The total value of luxury homes, launched in 2008-2012 was worth US $30 billion, says a Jones Lang LaSalle report. The luxury homes were launched in 182 residential apartments, offering a total space of 25,570 units. These apartments were launched across NCR-Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Pune and Kolkata.
However, metros like NCR-Delhi, Mumbai, Bangalore and Chennai are leading in terms of market share of these launches, with NCR-Delhi leading (at 44% of the total), followed by Mumbai (21%), Bangalore (11%) and Chennai (10%).
The residential market is currently going through a phase of slow demand, although growth for luxury housing looks moderate, giving buyers the opportunity to negotiate.