Real estate developers in India are set to launch more luxurious property projects despite recent commitments to more affordable property.
Last year developers saw demand for luxury real estate fall off and declared that in 2010 they would be concentrating on the middle and lower end of the market. But what a difference six months has made. They are now reporting a surge in demand for higher end real estate.
The country’s largest real estate developer, DLF, said it sold more luxury and semi-luxury apartments in December than ever before.
Indiabulls Real Estate confirmed that it has sold 100 apartments in its 65 storey Indiabulls Sky in Mumbai in the past four months and it has recently launched another luxury project, Indiabulls Sky Suites.
More : propertycommunity.com
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