Indian Luxury housing,which took a beating in the last two years, is poised to gain momentum yet again, basically in India’s Tier-I cities.

Luxury property in India attractive segment again
Though luxury property in India emerged as an attractive segment with investors in 2006-07, characterised by launches of dozens of projects aimed at the affluent class, the global economic downturn arrested this trend in 2008 according to Jones Lang LeSalle India. From then on, the focus of Indian builders has shifted to affordable property in India.

India heading for 8% GDP
However, with India’s GDP expected to clock 8% plus growth in 2010-11 and probable double-digit growth starting from 2012, the country is ready for the next wave of wealth creation, especially in tier-I cities. The Indian property developer community senses this and has launched more luxury property projects in the recent past.

Navyroof.com see’s large increase in Mumbai luxury property projects
At Navyroof.com we have seen a large increase in luxury projects coming to market in recent months with lots of new luxury property in Mumbai and property in Delhi coming to market. This is a major change away from the last two years when developers shelved lots of high end projects.

This trend should to gather pace, primarily in Tier-I cities, especially in Mumbai and other such areas where wealth creation is a significant factor and continues to be more pronounced.

Similar to the stock market reaching new heights, Mumbai city will lead the pack with more launches of taller, high-specification and luxurious projects in the future.

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Tags: Luxury homes in India, Luxury property in India, property in India, Property in Mumbai

This entry was posted on Friday, August 13th, 2010 and is filed under Property in India. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.