Page 4 - Luxury Housing

Luxury home sales surge 37.8% across top seven cities in Jan-Sept 2024

Overall, about 225,000 units were sold across the top seven Indian cities during the period, says CBRE

Shapoorji Pallonji Real Estate, Kanodia to develop 1.74 acre luxury project

Shapoorji Pallonji Real Estate (SPRE) has formed a joint venture with Kanodia Group's real estate venture Kreeva to develop a luxury residential project in Gurugram. The land is located at Sector 46, Gurugram. Spanning across 1.74 acres, the project will consist of luxury apartments, targeting homebuyers in the National Capital Region (NCR), the company said in a statement. Venkatesh Gopalakrishnan, Director Group Promoter's Office, MD & CEO, Shapoorji Pallonji Real Estate (SPRE), said, "We are excited to partner with KREEVA (Kanodia Real Estate Venture Arm) to bring our expertise in real estate development to Gurugram's Sector 46". This collaboration is in line with the company's vision of expanding its footprint in key markets across India, he said. "This is our second project in Gurugram, and we aim to create a landmark that will redefine the skyline of the location and provide an unparalleled living experience," Gopalakrishnan said. Gautam Kanodia, founder of Kreeva and ...

DLF sales jump over 3X to Rs 6,404 cr in Q1 on high demand for luxury homes

Realty major DLF's sales bookings jumped over three-fold to Rs 6,404 crore during the first quarter of this fiscal on strong demand for its luxury housing properties. The company had sold properties worth Rs 2,040 crore in the year-ago period. DLF has given guidance to achieve Rs 17,000 crore worth of sales bookings for the entire 2024-25 financial year as against nearly Rs 15,000 crore in the preceding year. According to its latest investor presentation, the company's sales bookings in the April-June quarter were driven by its luxury project 'DLF Privana West' at Sector 76/77, Gurugram that saw sales of Rs 5,600 crore. In its super-luxury housing project 'The Camellias' at DLF 5, Gurugram, the company sold 4 units for Rs 251 crore. On Thursday, DLF reported a 23 per cent increase in its consolidated profit to Rs 645.61 crore in the first quarter of this fiscal. Its net profit stood at Rs 527 crore in the year-ago period. Total income rose to Rs 1,729.82 crore during the April-J

Houses worth over Rs 4 cr record 27% growth in sales in Delhi-NCR: CBRE

The first half of 2024 witnessed a surge in the luxury housing market in the Delhi-NCR region, driven by affluent buyers, enhanced amenities, and major infrastructure projects, according to CBRE

Sale of Mumbai luxury homes, priced over Rs 10 cr, up 8% to Rs 12,300 cr

Demand for luxury homes, each priced Rs 10 crore and above, remained strong with sales rising 8 per cent in January-June to around Rs 12,300 crore, according to a report by India Sotheby's International Realty and CRE Matrix. Sales stood at Rs 11,400 crore in the first half of the 2023 calendar year. In the report, India Sotheby's International Realty and CRE Matrix noted that the surge at the high end of the market aligns with an ongoing bullish trend in residential property sales overall, reflecting the exuberance and confidence in the Indian economy. India Sotheby's International Realty, one of the leading transaction and advisory firms for luxury homes, and data analytics firm CRE Matrix released the report on Mumbai's luxury housing market (including both primary and secondary market) for the first half of this year on Thursday. Out of the total sales, the primary luxury segment saw sales worth Rs 8,752 crore while the secondary (resale) market saw record sales of over Rs 3,50

Amid high demand, real estate developers ramp up uber-luxury projects

Luxury home sales in India surged by 75 per cent last year

Ultra-luxury housing in India sees shift to ultra-customised marketing

Prestige Group, a leading real estate developer, is targeting ultra-luxury buyers using the "by appointment" method

LAUNCHING ELIXIR RESERVE 2: Luxury So Rare, You'll Wonder Whether It's Mumbai

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Real estate sector is looking to a smart future supported by technologies

The use of technology today comes into play right when a project is being designed, and goes on to assist in its customisation and maintenance

Luxury housing cashes in on a growing affluent class, evolving lifestyles

This surge is being fuelled by millennials with increasing incomes and elevated expectations

In home and office, India's real estate market charting a course for growth

In the residential domain, a resurgence post-pandemic is evident, characterised by robust market demand buoyed by both buyer confidence and favourable economic conditions

Luxury is a small percentage of any developer's portfolio: Tariq Ahmed

Technology also enables home management through applications, including automation, guest access, and security. These are the key themes and trends we are seeing in terms of what people want

Developers are curtailing affordable housing projects amid weak margins

According to PropEquity, new launches in the affordable housing segment have fallen over the last two years in both Tier-I and Tier-II cities

Sobha Group to soon enter Mumbai luxury housing market, says founder Menon

Realty firm Sobha Group has chalked out an aggressive expansion plan for its India business and will soon enter the Mumbai luxury housing market with an aim to achieve more than a four-fold jump in annual sale bookings to Rs 30,000 crore in the next 4-5 years, according to its founder PNC Menon. Sobha Group, which was founded in 1995, has a real estate business in India and Dubai, with plans to soon enter the US property market. Buoyed by its success in the Dubai real estate market where Sobha Group clocked Rs 35,000 crore worth of sales in 2023, Menon -- the richest person in Oman -- intends to replicate the same in the Indian market in terms of scale of business and quality standards. Sobha Group's Dubai entity named Sobha Realty has developed a large resort-style luxury township here named 'Sobha Hartland' with complete backward integration to ensure quality. Another township and a few more projects are being constructed here. "Our India business Sobha Ltd will enter the Mumbai

Cupboard to cabinet: Storage solutions you need for a clutter-free home

If you live in a tiny apartment or a sprawling bungalow, brands have products for every need

Luxury homes' share in total sales nears affordable for first time: Report

Demand for luxury units has consistently increased in the last five years

Quess Corp Ajit Isaac seals record real estate deal at Rs 67.5 cr

The property is located in the southern suburb of Koramangala in Bengaluru, popularly known as billionaire street. Flipkart co-founder Sachin Bansal is among its residents

All 224 flats in Gurugram project sold in 15 mins for Rs 440 cr: Ashiana

Realty firm Ashiana Housing on Saturday said it sold 224 luxury flats in Gurugram for Rs 440 crore within 15 minutes of its launch. The project is located at Sector 93 in Gurugram, Haryana. In a statement, the company said it has "sold out the entire phase 3 of its prestigious project, Ashiana Amarah within 15 minutes of launch". "We are very happy with the incredible response to Ashiana Amarah phase 3 launch. We started registration at 11 am and we had received 800 cheques for 224 units by 11.15. In 15 minutes it was oversubscribed four times," Ashiana Housing Joint Managing Director Ankur Gupta said. He attributed the oversubscription to the company's brand value and execution track record. "Our novel kid-centric concept is also working. People want their children to be brought up in better places, with better amenities and quality of life and that is what Amarah is promising. "So there is a lot of excitement in the market. Ashiana is also planning to launch phase 4 in the comi

Signature Global to invest Rs 2,200 crore to develop housing project

Realty firm Signature Global will invest Rs 2,200 crore over the next five years to develop a new luxury housing project in Gurugram as part of its expansion plan amid strong consumer demand, its Chairman Pradeep Aggarwal said. "We have launched a new housing project in Sector 37D, Gurugram on Dwarka Expressway. The total units will be 1,008 in the project," he said. The company has already sold the entire 1,008 luxury flats for over Rs 3,600 crore, reflecting strong consumer demand despite the price rise. Aggarwal said the company received 5,400 EoIs (Expressions of Interest) from customers in this new 16.5-acre housing project 'DE LUXE-DXP'. Asked about the project cost, Aggarwal said the company would invest around Rs 2,200 crore to develop this project. The investments will be funded through internal accruals and advances from customers against sale bookings. He said the company would deliver this new housing project in 2028. With sales of Rs 3,600 crore in this new project,

Luxury housing sales in India jumped 75% in 2023, threefold in Delhi: CBRE

The share of luxury homes, priced at or above Rs 4 crore, in total sales, also doubled in 2023