Your search results

Luxury Housing Demand Doubled in 5 Years: Reveals DLF

Posted by Pal on July 20, 2023
0

Demand for luxury housing in India surges amid pandemic: DLF

The demand for premium and luxury housing in India has doubled over the past five years. According to the country’s largest real estate developer DLF. The company attributed this trend to the heightened consumer confidence in reputed brands. The improved financial positions of the buyers, and the ability to deliver high-quality, secure, and sustainable ecosystems.

In its fiscal year 2022-23 annual report, DLF said that the housing sector had witnessed a steady rise. It is also seen in the market share of reputable and more prominent players. Meanwhile, the number of developers across India has reduced by more than 50% in the last few years. The company also said that the shift to a healthy lifestyle, the need for world-class amenities. The desire for a luxurious lifestyle, and future security have increased the value of luxury housing.

This trend is primarily influenced by heightened consumer confidence in these brands. Additional factors such as substantial improvements in their financial positions. It is also their ability to deliver high-quality, secure, and sustainable ecosystems over the years. As per DLF chairman Rajiv Singh said in the company’s annual report.

DLF reported a net profit of Rs 580 crore in Q4 FY23, marking a 30% year-on-year increase. Attributing to its robust residential business performance. The company achieved net sales bookings worth Rs 8,458 crore, reflecting an impressive year-on-year growth of 210%. Furthermore, DLF’s cumulative new sales for the fiscal year reached a record-breaking Rs 15,058 crore. Which is more than doubling the previous year’s sales figures.

“The housing sector continues to experience strong demand driven by key factors. The outlook for housing demand remains positive, with sustained momentum expected due to factors. Such as urbanisation, improved affordability, favourable consumer sentiments, and increasing aspirational needs,” Singh said.

DLF’s residential business concluded FY22 with new sales bookings of Rs 7,273 crore. In marking a year-on-year growth of 136% for the fiscal year ended in March. The company focuses on scaling up its offerings and developing margin-accretive products, leading to higher gross margins. The pipeline is well diversified across locations, including the core markets of Gurugram, Delhi NCR. The other key markets of Chennai, Chandigarh Tri-City, and Goa.

Also read Land Rush for Homes as India’s housing Soars

According to Anarock, a real estate consultancy firm, the luxury segment accounted for 12% of overall sales in Q1 2022. Additionally it is up from 7% in Q1 2019. The firm also said that the growing interest of HNIs and NRIs. It had been the most significant demand driver in India’s luxury housing market.

India’s luxury real estate sector has climbed the ladder to become an investor’s favourite. The products in this niche segment are not just limited to providing security and high returns to well-off customers. Still, they successfully deliver the promise of luxury, comfort, wellness, and opulence.

Leave a Reply

Your email address will not be published.

  • Change Currency

  • Change Measurement

  • Advanced Search

    ₹ 0 to ₹ 56,00,000

    More Search Options
  • Our Listings

Compare Listings