Mumbai: focus on luxury apartments

Mumbai's luxury apartment developers are reaching new highs, targeting mostly Non Resident Indians (NRIs). Currently, most developers are looking for residential projects with a cost above 150,000 euros: Kalpataru Developers is building a project (Kalpataru Aura) in Ghatkopar with a cost per unit ranging from 190,000 to 230,000 euros. Another project of the company, known as Kalpataru Pinnacle, involves the construction of 80 exclusive apartments in Malad, each with a selling price around 460,000 euros. Lodha Developers, on the other hand, has created a 42-story building (Lodha Imperia) in Bhandup with apartments priced around 150,000 euros.

Developers such as Lodha and Kalpataru have launched high-end projects for brand positioning reasons.According to Pranay Vakil, president of Knight Frank (a real estate consulting firm), the economy is recovering and, after almost a year of crisis, demand has exploded the market. Pravin Doshi, President of the Maharashtra Chamber of Housing Industry, “There is no point in building studio or two-bedroom apartments. The best option to recover costs and make a profit is to build relatively large apartments, especially when there is good demand.”.

Luxury apartments in Mumbai can be the new opportunity for Italian companies operating in the luxury sector to increase their profits. With our direct presence in the country through our three offices in Pne, Bangalore and New Delhi, we can help you take advantage of this opportunity and create your competitive advantage. The road is already mapped out: start now and get followed by the professionals at octagona. Contact us by clicking the button further down: we will help you find the best solution for your needs.

Source: The Indian Express

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