As the festive season begins, the demand for residential and commercial properties, especially in the Delhi-NCR region, is expected to see a significant surge. Many people in India choose to invest in real estate during major festivals like Navratri and Diwali, viewing these occasions as particularly auspicious. This year, the trend is no different, with industry experts anticipating a notable rise in housing demand. Recent reports suggest the Delhi-NCR real estate market is already showing strong performance.
Developers Roll Out Festive Offers and New Launches
To capitalize on this festive fervor, developers are introducing a range of initiatives, including attractive offers, discounts, complimentary gifts, and special packages to entice homebuyers. Numerous new projects are expected to be launched, particularly in the Gurugram area, which is likely to propel the market to new heights. In the post-pandemic world, property prices have seen a significant increase, with many buyers now opting for larger, more luxurious homes. The festive season traditionally leads to a spike in property bookings, with several new developments on the horizon.
According to a recent report by Anarock, home prices in Delhi-NCR and Bengaluru have witnessed a 29% year-on-year increase during the July-September quarter. This surge in prices is attributed to strong demand, high input costs, and the increasing supply of luxury homes, setting a positive tone for the real estate market ahead of the festive season.
Gurugram to Lead the Way in Growth
Commenting on this trend, Santosh Agarwal, CFO and Executive Director of Alphacorp, noted, “As we approach the festive season, the surge in home prices, particularly in Delhi-NCR, reflects the robust demand and strong market fundamentals. The Anarock report highlighting a year-on-year price rise of 29% from July to September showcases the growing appetite for quality homes, with many buyers eager to take advantage of festive deals. Festivals, like Diwali, are a time when homebuyers feel confident making investments, and developers are well-prepared with attractive offers and new launches. Gurugram, in particular, is set to benefit from this momentum, driving both buyers’ interest and market growth. The outlook remains bright for the months ahead.”
Millennials Fueling Demand for Luxury Homes in Gurgaon
Pankaj Pal, Managing Director of Whiteland Corporation, pointed out a shift in buyer demographics, saying, “Millennials are driving a new wave of demand in Gurgaon’s luxury residential market, purchasing high-end properties much earlier in life than previous generations. This shift is fueled by factors such as rising disposable incomes, increased access to flexible financing, and a preference for modern, amenity-rich living spaces that offer both lifestyle and investment value. Gurgaon, with its rapidly evolving infrastructure and premium developments, has become a prime destination for millennial buyers seeking luxury homes. Recent data shows that nearly 45% of luxury homebuyers in the region are now under the age of 40, reflecting their desire for early financial security and upgraded living standards.”
Festivals Create Favorable Conditions for Real Estate Investments
Navaratri and other major festivals are traditionally seen as favorable periods for making substantial acquisitions, particularly in real estate, as homebuyers often associate this time with prosperity and good fortune.
Yashank Wason, Managing Director of Royal Green Realty, emphasized this trend, stating, “During festivals, developers often roll out special offers, discounts, and financing schemes, making it an attractive time for homebuyers to invest in property. Additionally, many new project launches are timed to coincide with the festive season, giving homebuyers a wider array of choices. Strategically, both buyers and sellers should focus on transparent transactions and plan well in advance. Buyers should be clear about their requirements, and sellers should emphasize value propositions that go beyond short-term discounts, ensuring lasting appeal and trust.”
Homebuyers Cautioned to Evaluate Long-Term Benefits
While the festive season presents lucrative deals for homebuyers, industry experts advise caution in assessing long-term value. “It’s important to conduct due diligence, compare options, and ensure that the discounts translate into genuine savings,” Wason added. For sellers, the surge in demand during festivals provides an opportunity to negotiate better prices, but they must remain aware of the competitive landscape, with multiple developers offering similar enticing deals.
Rising Prices Indicate Strong Market Recovery
Abhishek Trehan, Executive Director of Trehan Iris, also commented on the robust market conditions, saying, “As per the recent report by Anarock, housing prices in Delhi-NCR witnessed a surge of 29% from July to September, which is a testament to increased demand and rapid urbanization, further underscoring the attractiveness of real estate investments. Moreover, buyers are clearly adapting to changing preferences, prioritizing quality and spacious living spaces that align with their evolving needs. This trend signals a strong market recovery, and we are dedicated to providing innovative and sustainable developments that meet this growing demand, ensuring long-term value for our buyers and investors alike.”
Expansion of Infrastructure Driving Growth
As the festive season gains momentum, there is heightened anticipation for the real estate market to continue its upward trajectory, particularly in the Delhi-NCR region. Developers are rolling out exclusive offers and launching new projects to take full advantage of this favorable period. The ongoing expansion of infrastructure, coupled with prime locations and exceptional developments in areas such as Gurugram, Faridabad, Sonipat, Noida, and Delhi, is set to push the market to new levels. This creates significant opportunities for both investors and homebuyers, with the potential for long-term growth and high returns.
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