Delhi-NCR Residential Market Will Be Driven By Multiple Price Segments - Sana Rezwan

As Executive Director and North India head of Prestige Group, Sana Rezwan is behind the company's foray into the Delhi-NCR market and is passionately steering it in this highly competitive region. In this exclusive interview, she talks about dominant market trends and home buyers' preferences and choices in the residential segment, infra and connectivity boosts to realty, the growing popularity of wellness-led developments, prospects of real estate in the region and future residential hotspots of Delhi-NCR.

Q. How do you view buyer trends in Delhi-NCR markets, and how different are buyers' preferences and choices in the NCR market vis-à-vis the southern market?

Every real estate market has its own characteristics, and understanding these local nuances is essential. While there are many common aspirations—such as quality construction, trust, and a superior lifestyle—buyers in Delhi-NCR and South India often differ in what they prioritise during the purchase decision.

In Delhi-NCR, buyers are extremely value-conscious and evaluate every purchase through the lens of long-term appreciation, return on investment, and future liveability. They closely assess the developer's credibility, construction progress, location, infrastructure development, and the project's potential for capital appreciation. Accessibility is another key consideration, with seamless connectivity to expressways, metro networks, airports, business districts, schools, healthcare, and retail playing a significant role in influencing buying decisions.

In comparison, while buyers in Southern markets also value appreciation and connectivity, there is often a stronger emphasis on end-use, long-term family living, construction quality, community planning, and the overall lifestyle experience. The purchase decision tends to be driven by a balance of emotional and practical considerations.

Today's homebuyer is far more informed and discerning than ever before. They seek developers who not only build quality projects but also inspire confidence through consistent execution and transparent communication. These are the qualities that will define market leadership in the years ahead.

Q. How do you see the Delhi-NCR market shaping up, and how challenging and promising do you find it vis-à-vis the southern market?

Delhi-NCR is undoubtedly one of India's largest, most dynamic, and most competitive real estate markets. It presents both significant opportunities and unique challenges, making it an exciting market for any developer with a long-term vision. From an opportunity standpoint, we believe the growth potential of Delhi-NCR is phenomenal. Massive investments in infrastructure, expanding road and metro networks, the upcoming Noida International Airport, expressway-led development, and the continued growth of commercial and employment hubs are reshaping the region. These developments are creating entirely new residential corridors and unlocking long-term value for both homebuyers and investors.

The Noida-Greater Noida Expressway and Yamuna Expressway are emerging as high-growth destinations driven by infrastructure, planned urban development, and improved connectivity. Gurgaon continues to remain one of India's strongest real estate markets, supported by its robust corporate ecosystem, IT and financial services sector, premium commercial developments, and excellent connectivity to Indira Gandhi International Airport. Together, these micro-markets offer a diverse range of opportunities across residential, commercial, and mixed-use developments.

At the same time, Delhi-NCR is a market where customers have become highly discerning. Buyers expect developers to demonstrate financial strength, execution capability, transparency, and timely delivery before they place their trust. This raises the benchmark for every developer entering the market.

Compared to many Southern markets, where the developer ecosystem has traditionally been more stable and trust levels relatively stronger, NCR has witnessed greater volatility over the years. As a result, credibility and execution have become the biggest differentiators. Developers who consistently deliver on their promises are the ones who build lasting market leadership.

Q. How is the mega infra push and connectivity boost through projects like Noida International Airport boosting NCR realty?

Infrastructure has always been the biggest catalyst for real estate growth, and nowhere is this more evident than in Delhi-NCR today. Large-scale infrastructure investments are not only improving connectivity but are also redefining the region's growth corridors and creating entirely new economic centres. The Noida International Airport, in particular, is expected to be a game changer. Airports have historically acted as economic growth engines, attracting business parks, logistics, hospitality, retail, and ancillary industries. This creates a virtuous cycle of employment generation, infrastructure development, and housing demand, leading to long-term value creation for both homeowners and investors. Ultimately, while infrastructure creates the opportunity, it is the quality of development and timely execution that unlocks its full potential.

Q. Do you find the surging luxury housing demand sustainable or cyclical? What price segment will drive the future residential demand in NCR?

The current momentum in the luxury housing segment is backed by strong structural fundamentals rather than being purely cyclical. While every real estate market experiences phases of acceleration and moderation, the demand we are witnessing today is driven by genuine shifts in buyer behaviour.

Over the last few years, there has been a significant increase in disposable incomes, wealth creation, and entrepreneurial success. At the same time, homebuyers have started placing far greater importance on larger living spaces, wellness, lifestyle amenities, and integrated communities. A home is no longer viewed only as a financial asset—it has become a reflection of lifestyle and long-term aspirations.

In Delhi-NCR, luxury housing has also benefited from a clear preference for established and credible developers. Buyers today are willing to pay a premium for quality construction, superior design, timely delivery, and the assurance that the project will be completed as promised. This has resulted in the premium and luxury segments outperforming the broader market.

Having said that, we believe the future of the NCR residential market will be driven by multiple price segments rather than one single category. Premium housing will continue to remain a strong growth driver, particularly in well-connected micro-markets such as Gurgaon, Noida Expressway, and emerging corridors around the Noida International Airport. At the same time, the upper mid-income segment will continue to contribute significantly to overall housing demand. This segment represents a large and growing population of salaried professionals, entrepreneurs, and upwardly mobile families who aspire to upgrade their lifestyle while remaining value-conscious.

Q. Are green buildings and wellness-led developments becoming mainstream?

Absolutely. Sustainability and wellness are no longer niche concepts—they have become integral to the way modern communities are planned and developed. Today's homebuyers are increasingly conscious of the quality of their living environment, and they expect developments that promote healthier lifestyles while minimising their environmental footprint. Today, developers strive to create communities that maximise open spaces, encourage walkability, incorporate abundant landscaping, improve natural light and ventilation, and offer wellness-centric amenities such as parks, jogging tracks, cycling paths, sports facilities, and recreational spaces that enhance the overall quality of life.

Q. How do you see proptech transforming sales, construction and customer experience for developers?

Technology is fundamentally reshaping the real estate industry. Today, PropTech is no longer just about digitising processes—it is about enhancing transparency, improving efficiency, and delivering a superior customer experience across the entire real estate lifecycle.

Technology is equally transforming construction. Digital project monitoring, planning tools, real-time reporting, and data-driven decision-making enable better coordination across teams, improve execution efficiency, enhance quality control, and help maintain project timelines. This ultimately translates into better delivery outcomes for customers. Going forward, I believe technologies such as artificial intelligence, data analytics, automation, smart home solutions, and predictive maintenance will further transform the real estate experience.

Q. What is your outlook on the Delhi-NCR market? What dominant trends do you foresee going forward, and which will be the residential hotspots of NCR?

The long-term outlook for the Delhi-NCR real estate market is extremely optimistic. It is one of India's largest and fastest-evolving real estate markets, supported by a strong economy, rapid urbanisation, world-class infrastructure development, and a growing base of end-users as well as investors. Over the next few years, we expect the market to be driven by several structural trends rather than short-term cycles.

First, infrastructure-led growth will continue to reshape the region. Landmark projects such as the Noida International Airport, metro network expansion, expressways, and improved regional connectivity will create new growth corridors and significantly enhance the attractiveness of emerging micro-markets.

Second, buyers will increasingly prefer organised and trusted developers. The market has become far more quality-conscious, with customers placing greater importance on timely delivery, transparency, financial strength, and long-term credibility. This trend will continue to favour established brands.

Third, integrated townships and lifestyle-led communities will gain further momentum. Homebuyers today are looking beyond four walls—they seek a complete ecosystem with open spaces, wellness amenities, retail, education, recreation, and convenience within a single development. Another important trend is the continued premiumisation of the housing market. Buyers are upgrading to larger homes with better specifications, enhanced amenities, and sustainable design, while expecting greater value and quality from their investment.

In terms of growth corridors, Noida-Greater Noida Expressway will remain one of the strongest residential destinations due to its excellent connectivity, commercial development, educational institutions, and planned infrastructure. The Yamuna Expressway is emerging as a major growth corridor, supported by the upcoming Noida International Airport, industrial development, logistics, manufacturing investments, and large-scale government infrastructure initiatives. We expect this region to witness sustained residential and commercial growth over the coming decade.

Gurgaon will continue to be one of India's most preferred premium residential markets, driven by its strong corporate ecosystem, Grade-A office space, multinational companies, robust social infrastructure, and seamless connectivity to Indira Gandhi International Airport.

We also see continued opportunities in Greater Noida West and emerging parts of Ghaziabad, where improving infrastructure and relatively attractive price points are drawing both first-time homebuyers and upgrade buyers.

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