Riding the Wave of Success: Realtors Shift Focus to Luxurious Housing
Following the prosperous period for affordable housing, real estate developers are now directing their attention towards the luxury housing market. The increasing demand for opulent residences suggests significant potential for growth in this sector.
Developers Prepare for a Surge in Luxury Projects
This surge in demand has prompted numerous prominent developers, including Ansal API, Unitech, DLF, and Emaar MGF, to enter the high-end market. These companies are poised to launch a substantial number of luxury housing projects within the next six months. Each individual unit in these developments is projected to be priced in excess of Rs. 2 crore.
Market Recovery Fuels Optimism for Realty Boom
Shravan Gupta, the executive vice-chairman and managing director at Emaar MGF, observes that the end of the recession and the improving job market signal a potential resurgence in the real estate sector. "Since the recession period is over and job market is looking up, there are chances of realty boom too."
Key Cities to Witness Influx of Luxury Projects
Within the next six months, cities such as Punjab, Gurgaon, Bangalore, Hyderabad, and Kerala are expected to experience a significant influx of these high-end housing projects. This concentration of development highlights the growing demand and investment potential in these key urban centers.