Mahagun Developers to Venture into Luxury Segment
The Noida Based Mahagun Group of Developers plans to make its foray into the luxury housing section as it foresees a great future for this segment in India. The Mahagun Group has already made its mark previously in the mid and upper-mid segment properties and Dhiraj Jain, the Director states his reasons for venturing into the luxury market and their USP to attract buyers.
The Mahagun Group of Developers had started out more than 40 years ago aiming to provide better living standards catering to the people of the mid and upper mid segments of society.
Reasons for Venturing into the Luxury Space:
Mr. Dhiraj Jain, the director of Mahagun Group states his reasons for making its foray into the luxury segment of the real estate market due to several factors that has motivated them to do so.
- The upper class segment of India is least likely to be affected by the regular economic imbalances that occur nationally or globally.
- There has been a considerable rise in the number of the super-rich class of people in the past few years and are likely to go up further in the coming years which have been estimated to be 2.19 lakh households having a net income worth Rs. 2.35 lakh crore.
- With the recent devaluation of the Rupee in the global market, many NRIs are looking to invest in Indian properties that they expect will give them great returns on their investment.
Current Projects in Progress:
A total of 10 projects are being developed at present by the Mahagun Group out of which 3 belong to the luxury segment.
- Mahagun meadows are a theme based development. It shall offer high-end villas and apartments in and around a golf course.
- Mahagun Mezzaria spans over a 20 acre plot of landscaped greens which will feature a mid-air hanging residences also belonging to the pure luxury segment. This will comprise of double height ceiling rooms, VRV air-conditioning and huge floor areas built under the green building concept. This project promises to be a benchmark in the standards of modern living.
- At Mahagun Moderne, the developers will be offering a Leandar Paes Tennis Academy, in-house music and dance academy and also include crèche and playschools. These will ensure that the projects are an exclusive specialty to all their esteemed customers.
Source: The Economic Times
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