The Indian real estate market is on the recovery path. Several reports suggest that not only affordable housing but the luxury housing segment in the realty sector will continue to grow and remain strong.
Owing to the thrust of the Indian government, affordable housing is on the rise. However, it is now seen that the demand for luxury housing is also growing by leaps and bounds.
As per IKON report, the Indian real estate market is on a recovery path and is witnessing huge investments by HNIs, usually in the luxury segment. In fact, the demand is expected to shoot in the luxury segment after 2020, which is in the near future.
The economic turnaround will definitely be seen on the ground level. While there is a spurge in low-cost housing, developers are finding new and innovative ways to develop luxury housing projects.
Be it venturing with well-known domestic and international interior designers to provide custom decor or to create a specific architectural style, such as Spanish, European, French, German, etc. Indian developers are leaving no stone unturned when it comes to wooing luxury housing buyers.
Some developers are also delivering fully furnished service apartments to rejuvenate and work under luxury segment while some are creating whole luxury townships with golf course and modern landscape on the themes of hills, mountains and forest.
As of now, luxury housing is gaining more and more attention in metro cities, especially NCR and Mumbai. Owing to close proximity to the national capital, NCR has witnessed an excellent overall increase in its luxury home sales during the past few years with new projects being launched in cities like Gurgaon, Noida and Faridabad.
While some of these luxury projects are operational, others are just about to deliver. Due to the close proximity to International Airport, it is Gurgaon, which is emerging as a hot spot for luxury housing projects.