Demand for luxury real estate increasing in India

By : 360 Realtors

30 May, 2019

The demand for luxury real estate in India has been increasing over the last few months. A recent trend reveals that property buyers are willing to invest in the luxury real estate segment. The developers have come up with a number of new projects in the key cities. The NRIs and HNIs are keen to acquire high-quality apartments in the country. Evidently, the sales of luxury apartments in India continue to increase. The increasing demand for real estate in India is a positive indication for the industry. It is presently recovering from the slowdown caused over the last couple of years due to the implementation of various reform policies by the government. With the demand for luxury homes rising, the industry is likely to get back to its normal health in the coming months.

The real estate industry in India is transforming fast. The structural policy reforms that have been made in the industry in the recent past have brought about a new paradigm, with a greater degree of transparency. Particularly, the demand for property in the residential real estate sector has been increasing consistently. As the focus lies on luxury homes to a great extent, the developers are customizing these properties as per the taste of the property buyers. The interest of the customers in the affordable housing sector is also increasing. However, people from the higher income groups look out for properties that come with a wide range of luxury features.

 Particularly, the demand for luxury homes has been increasing in the last 3-4 quarters in India. The developers have launched a number of new projects in the key cities like Mumbai, Bengaluru, Hyderabad and NCR. Other cities like Pune, Kochi and Chennai have also witnessed a steady demand for homes in the luxury segment. The overall tastes and preferences of the homeowners have evolved significantly. With home loans and EMI options available easily, the property buyers are finding it easy to invest in luxury properties.

Cities in the southwestern parts of the country have been witnessing an increment in the demand for luxury homes. Bengaluru, Mumbai and Pune, in particular, have been fast developing in this segment. The reputed builders are coming up with sophisticated apartments, and the luxury home buyers have a good opportunity to invest in these properties.

It should be noted that the prices of luxury homes depend on a number of factors, like the location of the plot, amenities available and so on. The infrastructure around the project, transportation system, availability of education and healthcare services and proximity from the commercial zones in the city also determine the prices of these properties. Investors have a good opportunity to make the purchase now. The luxury property prices in India are further likely to rise in the coming months.