The
market for middle-income and affordable housing may currently be facing
some stagnation or going through a phase of slowdown, but that is
hardly the case with the premium housing segment. In fact, driven by the
fast pace of urbanization, higher disposable incomes, new offerings and
greater influx of NRIs, the luxury and ultraluxury housing segments —
with unit prices ranging between Rs 1 crore and Rs 30 crore — have not
only evolved significantly over the past few years in India, but are
also expected to grow handsomely in the near future at least.
Sandeep Bedi, the director (systems & strategy) of BPTP Ltd, says, “There is a definite increase in the demand for luxury housing and it is clearly emerging as one of the most vibrant and dynamic real estate segments in India. We believe that there is a substantial and sustainable market for this segment and the positive response to some recent luxury projects launched by developers in Mumbai, Delhi-NCR and Bangalore bear testimony to this.”
The outlook for premium housing also remains positive in view of the fact that HNI customers are usually least affected by any economic imbalance happening internally or externally. And, thankfully, “there has been a considerable rise in the number of the super rich in the past couple of years, which will go up further. By 2015-16, the number is expected to reach 2.19 lakh households with a net worth of Rs 2.35 lakh crore, from 62,000 households with a net worth of Rs 45,000 crore a year ago,” Pankaj Bansal, the director of M3M India, says. He says that it is also true that the Indian consumers are more aware of the international trends and aesthetics now, and even willing to spend more to live their dreams.
ABOUT M3M INDIA LTD:
Established over 15 years ago as a real estate developer, under the futuristic leadership of Basant Bansal, with the valuable support of his brother Roop Bansal, Director, M3M Group. M3M Group Stands for Magnificence in the trinity of Men, Materials & Money.
Apart from its ultra luxury residential project , M3M Golf Estate, the Group's latest commercial venture, M3M Urbana is 'Californialike' in design with consumer-friendly retail spaces and sophisticated office spaces that resemble 'Manhattan' , at a prime locale of Gurgaon. M3M Group has also launched M3M Cosmopolitan, one of India's finest retail and commercial hubs in Gurgaon.
Sandeep Bedi, the director (systems & strategy) of BPTP Ltd, says, “There is a definite increase in the demand for luxury housing and it is clearly emerging as one of the most vibrant and dynamic real estate segments in India. We believe that there is a substantial and sustainable market for this segment and the positive response to some recent luxury projects launched by developers in Mumbai, Delhi-NCR and Bangalore bear testimony to this.”
The outlook for premium housing also remains positive in view of the fact that HNI customers are usually least affected by any economic imbalance happening internally or externally. And, thankfully, “there has been a considerable rise in the number of the super rich in the past couple of years, which will go up further. By 2015-16, the number is expected to reach 2.19 lakh households with a net worth of Rs 2.35 lakh crore, from 62,000 households with a net worth of Rs 45,000 crore a year ago,” Pankaj Bansal, the director of M3M India, says. He says that it is also true that the Indian consumers are more aware of the international trends and aesthetics now, and even willing to spend more to live their dreams.
ABOUT M3M INDIA LTD:
Established over 15 years ago as a real estate developer, under the futuristic leadership of Basant Bansal, with the valuable support of his brother Roop Bansal, Director, M3M Group. M3M Group Stands for Magnificence in the trinity of Men, Materials & Money.
Apart from its ultra luxury residential project , M3M Golf Estate, the Group's latest commercial venture, M3M Urbana is 'Californialike' in design with consumer-friendly retail spaces and sophisticated office spaces that resemble 'Manhattan' , at a prime locale of Gurgaon. M3M Group has also launched M3M Cosmopolitan, one of India's finest retail and commercial hubs in Gurgaon.
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