Demand for luxury homes is growing
Mumbai- Inspite of downfall in sale, the demand for ultra-luxury and luxury homes is rising in the metro cities. A few luxury residential projects were launched despite of dullness in the real estate sector, according to a report by Jones Lang LaSalle, a real estate consultancy firm.
The rise in the number of high networth individuals (HNIs), an increase in the number of NRIs, influx of global lifestyle trends and rapid pace of urbanisation are some of the main reasons for the increasing demand for luxury housing as stated by the JLL research head, Ashutosh Limaye.
The recent fall in the value of rupee in global financial markets increased property buyers’ interest in investing in luxury housing and encouraged developers to launch luxury housing projects ranging between Rs 1 crore and Rs 20 crore, he added.
In a report, it is said that 182 luxury residential apartments were launched with 25,570 units across the top seven cities of the country.
Limaye said that the value of luxury homes will increase in future because of the presence of around 1.53 lakh HNIs and still growing, those who are new in rich segment and people who obtained wealth and have aggressive lifestyles.
Some of the developers in the real estate who are into luxury residential segment are Sobha, DLF, Lodha, Sunteck, Hiranandani, Kohinoor Developers. One of the projects by Lodha Group, World One Tower in Central Mumbai has a price tag of up to Rs 50 crore.
Central Mumbai, DLF, global financial markets, global lifestyle trends, high networth individuals, Hiranandani, Jones Lang LaSalle, Jones Lang LaSalle India, Kohinoor Developers, Lodha, Luxury housing, luxury residential segment, Metro Cities, Mumbai, Mumbai India, Property Buyers, Real Estate Sector, Sobha Developers, Sunteck Realty, ultra luxury homes, urbanisation, World One Tower
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