There has been a sudden surge of inquiries for second homes in the last year. Manav Singh, Chairman Imperial Holding, says, “A home in the hills is three times cheaper than one in the city and a second home is a necessity more than a desire. We’ve seen interest from professionals with an income of over ₹1 crore, businessmen with an income of more than ₹3-4 crore, retired individuals with disposable incomes, etc.”
Singh adds that investors and developers are now eyeing Tier II and Tier III cities too. “Places like Amritsar, Chandigarh, and Shimla are on the radar of bigger builders due to reverse migration. People went to big cities, not for a better standard of life, but to create wealth. Now, if they can do the same job by staying in a place like Goa or Shimla, why would they not do that,” he reasons.
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Esta historia es de la edición August 2021 de Architect and Interiors India.
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