Delhi sees luxury housing boom as developers bet on high-rise gated communities
By Google News Category Property ·
New Delhi: Delhi's real estate market is back in focus, with state-run NBCC selling luxury flats in upmarket Chanakyapuri for more than double their reserve price. Homebuyers are also increasingly looking for gated communities within the national capital, without having to move to Noida or Gurugram.Several developers are preparing to launch projects in Delhi to tap this demand.
DLF, TARC, Unity Group, Kreeva and Raheja have already launched premium residential projects in the capital and are planning their next phases.Also Read: Kotak eyes ₹4,500 crore fundraise to deepen bets on India's real estate marketHistorically, Delhi has been predominantly a low-rise, plotted housing market, shaped by builder floors, individual homes and Delhi Development Authority developments.
While this has defined the city's character, it has also limited the supply of integrated, amenity-led luxury housing. Over the years, this gap has driven many Delhiites towards markets such as Gurugram and Noida for high-rise communities offering security, club facilities and modern infrastructure.
However, there has always been a strong underlying preference to remain within Delhi, given its deep cultural, social and emotional connect. What we are now seeing is a natural evolution of the market, said Aakash Ohri, managing director of DLF Home Developers, a unit of DLF.
Select luxury and ultra-luxury high-rise developments by reputed developers are finally coming up within Delhi, addressing a long-standing demand-supply mismatch, he said.US-based real estate firm Hines, along with Conscient Infrastructure and HDFC Capital, is redeveloping the Birla Cotton Mills site in Kamla Nagar into a high-end mixed-use project.
Delhi is witnessing renewed interest in premium residential developments, driven by homebuyers who increasingly seek spacious homes, well-planned communities and a better quality of life within the city.
The growing demand for gated communities reflects a shift in buyer preferences, with greater emphasis on privacy, security, modern amenities and integrated living experiences, said Conscient chief executive Rishi Raj.Also Read: Kalpataru confident of achieving ₹6,500 crore pre-sales target in FY27, says CFORedevelopment of established land parcels, particularly in well-connected locations, presents an opportunity to
create contemporary residential spaces while unlocking potential of existing urban areas.
The response to NBCC's recent auction reinforces the growing demand for premium residential developments within Delhi.
For years, buyers seeking the space, privacy and lifestyle of modern gated communities have had to look towards Gurugram or Noida, said Ankush Kaul, chief business officer at real estate developer TARC.Recently, Poddar Keventer Capital Advisors, an investment management platform backed by the Kolkata-headquartered Saroj Poddar Group (erstwhile Adventz Group) and Keventer Group, launched a ₹400 crore Category-II AIF
to invest in projects undertaken by the joint venture in Kolkata and Delhi.
Originally published by Google News Category Property
