APPD Market Report Article


August 26, 2022

Dr Samantak Das, Head of Research, India & Sri Lanka


INR 25.0


Demand stays strong, increasing significantly

  • Even with the launches in the high-end category decreasing, demand for high-end properties continued to grow and saw an increase of 15% on a q-o-q basis.
  • Gurgaon contributed 65% to the overall high-end sales, followed by Noida contributing 19% and Delhi contributing 15%. Branded properties were preferred as established developers have strong brand equity, good track records and better expertise.

New high-end residential supply come up in Delhi and Gurgaon

  • Gurgaon led the new launches, contributing 69% to the new supply with DLF Platinum residences at MG Road and Tulip Monsella at Golf Course Road.
  • Delhi added the remaining 31% with Godrej’s Connaught One and Trident Residences being launched in Central Delhi, along with TARC’s Tripundra at Main Bijwasan road.

Prices rise marginally in most submarkets

  • Prices in most submarkets have risen, due to the increasing costs of raw material.
  • Increased demand and lower inventory levels are key factors behind the increase in prices.

Outlook: Demand, backed by strong supply, is expected to grow further

  • Demand for high-end homes is expected to rise in the coming months with most established developers launching projects in this segment. Factors like the need for bigger homes, seeking improvement in lifestyle and increasing disposable income are anticipated to be major demand drivers for high-end homes. Prices in the high-end segment are expected to go up further with quality supply coming in.
  • Infrastructural developments will drive both sales as well as new launches. Millennials and first-time buyers are also expected to get into this segment with their growing need for better amenities and bigger homes, with long loan tenures and flexible payment plans aiding the home-buying process. Demand for this segment is expected to grow further, supported by substantial supply.

Note: Delhi Residential refers to Gurgaon's prime residential market.

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