Luxury realty market sizzles despite price surge
In Mumbai, where space is perhaps the costliest anywhere in the world, luxury apartments worth R10,000 crore have been sold
Jan 19, 2015
Source : The New Indian Express


Mumbai: Prices aren’t holding back  anyone who wants to own an upmarket condominium.
In Mumbai, where space is perhaps the costliest anywhere in the world, luxury apartments worth R10,000 crore have been sold in the ten months to October. That’s across nearly 500 units costing an average of R20 crore, data from PropEquity shows.

A luxury residence could cost as much as R100 crore in Mumbai and more posh locations in New Delhi but the bulk of the transactions, real estate watchers say, are in the range of R20-25 crore.


The tab could be slightly smaller in Bengaluru, Hyderabad, Pune, Chennai or Kolkata where a luxury home can be bought for even R5 crore though really nice places can set you back by R15 crore.


The action in the luxury space hasn’t been restricted to Mumbai. In the NCR, for instance, 368 apartments costing between R4-40 crore were sold between January and VGOctober while in Bengaluru 302 of the 311 units  launched were sold.


Latest Realty News

Jan 19, 2015
NOIDA: In a bid to protect buyers and curb rising incidents of property fraud in Noida and Greater Noida, the UP government plans to make verification of a property mandatory before its registration
Jan 19, 2015
GREATER NOIDA: The Greater Noida Authority has issued notices to 32 housing societies
Jan 19, 2015
GREATER NOIDA: Close to 100 buyers gathered at Paramount's Golfforeste housing society in Greater Noida in protest against ?the delay in completion of their flats
Jan 19, 2015
Pune: The Pune Municipal Corporation (PMC) is all set to launch a 'green rating' system for new constructions in the city
Jan 19, 2015
Bengaluru: An observation in the Comptroller and Auditor General of India (CAG) report of 2010 that the state government should collect rentals from the Karnataka State Cricket Association (KSCA) and Bangalore Golf Club (BGC) for allowing them to use prime land
Jan 19, 2015
Mumbai: Goldman Sachs, Morgan Stanley and JPMorgan, the three bulge-bracket banking groups of the US, are likely to get active in Indian real estate after a long gap
Jan 19, 2015
New Delhi: Backed by funding from Rupert Murdoch-led News Corp, realty portal PropTiger has forayed into secondary market property transactions
Jan 19, 2015
Kolkata: Shib Narayan Das, director of Saradha Realty, was remanded in CBI custody for four days by a city court in connection with the multi-crore chit fund scam
Jan 19, 2015
New Delhi: The Competition Commission is likely to pass its ruling in next two to three weeks on the alleged unfair business ways in the realty space
Jan 19, 2015
Mumbai: DB Realty’s management says the company plans to launch projects with a total saleable area of six million sq. ft in the next one year

Latest Realty News Of State

Realty Talk's