Luxury housing records 27% rise in sales in Delhi-NCR

22 Jul 2024 CW Team

The first half of 2024 saw a notable surge in the luxury housing market in the Delhi-NCR region, driven by affluent buyers, enhanced amenities, and significant infrastructure projects, according to CBRE. The first half of 2024 brought positive news for the real estate sector in the Delhi-NCR region, as the luxury housing segment experienced significant momentum. Housing units priced at Rs 4 crore and above recorded a 27% growth in the region, according to CBRE South Asia?s ?India Market Monitor Q2 2024? report. The report shows that total sales of luxury units between January and June stood at 8,500, compared to 6,700 during the same period the previous year. Delhi-NCR led the market, followed by Mumbai with 2,500 units sold and Hyderabad with 1,300 units. Pune saw sales of 1,100 luxury units, marking a 450% year-on-year growth. The overall housing market in India recorded a total of 156,000 units sold in the January-June period. Sales of luxury housing in top cities registered a 40.1% year-on-year growth in the April-June quarter. Delhi-NCR emerged as a prominent market in the June quarter, followed by Mumbai and Hyderabad, with Kolkata also seeing a notable two-fold increase in luxury residential sales. Collectively, this quarter witnessed total sales of 4,410 luxury housing units compared to 3,150 units in the same quarter last year. The surge in demand for luxury housing is driven by affluent buyers seeking enhanced amenities and more spacious living areas, said the CBRE report. The aspirational class and NRI investments are also contributing to the surge in demand. Anshuman Magazine, Chairman & CEO- India, South-East Asia, Middle East & Africa, CBRE, highlighted that mega infrastructure projects across the country, including transportation networks, highways, airports, and metro systems, are set to bolster real estate growth. "These developments are likely to unlock new markets, establish satellite cities, and stimulate growth in peripheral areas, making luxury housing an attractive investment," he said. (Source: Business Standard)

The first half of 2024 saw a notable surge in the luxury housing market in the Delhi-NCR region, driven by affluent buyers, enhanced amenities, and significant infrastructure projects, according to CBRE. The first half of 2024 brought positive news for the real estate sector in the Delhi-NCR region, as the luxury housing segment experienced significant momentum. Housing units priced at Rs 4 crore and above recorded a 27% growth in the region, according to CBRE South Asia?s ?India Market Monitor Q2 2024? report. The report shows that total sales of luxury units between January and June stood at 8,500, compared to 6,700 during the same period the previous year. Delhi-NCR led the market, followed by Mumbai with 2,500 units sold and Hyderabad with 1,300 units. Pune saw sales of 1,100 luxury units, marking a 450% year-on-year growth. The overall housing market in India recorded a total of 156,000 units sold in the January-June period. Sales of luxury housing in top cities registered a 40.1% year-on-year growth in the April-June quarter. Delhi-NCR emerged as a prominent market in the June quarter, followed by Mumbai and Hyderabad, with Kolkata also seeing a notable two-fold increase in luxury residential sales. Collectively, this quarter witnessed total sales of 4,410 luxury housing units compared to 3,150 units in the same quarter last year. The surge in demand for luxury housing is driven by affluent buyers seeking enhanced amenities and more spacious living areas, said the CBRE report. The aspirational class and NRI investments are also contributing to the surge in demand. Anshuman Magazine, Chairman & CEO- India, South-East Asia, Middle East & Africa, CBRE, highlighted that mega infrastructure projects across the country, including transportation networks, highways, airports, and metro systems, are set to bolster real estate growth. These developments are likely to unlock new markets, establish satellite cities, and stimulate growth in peripheral areas, making luxury housing an attractive investment, he said. (Source: Business Standard)

Real Estate

14 Oct 2025

GHMC Launches Drive To Boost Property Tax Revenue

The Greater Hyderabad Municipal Corporation (GHMC) has launched a special campaign to enhance property tax revenue from non-residential and commercial properties by reassessing their total built-up area. Any discrepancies identified during inspections will trigger immediate revision of both property tax and trade licence fees, officials said. The initial phase of the drive focuses on shopping malls across Hyderabad, with over 300 such establishments identified in the twin cities. After the mall inspections, GHMC will extend the verification process to other non-residential properties, includi..

Infrastructure Urban

14 Oct 2025

Cholamandalam To Raise Rs 10 Billion Via NCD Issue

Cholamandalam Investment and Finance Company has invited bids to raise up to Rs 10 billion through secured non-convertible debentures (NCDs) maturing on 14 October 2030, offering a coupon rate of 7.58 per cent. The NCD issue, announced on Monday, comes at a time when corporate bond activity — which saw strong momentum in the first quarter of FY26 — has slowed during the second quarter owing to rising borrowing costs. However, market analysts anticipate a rebound in the coming months as easing bond yields could reignite investor appetite for corporate debt instruments. The company’s fu..

Infrastructure Urban

14 Oct 2025

Maharashtra Approves Cluster Redevelopment For Mumbai Slums

The Maharashtra cabinet has approved a cluster redevelopment scheme for Mumbai’s slums, paving the way for large-scale urban renewal and improved living standards across the city’s informal settlements. The decision, taken on 7 October, seeks to convert slum clusters spread over more than 50 acres into integrated housing projects equipped with modern infrastructure and better amenities. To be implemented by the Slum Rehabilitation Authority (SRA), the initiative aims to accelerate redevelopment, attract private investment, and stimulate construction activity. According to a statement from..