Expect Rise in Property Launches at Comfortable Price Points, says Sandeep Chhillar of Landmark Group

New Delhi, March 20, 2025: Founder Chairman of Landmark Group Sandeep Chhillar remains bullish on the NCR real estate market. In Gurugram, Dwarka Expressway is where the action is, he says. Excerpts from an interview:

How would you describe the current sentiment in the Delhi-NCR real estate market?

Even though the experts anticipate 2025 to be the year of consolidation, I think the Delhi-NCR real estate market is ready for another big leap. The construction of Noida Airport, the opening of the Gurugram stretch of the Dwarka Expressway, and other major infrastructural projects such as DMIC will catalyze the region’s real estate development. Last year, NCR was among the top-performing cities in India, we anticipate that it will maintain its lead this year as well.

How has the demand for residential and commercial spaces evolved lately in the NCR market?

The last few years have been extraordinary for the sector. While starting with a demand for larger homes, it soon led to the popularity of luxury apartments. Suddenly, it seemed that price was not a factor till the project had a strategic location, reflected the buyer’s status, and fulfilled their aspirations. It is evident that, after location, amenities played a crucial role in driving the project’s demand. As for the commercial segment, the pattern has shifted towards mixed-use developments, combining office, retail, and studio apartments.

Are you seeing a shift in buyer preferences, such as larger homes or integrated townships?

Larger homes will continue to be highly preferred by buyers, though pricing will remain the key determining factor. The same holds true for integrated townships, where availability also plays a crucial role. For example, in 2024, the demand has outpaced supply, but we may not witness this anomaly this year.

Which micro-markets in Gurugram are emerging as real estate hotspots? How are projects in those markets performing in terms of demand and sales?

Undoubtedly, Dwarka Expressway leads by a pole position. Even though it was already a hot location, the inauguration of the 18.6-km stretch catalyzed the region’s rise to the top position. The availability of vast land banks in the Dwarka Expressway corridor also primes it for real estate development. Southern Peripheral Road (SPR) is already an established realty hot spot. New Gurgaon is also fast-catching and is high on buyers’ radar.

What are your expectations for real estate growth in the Gurugram market compared to others in these areas over the next few years?

Gurugram’s real estate will lead not just in NCR, but also continue to be among the country’s top realty markets. Its position as a corporate hub, proximity to Indira Gandhi International Airport, and the state government’s proactive policies, such as transit-oriented development (TOD) that increased the FAR and improvement in connectivity through the city’s metro network, will help it grow at a rapid pace in the next few years.

What is Landmark Group’s vision? How is the company looking at the year ahead?

Landmark Group has been instrumental in envisioning a new paradigm of realty. The company has several projects both in residential and commercial segments, which include luxury housing and high-street. Our projects are known for their enduring values and have provided significant appreciation to the customers. Looking ahead, the Group has an exciting year as we are gearing up to launch our new projects located in Dwarka Expressway. Besides, we have other key developments aligned probably in the second half of 2025.

What message would you like to give to investors and homebuyers considering properties in the NCR region?

For homebuyers and investors real estate has historically proven to offer significant price appreciation. Most importantly, every time is a good time to enter the market. The micro-market across NCR is witnessing healthy growth backed by increased demand and significant price appreciation hence we would say that the time is now. 2025 is going to be the year of consolidation.