Luxury homes worth $30 bn launched in 4 yrs

The residential market is currently going through slow demand, although growth for luxury housing is moderate, giving buyers the opportunity to negotiate

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.