The year so far has witnessed several luxury project launches by major real estate companies such as DLF, Unitech, Supertech, Tata Housing and Godrej Properties.
For instance, DLF announced the launch of The Crest in Gurgaon and King’s Court in Delhi, while Unitech is coming with The One in Gurgaon and another project in the same city.
Supertech has announced two luxury projects in the National Capital Region , wherein it has tied up with Armani and Disney for branded theme-based residencies.
Tata Housing has announced its luxury project, The Getaway, in Gurgaon, and Godrej will soon launch its luxury venture in Delhi.
Lodha Group and IndiaBulls Real Estate, too, came up with such projects in Mumbai and Purvankara Group in Bengaluru.
Numbers, too, show that more and more real estate players are going all out to launch luxury projects, compared to the mid or the affordable segments.
For instance, the number of luxury units launched in 2012 in Gurgaon (South Peripheral Road) stood at 3,144 against none in 2009 and 1,344 units in 2010.
In comparison, the new units that came up in the mid-segment were 2,774 in 2009, which came down to 1,468 in 2012.
In Malad, a Mumbai suburb, the luxury units launched in 2012 stood at 624, against just 32 in 2009.
In comparison, there were about 276 units in the mid-segment in 2009 and just 21 in 2012, according to data by real estate research firm PropEquity.
Experts reason that luxury is a slowdown-proof segment. And being a high margin business, it offers enough incentives for developers to focus on this segment.
The trend is expected to continue through this year, too, they said.
“In coming times, luxury will have more weight in a developer’s portfolio, both in terms of the number and value.
The NCR, Mumbai and Bangalore will continue to be luxury destinations because of high net worth individuals and investors,” a person tracking the real estate sector said.
Santhosh Kumar, chief executive -- operations, Jones Lang LaSalle India, said: “Mumbai, Delhi-NCR and Bangalore -- luxury and ultra-luxury residential projects have witnessed 10-fold appreciation over their launch prices in the last decade, implying more than 100
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