The business of the luxury home segment has been going steady in recent years. Though the Indian property market is in a lull phase, yet the luxury home market is unaffected. The luxury home segment has been more favored by the NRI’s after the Rupee depreciation.
Reports from the Confederation of Indian Industry indicate a 20% growth in the luxury real estate India market almost touching $5.8 billion. After the slowdown during the year 2012, the current year is witnessing signs of recovery. The market is springing with projects being launched all across the country. New home offerings, more influx of NRI’s and a drastic change in people’s lifestyle has caused the spurt of demand for luxury homes that are sold at a price tag from 1 Crore upto 20 Crore rupees.
The rise in the demand of luxury homes has caused the developers to come up with many plans and schemes to promote luxury housing in every metro of the city. Luxury homes for every budget is created and promoted successfully meeting every need of the consumers.
Since, the prices of the luxury homes are quite high there are always speculations around the pricing as to how the price is determined. Developers say that factors such as location of the project, real estate developer’s reputation, the layout design, size, and neighborhood are some of factors that determine the cost of homes. The residential location is however the most important factor that determines the cost of the house. Such luxury home projects are priced between Rs. 8 Crores upto 35 Crores. For eg, in the city of Gurgaon a residential project is priced at around Rs. 7000 psf which is considered to be luxurious whereas in the city of Mumbai the range starts from Rs. 15000 psf. Developers expect a further growth between 25 to 30% in the luxury market in the coming days.
Visit for more about real estate India search at RealtyCompass.com, where you can choose your new home at your own convenience.
Source: http://www.realtycompass.com/blog/advisory/the-real-estate-india-market/
Reports from the Confederation of Indian Industry indicate a 20% growth in the luxury real estate India market almost touching $5.8 billion. After the slowdown during the year 2012, the current year is witnessing signs of recovery. The market is springing with projects being launched all across the country. New home offerings, more influx of NRI’s and a drastic change in people’s lifestyle has caused the spurt of demand for luxury homes that are sold at a price tag from 1 Crore upto 20 Crore rupees.
The rise in the demand of luxury homes has caused the developers to come up with many plans and schemes to promote luxury housing in every metro of the city. Luxury homes for every budget is created and promoted successfully meeting every need of the consumers.
Since, the prices of the luxury homes are quite high there are always speculations around the pricing as to how the price is determined. Developers say that factors such as location of the project, real estate developer’s reputation, the layout design, size, and neighborhood are some of factors that determine the cost of homes. The residential location is however the most important factor that determines the cost of the house. Such luxury home projects are priced between Rs. 8 Crores upto 35 Crores. For eg, in the city of Gurgaon a residential project is priced at around Rs. 7000 psf which is considered to be luxurious whereas in the city of Mumbai the range starts from Rs. 15000 psf. Developers expect a further growth between 25 to 30% in the luxury market in the coming days.
Visit for more about real estate India search at RealtyCompass.com, where you can choose your new home at your own convenience.
Source: http://www.realtycompass.com/blog/advisory/the-real-estate-india-market/
No comments:
Post a Comment