More and more people in India is moving towards luxury, either it may be the lifestyle or the standard of living. when it comes to standard of living and lifestyle home in which the person is living, matter the most. Premium Housing demand in India is increasing every day. Similar is the case with Capital city Delhi. With the improvement in the new housing supply, demand for premium housing in Delhi is increasing. This is the reason why developers in Delhi launching world-class projects to meet the demand.
GROWTH IN PREMIUM HOUSING MARKET IN DELHI
The real estate market across the country is facing downfall because of the overall economy in the country. High prices and interest rates are lowering the demand in the real estate sector. But, the luxury segment and the premium housing has somehow survived the downturn. In this lower overall economy in the country premium segment of the real estate market and the demand for premium housing in Delhi, instead of the downturn, showing a steady growth.
Real estate market has been globally affected due to the ups and down the global economy. Because of the strong fundamentals of the economy here, luxury segment of the real estate market has retained its position. In fact, metropolitan cities like Mumbai, Delhi, and Bangalore is showing a steady increase in the revenue. There is an increase in the luxury housing market annual revenue in Delhi by 25-30%. During the past few years, property prices of posh areas like Shantiniketan have gone up by 80%.
Due to the limited availability of properties in the prime areas of the main cities premium housing project in prime locality giving good returns even though the market is not that good.