A sneak peek into India’s Premium Real Estate Market
Real Estate Market in India
In past few years, real estate market of India has evolved from residential units at great location to luxury and vibrant concept of branded homes. These branded residential units or houses have make up this emerging luxury housing projects where the price of luxury houses are about $ 300,000 for 2000 square feet for the starter size for apartments and into bigger and larger sizes depending on the category of the residential projects. In last 10 years, our country has under gone rapid globalization and urbanization which paved the way for employment opportunities with high income trends. However; these high earning individuals are looking for the world-class amenities to reflect their lifestyle on how they want their homes to look like.
According to real estate experts, currently it is one of the fastest growing clusters in residential housing segment as it would take 1.5 million luxury residential units to cater the demand in the next 10 to 12 years, as per the reports of Business World. In present, most of the real estate developers are taking the advantage from the opportunity which needs to cater the housing needs while also getting high incentives. Now most of the real estate developers are targeting the uber rich of the city, who are willing to pay for property which is luxurious enough to reflect their social as well as financial place in the hierarchy. Apart from that there is also sudden influx for investments on bespoke properties because of the emerging trend of owning luxury as well as more than one property in same or different city in the upper segment of the society.
While making an investment in the premium properties, there are few uber rich individuals who prefer to diversify their assets that can be fueled by several reasons ranging from passionate and practicality inclination to investment opportunities. In present, the fastest growing real estate market of India, its common trend to own more than one property and it’s also the aspiration for the higher class as more than 80 percent of them are investing in at least two properties while the balance 55 percent stake on three or even more. In Indian real estate market there are also few international developers who are ready to invest in the customized possessions to cater the luxury housing demand for the wealthy who want to be at par with their peers’ or surpass their luxury lifestyle.
Rising aspirations of the wealthy professionals are also in the target market of real estate developers for their premium constructions. Luxury residential units are definitely looking for promising trend in Indian real estate market to gain the momentum, which could even surpass the traditions of real estate market.
