Delhi-NCR expected to witnesses a rise in demand of luxury housing in FY 2022

From 46,910 units in 2019 to 23,220 units in 2020, the housing sales had declined in the wake of the covid-19 pandemic

Luxury Housing

A breath of fresh air is sweeping through the luxury segment of Delhi-NCR with the developers selling 929 units at over Rs 1.5 crore during the last year. The luxury residential market in the capital is finally back on track after a sluggish period in the last year or so. 

Looking for world-class amenities and property management, among other things, the NRIs and HNIs are mostly driving the demand. According to the industry experts, the buyers are set to finalize their transaction in the first half of 2021 after a thorough research carried out during the last few months. 

As a result, the next financial year is set to witness more sales and queries. From 46,910 units in 2019 to 23,220 units in 2020, the housing sales had declined in the wake of the covid-19 pandemic. However, the luxury housing sales had just dropped by 25 per cent in the same period, which is better than the estimated figure. The sales in the last quarter have been highly encouraging as well.

The availability of the covid-19 vaccine is likely to spur the investment sentiment of the people. The buyers and investors are exploring the market and many new projects in the locations such as Gurgaon, Noida expressway and Central Noida are attracting the customers. The developers are also offering discounts on properties knowing that the focus is shifting in the last quarter of the financial year.

The luxury segment at this juncture is expected to perform well and the housing market as a whole is also projected to do well. With a large population of millennials also keeping a close eye on the development, the property deals are only going to surge from here on.     

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