The growth in the residential real estate sector can be gauged from the fact that quarterly housing sales in Q1 2022 have hit an all-time high since 2015, as per Anarock data. This is a 71% yearly rise against around 58,290 units sold in the same quarter a year ago. New launches have also witnessed a tremendous growth of 43% from 62,130 units in Q1 2021 to over 89,150 units in Q1 2022.
Prominent real estate markets of north India like Delhi-NCR and others have undergone a massive infrastructure development in the recent years. Development of Special Economic Zones (SEZs), Logistics Park, rapid rail and industrial corridors like Delhi Mumbai Industrial corridor (DMIC), rise of start-ups and many manufacturing and global companies setting their bases here have taken the real estate value to stratospheric heights. These areas now boast of excellent connectivity with many international airports, railroads, expressways like Delhi-Mumbai expressway, metro and well-developed and linked intercity connectivity. These developments have opened new channels of investment here, and have transformed region into a high quality and rewarding investment destination.
Apart from being high-value in terms of economic significance, these location perfectly match global benchmarks to offer an immersive lifestyle. The HNIs, UHNIs, NRIs, expats, millennials and others are well-versed with the latest and global lifestyle trends, and are attracted to these cities for quality living. Today, the presence of ultra-luxe properties in gated societies or high rises with high-end facilities are making it possible for them to lead an opulent lifestyle apart from making a safe investment bet.
The region offers well-developed social infrastructure to support modern living and satiate the needs of the modern residents. Presence of renowned educational institutions, leading and world-class medical facilities, prominent malls, shopping centres, business districts, restaurants, cinema halls and others cater to the needs of the people residing here. It has been observed that real estate destinations with the presence of these services remain in high demand. As the lifestyle patterns are shifting rapidly in metros, the demand for properties with presence of vibrant social infrastructure will accelerate and it will result in a positive impact on the appreciation value as well.
With such growth prospects, the real estate markets in north India are set to register a remarkable performance in the coming quarters. As the economic activities gain momentum, investments will flow in, the real estate sector will gain more acceleration, and will ultimately benefit all stakeholders, mainly the investors.