There is hardly any doubt that this novel development is an indicator of bright prospects and the success can be more given that the captains of the industry have the determination to retain the same under an iron grip. What makes this scribe talk in this manner? Well, India, on account of several studies of late, is witnessing a surge in the demand of luxury real estate yet again and thanks to this development premier realty developers are on the verge of launching more luxurious property projects regardless of recent commitments to more affordable property.
Let’s be more specific, it may help you to comprehend the issue more. Only on the last year the industry perceived demand for luxury real estate decreased and this made them declare that in 2010 they would be focussing on the middle and lower end of the market. Nevertheless, in all these six months there has been a profound transformation. A number of developers are reporting a surge in demand for higher end real estate and on the word of DLF, largest realty developer in the realm of India, it sold more luxury and semi-luxury apartments in December than ever before.
Take for instance Indiabulls Real Estate, another premier player. As stated by Indiabulls Real Estate, it has sold 100 apartments in its 65 storey Indiabulls Sky in Mumbai in the past four months and it has recently launched another luxury project, Indiabulls Sky Suites. The development is quite exciting. Isn’t it?
What is Indiabulls Real Estate doing now? It is all set to bring forth a super luxury development ‘by invitation only’ and priced 10 to 20% higher than its other luxury projects. Speaking on this a company spokesman, it has been encouraged by response for its premium housing projects.
We must also take into account Mumbai based developer, Orbit Corporation. The real estate developer has affirmed that it will launch one luxury project in the city every quarter. It is to be noted that Orbit sold off its first lot of 18 flats in Orbit Terraces, its premium housing project in the city within 17 days of its launch.
0 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.