Page 5 - Luxury Housing

Hiranandani Group to invest Rs 2,000 cr on new housing project in Mumbai

Realty firm Hiranandani Group will invest Rs 2,000 crore to develop the first phase of its luxury housing project comprising 330 units at Powai in Mumbai and has already sold 150 units for Rs 1,100 crore within the first week of launch. In a statement on Monday, Hiranandani Group said it has launched a new housing project 'Empress Hill' at 'Hiranandani Garden' township in Powai. The company will develop a total of 5 lakh square feet area in phases. In the first phase, the company on October 8 launched 3.3 lakh square feet area comprising 330 units across three residential towers. The total construction cost to develop the first phase is estimated at around Rs 2,000 crore, the company said. Hiranandani Group said it has already sold 150 units, worth Rs 1,100 crore, within the first week of the launch of this project. The average size of apartments ranges from 1,100 square feet to 1,600 square feet and the price range is Rs 6 crore to Rs 10 crore. "The COVID pandemic quandary and .

Amid lower demand, new supply of affordable homes dipping in India: Anarock

On the other hand, the supply of luxury homes is rising as developers are focusing on earning higher margins and profits

Demand for luxury homes overtakes affordable ones for first time in India

The number of homes sold in India in July-September quarter this year touched a six-year-high: Knight Frank

Luxury homes see highest average price appreciation since 2018: Anarock

Hyderabad recorded the highest jump of 42 per cent in the average price of luxury homes between 2018 and the first six months of 2023

Galaxy Group, Sawasdee to invest Rs 1,000 cr to build luxury flats in Delhi

Realty firm Galaxy group and Sawasdee group will invest more than Rs 1,000 crore to develop a luxury project at Lodhi Road in the national capital. Noida-based Galaxy group has completed two commercial (office-cum-retail) projects in Greater Noida (West), known as Noida Extension, and is developing many projects in Delhi-NCR. "We have been allotted three plots totalling 43,345 square metres at Lodhi Road by Rail Land Development Authority (RLDA)," Pradeep Kumar Agrawalla, chairman of both Galaxy and Sawasdee groups, told reporters. Out of the total land parcels, he said the company would get around 16,000 square metre to develop residential units for sale purpose, while it will have to develop 278 staff quarters for the RLDA on about 27,000 square metres land. He said the company would develop around 5 lakh square feet of residential properties for sale purpose. "We have to pay around Rs 350 crore to RLDA in instalments," Agrawalla said. He said it would take at least a year to t

Sales of luxury homes in India rose 130% in January-June period: CBRE

The surge in demand was primarily driven by a growing preference for enhanced amenities and more spacious living areas

Super luxury flat sales up 50% in Mumbai , Gurgaon home sells for Rs 50 cr

Increased demand from the Non-Resident Indian segment due to the strengthening of the US Dollar

Sales of luxury homes priced above Rs 10 cr in Mumbai up 49%: Report

Sales of residential properties, priced above Rs 10 crore, in Mumbai's primary and resale market rose 49 per cent in value terms to Rs 11,400 crore during the January-June period on strong demand, according to India Sotheby's International Realty and CRE Matrix report. During the year-ago period, the sales of luxury homes in Mumbai stood at Rs 7,660 crore. Real estate consultant India Sotheby's International Realty, and data analytic firm CRE Matrix on Monday released a report on Mumbai luxury housing market for H1 CY'23. The report noted that the demand for luxury apartments in the financial capital was mainly driven by industrialists, Bollywood celebrities and high-salaried employees. As per the data, sales of luxury housing in the primary (fresh launch) market surged by 83 per cent to Rs 8,817 crore during January-June period, as compared to Rs 4,816 crore in the same period of the previous year. However, the sales in the secondary (re-sale) market were down 9 per cent to Rs 2,

Gulshan Group to invest Rs 190 crore to develop luxury housing project

Realty firm Gulshan Group on Friday said it will invest Rs 190 crore to develop a luxury housing project in Noida Extension, Uttar Pradesh. The company will develop 92 units in this 1.3-acre project named 'Gulshan Avante' located in Noida Extension (Greater Noida West). The company is selling 4-BHK fully furnished apartments, each of 3,200 square feet size, at an all inclusive price of Rs 3.52 crore. "We have already sold 44 apartments in this project. There is a great demand from businessmen and high salaried employees from this region," Gulshan Group Director Yukti Nagpal told reporters. Nagpal said the estimated project cost is Rs 190 crore, which is being funded through internal accruals. "We expect sales realisation of approximately Rs 325 crore in this project,she said. Deepak Kapoor, Director of Gulshan Group, said the company will deliver this project in the next three years. "The demand for luxury apartments has gone up significantly after the COVID-19 pandemic," Kapoo

Godrej Properties wins Gurugram luxury projects, sees $380 mn in revenue

The deal comes amid a boom for luxury housing in India, with home buyers preferring spacious apartments with amenities like concierge services and spas

Max Estates sells properties of more than Rs 1,800 cr in luxury housing

Max Ventures and Industries Ltd's (MaxVIL) real estate arm Max Estates has sold properties worth Rs 1,800 crore in its luxury housing project at Noida, Uttar Pradesh. Max Estates has "achieved pre-formal launch sales of over Rs 1,800 crores for its first luxury residential project, Estate 128, located in Sector 128, Noida", MaxVIL said in a regulatory filing. The project is spread over 10 acres, with three high-rise towers having 201 units. The company did not disclose the number of units sold and at what price. Max Estates will start construction of the project in this quarter and will achieve completion in 48-60 months. Established in 2016, Max Estates is a wholly-owned subsidiary of MaxVIL. It has completed two commercial projects in Delhi-NCR and is developing a third project Max Square.

Unsold inventory of homes priced above Rs 2.5 cr down, says Anarock

The number of unsold luxury homes fell the sharpest, 24%, in the Mumbai Metropolitan region

Singapore ranked the most expensive city in the world for luxury living

Asia remained the most costly region for luxury living for the fourth straight year

Housing sales clocked a record of Rs 3.47 trillion in FY23: Anarock

The Mumbai Metropolitan Region (MMR) saw the highest market share in terms of both value and volume in FY23

Luxury housing sales in Indian cities surge 151% in Q1 2023: Report

Delhi-NCR, Mumbai, Hyderabad, Pune and Kolkata lead in such property transactions

Luxury segment housing sales up by 151%, Delhi-NCR leads with 216% growth

The post-pandemic rise in ownership of luxury housing is believed to be a result of a changed mindset of the homebuyers

Avighna Group to invest Rs 1,000 crore to develop towers in Mumbai

The two projects will be funded through internal accruals, without seeking any external borrowings or institutional funding, the company said in a statement

HNIs to drive surge in demand for luxury housing in Delhi NCR in 2023

The luxury sector is over-indexed, with homes priced at Rs 2-3.5 crore growing at a faster rate

Luxury housing fuelling growth in Indian realty market, say experts

Luxury homes are mostly located in upscale neighbourhoods and provide facilities like expansive decks, project amenities like swimming pools, spacious parking and terrace gardens

DLF's luxury high-rise witnesses pre-launch sales of more than Rs 8,000 cr

Real estate major DLF has witnessed a record breaking pre-formal launch sales of more than Rs 8,000 crores for its luxury high-rise ;The Arbour' project in just 3 days