The luxury segment of the Indian realty market is witnessing a growth in demand despite the gradual progress of the industry. The country has caught the eyes of the Luxury builders who are finding it a diverse and vivacious market to explore. More focus is being put on the development of gated residential complexes comprising villas, penthouses, bungalows or luxury apartments. Top-notch designs and amenities, golf clubs will be a part of them. Several ultra-luxury projects are already on their way to offer an entirely new dimension to luxury living.
Most of these developers have fully furnished apartments on offer while some of them are providing homes with the custom decor in collaboration with renowned interior designers from this country and abroad.
The developers are presently shifting their concentration on the planning of townships based on themed modern landscapes such as forest, hills, apart from the world-class amenities like the golf course. These housing projects are following definite architectural styles as per the demand.
There is no doubt that the Real Estate market of India is being driven by the Affordable segment of houses. At the same time, the increasing demand for Luxury Housing cannot be ignored in any way. Several factors are responsible for this growth, the first being an abrupt change in the economy of India. As predicted by the IMF (Indian Monetary Fund) in April 2017, the economic growth rate of the country would reach 7.9% during the period between 2018 and 2019.
Researches are evident of the country’s Real Estate recuperating from the prevalent slowdown with HNIs investing in this sector. The demand in the Luxury housing segment is expected to rise after 2020.
What is the present status of the Luxury segment in the country?
The sale of luxury homes on a whole has increased over the recent years in Delhi NCR. Cities like Faridabad, Gurgaon and Noida are witnessing new launches in this category of housing. The National Capital Region accounts for a significant number luxury projects that are either about to get finished or are already operational. The social and physical infrastructure of Gurgaon offers premium living with the city topping the chart in terms of luxury houses.
Besides, the functioning of RERA has also helped the country’s realty sector to become popular and lucrative again in the global market. As a result, the sector is experiencing an increased inflow of foreign investments.
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