Indian real estate firms are diversifying their portfolios to include between 3.5 crore and ₹45 crore, as they capitalised on the uptick in demand for opulent apartments especially among the new-generation entrepreneurs and C-level executives.
Luxury home sales in India, valued at 4 crore and above, surged by 75 per cent last year, doubling their share of total housing sales, according to CBRE's report.
In 2023, 12,935 such homes were sold, compared to 7,395 in 2022.
In January, the 'India Market Monitor Q4 2023' revealed the luxury segment now holds a 4 per cent share of total sales, up from 2 per cent in 2022.
Additionally, new launches increased by 45 per cent, fuelled by rising demand, signalling a notable uptick in the luxury real estate market. Bengaluru-based Prestige Estate Projects' Ocean Towers in Marine Lines offers ultra-luxurious 4-bedroom sea-view residences starting at ₹23 crore. And in the prime location of Pali Hill, Bandra West, Prestige Daffodils is offering uber luxury homes priced between ₹26 crore and ₹45 crore.
"Considering the excellent response that we received, we are already planning to launch the second tower in Prestige Ocean Towers. We will also be launching another uber luxury development in Worli in this financial year," said Anand Ramachandran, senior vice president, Business Expansion, Prestige Group.
Bu hikaye Business Standard dergisinin June 14, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin June 14, 2024 sayısından alınmıştır.
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