Demand for luxury homes on rise

By Accommodation Times Bureau

The residential real estate sector is witnessing a great demand, new trend for luxury homes across India where buyers mostly the NRIs and high net worth individuals. The prices of these homes are anywhere between Rs. 1 crore to Rs. 20 crore. According to the analyst these high net worth buyers are also benefiting from a sharp depreciation in rupee and real estate is cashing on.

According to the reports these luxury homes have been launched in metro cities Delhi, Mumbai, Kolkata, Bangalore and also in sub metro cities like Noida, Gurgaon, Greater Noida(NCR) Hyderabad, Pune. From 2008-12 these cities have witnessed there share for luxury homes. When seen particularly Delhi leads the market share with 44% Mumbai 21% Bangalore stood third with 11%. The office space demand is fluctuating in cities.

Another key segment is student housing. It is one of most responsive market and look up to in future. The corporate higher industry is planning to build 10 million sq feet of educational institution one can imagine the growth of market.

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