Mumbai: focus on luxury apartments

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

Promoters like Lodha and Kalpataru have launched high-end projects for brand positioning reasons. According to Pranay Vakil, Chairman of Knight Frank (a real estate consulting firm), the economy is in a recovery phase, and after almost a year of crisis, demand has caused the market to explode. Pravin Doshi, President of the Maharashtra Chamber of Housing Industry, said: “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 a new opportunity for Italian companies operating in the luxury sector to increase their profits. With our direct presence in the country, thanks to our three offices in Pune, Bangalore, and New Delhi, we can help you seize this opportunity and create your competitive advantage. The path is already laid out: start now and let Octagona's professionals guide 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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