Geetu Vaid| The Tribune
Affordable housing is and will remain the catchword of the Indian realty sector, but it is not the only segment that is generating demand at present. The luxury segment, too, has seen an upswing in the wake of the revival of the sector. If one goes by the number of projects that have been launched in this segment over the past few months, it becomes amply clear that the luxury segment is brimming with possibilities.
Luxury housing emerged as an attractive segment in 2006-2007 as dozens of projects aimed at India’s affluent were launched. The global economic downturn, however, arrested the trend to some extent in 2008 and 2009, and the focus shifted to affordable housing. But with the Indian GDP expected to clock 7-8 per cent growth in 2010-11, and probable double digit growth starting 2012, India seems to be ready for the next wave of wealth creation, especially in Tier I cities. The developer community senses this and has launched more luxury projects in the recent past”, says Abhishek Karan Gupta, head of research and real estate intelligence service, Jones Lang LaSalle Meghraj. Read more
IREO Victory Valley is included as one of the new luxury projects in the Gurgaon region. For more information visit here
IREO: India's leading real estate developer 