Luxury real estate in India in the fast lane – Here’s why
The unstoppable increase in homebuyers’ appetite for luxury residences firmly indicates that the demand for different categories of luxury properties has kept growing, showing no signs of tail-off. Unlike affordable housing, luxury housing has not witnessed a dry spell and enjoyed a phenomenal consumer demand in pre- and post-pandemic periods.
Recently, an Anarock study reported that luxury properties priced above Rs 1.5 crore are going through what some experts might call ‘a golden run’ in the metropolitan cities. The report accounts for an approximate sale of 84,400 luxury units (priced over Rs 1.5 crore) between January and September 2023 in quintessential property hubs like Delhi-NCR, MMR, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata outstripping the record of approximately 39,300 units sold in the corresponding period in 2022.
Apart from the ubiquitous upsize in sales, the expansion in the diversity of luxury residences is also a worthwhile phenomenon to observe lately. Uber-luxurious penthouses, villas, independent floors or apartments have become staple luxury offerings for the ultra-rich and business classes, especially with the apparent escalation in their demand in metro cities. Underscoring remarkable profitable values concomitant with the thrill of getting massive consumer attraction with no budgetary constraints, top developers and realty magnates have either upgraded themselves into luxury developers or are expanding their footprints in it swimmingly.
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One of the chief attributes of a bevy of luxury residences almost appearing to be irresistible avenues of wealth investment for the rich is that it has become an oasis of pathbreaking and
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