Mumbai's developers of luxury apartments are setting new records, mostly targeting Non Resident Indians (NRIs). Currently most developers are looking for residential projects with a cost of more than 150,000 euros: Kalpataru Developers is carrying out a project (Kalpataru Aura) in Ghatkopar with a cost per housing 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 sale price of around 460,000 euros. Lodha Developers has instead created a 42-storey building (Lodha Imperia) in Bhandup with apartments priced around 150,000 euros.
Developers like Lodha and Kalpataru have launched high-end projects for brand positioning reasons. According to Pranay Vakil, Chairman of Knight Frank (real estate consultancy), 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: “it makes no sense to build studios or one-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, thanks to the three offices in Pne, Bangalore and New Delhi, we can help you exploit this opportunity and create your competitive advantage. The road has already been traced: start now and let the octagona professionals follow you. Contact us by clicking the button below: we will help you find the best solution for your needs.
Source: The Indian Express
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