Luxury Real Estate In The Indian Context

Luxury housing in India is the proverbial sitting duck for target practice in the shooting gallery that is the Indian residential property sector.

Market pundits and the media never get tired of taking potshots at it, and claiming that this segment has got run out - even though Indian luxury housing is actually something of a newbie on the pitch and still has very long innings ahead of it. Maybe the fact that there are a lot of wealthy people in a country with so much poverty strikes some as an aberration, rather than a reason for pride. Nevertheless, it is a hard fact that within the Asia Pacific region, India has the fourth-largest population of millionaires with around 2.36 lakh individuals who fall firmly in the high net worth category. In the Forbes list of the ‘World’s Billionaires’ for 2017, India accounts for an impressive 101.

SUPER-LUXURY – IN A CLASS OF ITS OWN

These are the people who buy or build homes which fall squarely in the super-luxury category of housing. Their homes can be found in every major city’s ritziest locations, towering over the rooftops of older buildings in the priciest areas of land-starved cities like Mumbai, or in serene estates sprawled across generous acres of prime land in cities like Delhi, Pune and Bangalore. What bears noting here is that these homes are not even counted in any census of luxury housing units in the country - they are clearly in a class of their own, and not part of any inventory that will ever hit the market and be up for grabs.

LUXURY HOUSING – WHERE THE REAL ACTION IS!