The Punjab real estate sector has undergone a significant transformation in recent years, shaped by changing buyer aspirations and evolving market dynamics. Nikita Agarwal in conversation with Deepak Makhija, Business Head for Punjab at Emaar India, talks about these shifts, his journey with the brand, and the trends that will define the region’s property landscape.
How has the Punjab real estate market evolved in the past five years?
The most notable evolution in Punjab’s real estate sector has taken place after the COVID-19 pandemic. Two key changes stand out. First, individuals who previously believed that home ownership was unnecessary—opting instead to rent and invest their money elsewhere—reassessed their priorities. The pandemic underscored the importance of owning a personal home, prompting many to make that investment.
Second, financially comfortable individuals living in less-than-ideal housing realised that one’s living space should be both comfortable and aligned with personal preferences. This led many to upgrade to better residences that matched their lifestyle aspirations.
What attracted you to work with Emaar in this region?
Before joining Emaar, I was associated with DLF. My decision to move to Emaar was driven by both personal and professional considerations. Emaar is an internationally renowned brand, globally recognised for its landmark projects and quality developments. Professionally, assuming the role of Business Head for Punjab has given me the opportunity to broaden my perspective, deepen my understanding of the regional real estate market, and contribute to a brand of global repute.
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