Delhi-NCR has become one of the most preferred locations in north India due to its proximity to the national capital, robust infrastructure, employment opportunities, and stringent law and order situation. These have also been reflected in the recent CREDAI and Colliers Liases Foras report that highlights a 46 percent increase in the region due to positive investor sentiments.
According to the report, Delhi NCR witnesses a 14 percent year-on-year (YoY) rise in housing prices in Q2 2023. The newly developed Dwarka Expressway and the upcoming 50 km six-lane highway are likely to boost residential demand in Delhi, Gurugram, Ghaziabad, and Noida. With a 7 percent dip YoY, unsold units in the region continue to drop for three quarters.
Factors behind rise in real estate segment
Several factors have made the region a top choice for investors. Besides witnessing investments from mid-career professionals, HNIs, millennials, and Gen-Z, this region has also captured the attention of the NRIs, who are looking for a retirement home or a house for senior citizens and their extended family.
Delhi-NCR not only meets the basic and critical expectations like affordability and connectivity but also many things to offer to a diverse range of investors and homebuyers. From affordable, semi-luxury to luxury housing units, homebuyers can pick their aspirational houses based on their budget and expectations. The region is also reflecting modern India’s growing trend of creating integrated townships that support and nurture a healthy-work life balance, topline amenities like clubhouses, recreational centres, gyms, kids play areas, and sustainable homes.
Some of the factors that have driven the growth of housing segment in Delhi-NCR are shared below.
Robust development and infrastructure
In the last five years, Delhi-NCR has witnessed a robust growth in urban infrastructure, such as highways, roads, increased public transport investments via metro connectivity, and completion of projects within deadlines.
Strategic location
Besides proximity to the national capital, Delhi-NCR is close to important commercial, business, and industrial hubs, diplomatic missions, MNC offices, and strategic landmarks like IGI airport, important national highways that make connectivity a crucial factor for daily commuters, especially for those who are employed in nearby cities. Therefore, it makes inter-city and intra-city commute smoother and improves the quality of life.
This strategic location also draws India’s best talent from different parts of the country creating a more vibrant and open culture.
Best educational and medical facilities
Some of India’s public and private premier medical and educational institutions like Sir Ganga Ram Hospital, AIIMS, Apollo Hospital, Fortis, Delhi University, top schools, colleges, and universities are in this region, making it a preferred choice for homebuyers.
Delhi NCR has emerged as a hotspot for making investments as this segment is expected to grow with value appreciation in future.
For investors and homebuyers, Delhi-NCR is a top location. If you are looking to buy a house or interested in investing in Delhi NCR, we can help you do that.
(The author is COO at Wave City.)
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CJ Singh is the COO of Wave City. With an MBA from the University Business School, Punjab, he has held significant positions in companies such as Berger Paints, Shalimar Paints and SABMiller in the past. He stands out for his expert marketing and managerial experience in the real estate domain.
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