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.

 

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