Luxury housing gaining momentum in India!

The average price for a luxury segment real estate across India is above Rs. 1 crore depending on their location and available facilities. Super luxury segments are equipped with world-class features both in terms of price and style, for example, there are sixth sense electronic fittings and 80% oxygen-rich environment to boost the health of the residents. There is availability of these luxury houses in metros like Delhi, Bangalore, Mumbai, Kolkata, Gurgaon and Chennai. The changing demographics of the country coupled with the rising aspirations initially brought up the existence of luxury housing.

Luxury housing primarily caters to the high-end investors. With the rapid pace of urbanization, are the urban families increasingly opting for luxury homes? Makaan.com conducted a survey to measure whether the luxury housing (having a budget of Rs. 1 Cr. +) is gaining momentum in India? The maximum number of people were of the view that there is an increasing demand for luxury segments while only 7% said that they did not have much idea about it.

The increasing demand of luxury segments can be attributed to the increasing rate of High Net worth Individuals (HNI) and the rapid pace of urbanization. Builders and developers of tier 2 cities are also exploring the luxury segment market and providing the home buyers the option of luxurious, super luxurious and studio apartments. Another reason for the luxury housing to gain momentum is the increasing investment by the NRIs in the Indian real estate industry. Moreover, at present, in comparison to hotels, the studio apartments are proving to be more convenient and sought after by the NRIs visiting India.

Buying a home in Pune is one of the most significant financial investments that one ever makes; therefore, it is only advisable to do a proper market research and survey prior to finalizing anything. For more of such poll reports and to cast your vote in a poll, visit MakaanIQ.