Ambience Group Promoter Discusses Factors Fueling Delhi NCR's Real Estate Surge
In recent years, Delhi and the National Capital Region (NCR) have become hotspots for real estate growth, drawing in both investors and developers. This boom is driven by several factors, including strong economic growth, improved infrastructure, and supportive government policies. According to the Ambience Group Promoter, "The rise in prices is mainly due to a high demand for housing, especially in the mid-range and luxury segments, as shown by various industry reports."
Delhi NCR's real estate market is closely tied to its economic strength. The area is a center for many industries like information technology, manufacturing, and services. This diverse and active economy has increased the need for both commercial and residential spaces, as businesses look for good places to expand. This year's Economic Survey, presented by Delhi's Finance Minister Atishi, highlighted a significant 22 percent increase in per capita income, indicating the fastest growth in the Gross State Domestic Product (GSDP). The Ambience Group Promoter notes, "According to the Economic Survey of Delhi 2023-24, the per capita income rose from Rs 3,76,217 in 2021-22 to Rs 4,61,910 in 2023-24. Delhi’s Finance Minister pointed out that this is 2.5 times higher than the national average, showing a 22 percent increase over two years." The Ambience Group Promoter emphasizes that this economic growth is a key factor driving the real estate market's rise.