Two prominent real estate developers listed luxury projects in the ₹7 crore to ₹12 crore range, which were snapped up within days. The surge in demand for luxury and ultra-luxury homes among affluent Indians is attributed to the scarcity of launches in this segment and the anxiety of missing out on the most coveted properties in the region.
In markets like Gurgaon and Delhi, there is a notable shortage of supply to meet the escalating demand for luxury properties. Wealthy investors in Delhi, who traditionally favored bungalows, are now showing a preference for housing communities with modern amenities, particularly dedicated parking spaces—an increasingly challenging feature to secure, according to real estate experts.
DLF, a major player in the real estate sector, reported the sale of over 1000 luxury housing units, part of its latest offering Privana South in Gurugram, for ₹7200 crore within three days of pre-launch. Privana South, comprising 1,113 luxury residences across seven towers, features 4 BHK apartments and penthouses within the larger development, DLF Privana, spread over approximately 116 acres in Sectors 76 and 77.
Another listed real estate company, TARC Ltd, revealed plans to invest close to ₹1200 crore in a luxury housing project called TARC Kailasa, located in Central Delhi. This 1.7 million sq ft development, spanning 6 acres on Patel Road in Kirti Nagar, will consist of more than 400 units across five high-rise towers, each 35 floors high. Designed by Singapore-based architectural firm Andy Fisher Workshop, the construction will be executed by Arabian Construction Company.
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