The Reasons Why Real Estate Developers Launching Luxury Projects In Delhi-NCR

In Delhi-NCR, a flurry of luxury real estate projects have been created by numerous developers and local builders. The main cause of this is the high offtake and demand for refurbishing properties in the luxury class.

The publicly traded real estate firm is remains upbeat about the Indian home market and believes that strong sales momentum will persist due to the nation’s increasing urbanization, increased affordability, and aspirational needs.

The company’s annual report for the Financial Year 2023 recognized a resurgence in the demand for luxury homes, which has increased by almost double in the previous five years. Sales bookings of Rs 8,000 crore came from a single luxury real estate project dubbed “The Arbour,” which was introduced in Gurugram during the March quarter.

Since the launch, there have been a series of high-end real estate launches in Gurgaon and Noida that have been priced beyond Rs 10,000 per square foot, therefore creating a pattern for the Delhi-NCR real estate market.

The real estate firm Godrej Properties announced last week that it was the top bidder and had won the e-auction launched by the Haryana Shehri Vikas Pradhikaran (HSVP) in order to develop two group home sites.

The Golf Course Road micro-market, which is well-known for its upscale residential and commercial buildings and is a desired area for real estate development, includes these two eight-acre land parcels.

The 201 opulent apartments by Max Estates, the real estate arm of Max Ventures and Industries Ltd., were recently unveiled in Noida. Max Estates plans to start construction on its first opulent housing project by the third quarter of 2023 and complete it in 48 to 60 months.

These condos cost Rs 18,000 per square foot. According to the company’s filing, pre-formal launch sales for the project, which is registered with the Uttar Pradesh Real Estate Regulatory Authority, exceeded Rs 1,800 crore.

Sector 128 of Noida is the location of the Estate 128 project, which would span 10 acres. There is a demand for luxury housing products in Noida, and that is evident from our success in both segments, residential and commercial, with Project 128 and Max Towers.

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