‘Infra Projects, Urban Renewal Initiatives To Push Real Estate Demand In 2025 In Delhi-NCR’: HCBS Chairman Bhupinder Singh

Last Updated:January 11, 2025, 13:33 IST

In an interview with news18.com, Gurugram-based HCBS Developments Chairman Bhupinder Singh delves into the factors driving the surge in luxury housing, the role of infrastructure developments like the Dwarka Expressway, and the growing popularity of branded residences.

HCBS Developments Chairman Bhupinder Singh.

As India’s real estate market continues to evolve, 2024 has emerged as a year of impressive growth, especially in the luxury housing segment. Following a post-pandemic robust economic recovery and growing demand from high-net-worth individuals (HNIs), premium properties, branded residences, and exclusive apartments are becoming increasingly sought after. In an interview with news18.com, Gurugram-based real estate company HCBS Developments’ Chairman Bhupinder Singh delves into the factors driving the surge in luxury housing, the role of infrastructure developments like the Dwarka Expressway, and the growing popularity of branded residences among India’s affluent buyers. Edited excerpts:

The real estate sector in India has shown remarkable growth in 2024. What has been the performance of the sector this year, and what do you expect in 2025?

In 2024, the real estate sector in India has experienced a strong recovery, driven by economic growth, rising demand for both residential and commercial properties, and increased investments, especially in the luxury housing segment. Key markets like Delhi-NCR, Mumbai, and Bengaluru have witnessed a significant uptick in property prices, fuelled by infrastructure developments, improved connectivity, and growing investor confidence. The luxury segment has been particularly robust, with branded residences and upscale projects in high demand due to the growing affluence of buyers and a desire for exclusivity.

Looking ahead to 2025, I expect continued growth in the sector, particularly with the completion of major infrastructure projects and urban renewal initiatives. The demand for high-quality residential, commercial, and mixed-use developments is expected to remain strong, especially in emerging corridors and satellite towns. Sustainability and technology-driven projects will gain prominence as both developers and consumers place greater emphasis on eco-friendly and smart living solutions.

Additionally, international investments are expected to increase, driven by India’s stable economic trajectory and attractive returns on investment. 2025 will likely be a year of consolidation, with sustained price appreciation and a growing focus on innovative, customer-centric real estate offerings.

How are Delhi-NCR and Gurugram maintaining the supply of ultra-luxury homes amid rising demand?

Delhi-NCR and Gurugram are tackling the scarcity of ultra-luxury homes by focusing on the development of high-value residential projects that cater specifically to affluent buyers. Developers are prioritising unique designs, world-class amenities, and prime locations to meet the demand of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs). Despite the limited availability of land and high development costs, the demand for properties priced between Rs 10 crore and Rs 80 crore has spurred innovation in luxury housing. Factors such as capital appreciation, multi-generational wealth creation, and the prestige of owning exclusive properties are driving this demand.

How are developers in Gurugram adapting to the rising demand for premium apartments and penthouses?

Developers in Gurugram are responding to the growing demand for premium apartments and penthouses by rethinking urban luxury living. Rather than traditional bungalows, there is now a strong preference for modern, vertical living spaces that feature private elevators, expansive terraces, and advanced smart home technologies. These properties are designed with exclusivity in mind, offering top-tier amenities such as world-class fitness centres, concierge services, and secure, gated communities. The shift toward convenience, safety, and luxury facilities aligns with the evolving needs of buyers, positioning Gurugram as a leading destination for luxury real estate in the region.

With the massive price escalation along the Dwarka Expressway, what factors do you believe are driving this remarkable surge in the luxury real estate market, and how has the infrastructure development in the region contributed to its appeal?

The surge in property prices along the Dwarka Expressway can be attributed to strong economic fundamentals, enhanced infrastructure, and growing demand for high-end properties. Between 2019 and 2024, property prices in this region have risen by an impressive 101 per cent, a direct result of the area transforming into a premier luxury destination in Delhi-NCR.

The inauguration of the 19-km elevated section of the Dwarka Expressway, which connects areas like Dwarka in Delhi to Gurugram, has significantly improved connectivity to key locations such as Indira Gandhi International Airport and emerging economic hubs like DMIC. Future infrastructure projects like the metro extension and Haryana’s Transit-Oriented Development (TOD) policy will further enhance accessibility, boosting long-term growth. The increasing participation of NRIs, who view luxury properties as stable investments with high returns, has also played a role in driving this surge.

How are branded residences influencing the future of luxury living in India, and why are they becoming an increasingly popular choice for high-net-worth individuals?

Branded residences are reshaping the luxury real estate market in India by offering a unique blend of prestige, exclusivity, and world-class amenities. These residences are not just about owning property; they offer a lifestyle that combines sophistication with convenience, catering to those seeking elite living experiences. With top-tier developers entering the market, branded residences are designed to the highest standards, offering amenities such as concierge services, private pools, and wellness centres.

For high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs), branded residences provide a clear statement of status, while also offering functional, top-of-the-line facilities. This combination of exclusivity and practicality makes them increasingly popular not only for those seeking luxury living but also as investments in a rapidly growing market.

Coming to HCBS Developments, how do you maintain competitive edge and meet the demands of modern consumers?

We maintain our competitive edge through a combination of strategic location selection, commitment to quality construction, and a strong focus on customer satisfaction. The company is over 30-year old. It has built a strong presence across multiple real estate segments, including residential, commercial, independent floors, and IT/ITES spaces, addressing a wide range of consumer needs. Our projects, such as the premium Auroville Plaza and the eco-friendly Sports Ville, feature innovation and modern amenities.

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