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A 900-square-yard bungalow located in Delhi's Sundar Nagar recently sold for Rs 96 crore. The deal took place in one of the most expensive residential areas of the national capital, where the demand for properties is constantly increasing. Sundar Nagar is home to top lawyers, judges, bureaucrats, and businessmen, making it even more attractive.
Real estate boom
CBRE, a leading real estate consultant, played a key role in the sale of the bungalow. However, the sellers and CBRE did not comment on the deal. However, it is clear that the demand for luxury properties in Delhi is increasing rapidly.
Increase in sales of luxury homes
According to a recent report by CBRE, sales of luxury homes priced at Rs 4 crore and above have increased by 38 percent between January and September 2024. A total of 12,630 luxury units were sold during this period, as against 9,165 at the same time last year.
The highest number of 5,855 luxury units were sold in the Delhi-NCR region, which is much higher than last year. This shows that the property market in Delhi is stabilizing and growing.
future prospects
CBRE CEO Anshuman Magazine said that demand will increase in the high-end and premium segments. He also said that traditional mid-range markets like Noida, Bangalore, Pune, and Chennai are also now getting attracted to luxury properties.
The Indian real estate market is taking a new turn. The growth in the luxury segment is not only benefiting investors, but it can also improve the country's economic condition.
It is worth noting that Sundar Nagar in Delhi is once again in the news for its expensive deals. This bungalow sold for Rs 96 crore shows how much the demand for luxury properties is increasing. This is a positive sign for the Indian real estate sector, which gives hope for further growth in the future.
