connectivity in NCR. NH-8 (Delhi-Gurugram-Jaipur Highway) which provides connectivity from Gurugram to Delhi and Gurugram to Jaipur. Dwarka Expressway, which is providing a better alternative to reduce the traffic load of NH-8 and provides connectivity to Gurugram city to Delhi via Delhi IGI Airport. Sohna Elevated Road, which runs from Rajiv Chowk in Gurugram to Sohna and Delhi-Mumbai-Industrial-Corridor, which provides connectivity to Mumbai via Delhi-Gurugram-Sohna.

Talking about the metro, this year the foundation stone was laid for the expansion of the metro from Gurugram Millennium City Center to Cyber ​​City, which will give a different impetus to the real estate of Gurugram in the coming time. This year, redevelopment work is also being done to provide world-class facilities to the Gurugram railway station.

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Tags: Gurgaon S07p09, Property