Redefining Luxury Real Estate in India
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- 8th Oct 2021
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Gone are the days where as a real estate developer all you had to do is build homes. The really successful real estate and property development companies are now focussing on creating unique experiences and customised factors within every home for potential buyers. Many such real estate developers are working with luxury brands to deliver some remarkable living experiences to attract home buyers who are ready to pay a premium for such real estate products too.
Many real estate agencies and property experts have noted that as predicted, affordable and mid-range homes have been selling briskly but surprisingly luxury homes have also been selling very well across multiple locations in India.
In the Indian real estate industry, roughly 1.40 lakh homes were successfully sold across the leading seven Indian cities in year 2020. Out of these 1.40 lakh homes, almost 6 per cent that is close to 8400 homes have been luxury homes in India costing on an average around Rupees 1.50 Cr onwards. This percentage and numbers are very close to the original figures that the luxury home sales in India achieved in the year before the pandemic struck indicating that there has been literally no impact of the pandemic on the luxury home sales in India.
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