Delhi NCR emerged as the undisputed leader, accounting for 65% of all luxury sales across the top seven Indian cities. Within NCR, Gurugram dominated with a staggering 91% share of sales, cementing its position as India’s luxury housing hub.

Key Numbers — Luxury Housing in NCR

Source: JLL Research

Hotspots Driving the Boom

• Southern Peripheral Road (SPR): 39% of Gurugram’s luxury sales in H1 2025
• Dwarka Expressway + SPR: Together form 61% of Gurugram’s luxury market
• Golf Course Road: Stable demand, but limited fresh inventory in ₹5 crore+ bracket
• Since 2020, 22,000 luxury units launched in NCR, with 89% in Gurugram

The recent completion of Dwarka Expressway has driven price appreciation, pushing many premium projects into the luxury bracket. Infrastructure upgrades such as the upcoming Gurugram Metro line are expected to further boost demand.

Developer Sentiment & Buyer Trends

JLL notes that while NCR’s overall housing sales dipped 23% YoY across all ticket sizes, the luxury segment was resilient — now representing over a quarter (27%) of the total market, up from just 12% in 2023.

“Gurugram has firmly established itself as the epicentre of luxury real estate in India… The SPR and Dwarka Expressway corridors are now particular hotspots,”
— Manish Aggarwal, Senior MD (North & East), JLL

Developers are banking on festive season demand, tamed inflation, and rising disposable incomes to sustain the momentum.

Outlook
With strong infrastructure growth, employment opportunities, and an appetite for high-end living, Delhi NCR is set to maintain its lead in India’s luxury housing market in the near to mid-term.

Also Read: Luxury homes sales in Mumbai have risen 50% 

The post Luxury Housing Defies Slowdown: NCR Sales Up 9% in H1 2025, Gurugram Commands 91% Share appeared first on Square Feat India.

Developers Revive Flexible Payment Plans

Among the recent examples of this trend is a new payment plan introduced at Chandak Highscape City in Chembur (E), Mumbai. The Chandak Group has announced a scheme allowing buyers to secure a home with just a 5% initial payment, with the remaining balance payable upon terrace slab completion.

Located in Chembur, a rapidly developing hub known for its excellent connectivity and infrastructure, the project features 1, 2, and 3 BHK apartments along with over 45 amenities designed to enhance urban living. A spokesperson from Chandak Group highlighted the reasoning behind the scheme, stating, “At Chandak Group, we understand the aspirations of homebuyers and aim to make homeownership more accessible. This payment plan ensures minimal financial burden initially while allowing buyers to plan their investments smartly.”

A Growing Trend in the Real Estate Market

The revival of such payment schemes isn’t limited to a single project. Many developers across India are reintroducing flexible payment plans to encourage property purchases amid evolving economic conditions. Traditionally, buyers were expected to make substantial down payments and follow a construction-linked payment structure, which often led to financial strain. By allowing buyers to defer payments until the completion of key construction milestones, builders are making homeownership a more viable option.

Real estate analysts predict that more developers will adopt this approach in the coming months, especially in cities like Mumbai, Pune, Bengaluru, and Delhi-NCR, where high property prices often pose a challenge for buyers. The move aligns with the market’s demand for greater affordability and investment-friendly schemes.

Benefits for Homebuyers

The “Pay 5% Now, Rest on Completion” scheme offers multiple advantages:

• Reduced Initial Financial Burden – Homebuyers can secure a property with a minimal upfront payment, allowing them to plan their finances better.
• Increased Affordability – Buyers who may have been hesitant due to high initial costs can now enter the market.
• Lower Risk – Payments being tied to construction milestones provide reassurance that funds are being utilized as per progress.
• Better Investment Opportunities – Such schemes attract investors looking for lucrative returns without immediate financial commitment.

Future Outlook

With homebuyer sentiment improving and demand for housing steadily rising, developers are expected to continue offering such attractive payment plans. As economic uncertainties persist, initiatives like these provide a much-needed boost to the real estate sector, fostering confidence among buyers and stimulating property sales.

For those looking to invest in Mumbai’s premium real estate market, flexible payment plans like these could offer an accessible entry point. With increasing interest in buyer-friendly schemes, the return of “Pay 5% Now, Rest on Completion” offers signals a buyer-centric shift in India’s real estate landscape.

SFI Analysis

The resurgence of flexible payment schemes reflects the evolving dynamics of India’s real estate sector. While these plans help developers attract buyers in a competitive market, they also provide significant advantages for homebuyers, especially first-time investors and middle-income families. However, buyers must assess project credibility, developer track record, and financial planning before committing to such schemes.

Additionally, while deferred payment models make homeownership more accessible, they may pose risks for developers, particularly in times of economic downturn. Ensuring robust financial planning and regulatory safeguards will be essential to sustain the effectiveness of these offers. Overall, the trend signals a positive shift towards a more inclusive and buyer-friendly real estate market in India.

Also Read: Developer Offers 4 Flats in Festive Lucky Draw

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Regional Insights

Mumbai and Pune dominated the warehousing and logistics sector in H1 2024, collectively accounting for 63% of the total absorption. Mumbai’s share surged from 25% in H1 2023 to 41% in H1 2024, driven by heightened demand for grade-A warehouses in areas such as Bhiwandi, Panvel, Uran, Taloja, and Ambernath. In contrast, NCR’s share plummeted from 31% to just 6%, reflecting a significant drop in activity. Chennai, however, experienced a remarkable 191% increase in absorption, reaching 1.5 million square feet due to the low base effect from the previous year.

City-Wise Absorption Data

Sector-wise Absorption Trends

Third-party logistics (3PL) companies led the absorption with a 39% share in H1 2024, up from 26% in the previous year. The engineering & manufacturing sector also saw its share increase to 22% from 16%, while the automobile and auto components sector grew to 9% from 4%.

Investment Highlights

The warehousing and logistics sector attracted USD 1.6 billion in investments during H1 2024, representing 42% of the total institutional investments in real estate. This investment amount equals one-third of the total institutional investment received over the past four years and marks a 4.5-fold increase compared to H1 2023.

Key deals included:

• USD 1.5 billion investment by KKR and Abu Dhabi Investment Authority (ADIA) in Reliance Retail Ventures’ warehousing assets, accounting for 96% of the sector’s total investment.
• CapitaLand India Trust (CLINT) signed a forward purchase agreement with Casa Grande Group for three industrial facilities at OneHub Chennai, valued at approximately USD 32.3 million.
• Goa Investment Promotion and Facilitation Board (Goa-IPB) signed a MoU with TVS Industrial and Logistical Parks (TVS ILP) for developing a grade-A warehousing and logistics park in Verna Industrial Estate with an investment of USD 15.6 million.

Rental Trends

Weighted average rentals slightly declined by 3% to INR 21.6 per square foot per month in H1 2024. Bengaluru saw the highest rental decline of 8%, while Hyderabad experienced a 7% decrease. Conversely, Pune’s rentals surged by 30% to INR 27.1 per square foot per month, and Chennai saw a 22% increase.

Conclusion

The warehousing and logistics sector continues to show strong growth, with significant investments and notable shifts in regional and sectoral absorptions. Despite a decrease in overall absorption compared to the previous half-year, the sector remains dynamic with increased investment and evolving rental trends.

Also Read: Industrial & warehousing demand remains healthy with about 13 mn sq ft of leasing in H1 2024

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