Rising income levels in India is creating more billionaires every year and this has a direct impact on consumption patterns as well. A survey suggests that there are 1.6 million luxury households in India and each of these luxury household earns about Rs 45 lakh per year and they spend about Rs 4 lakh per year on luxury and 'very premium' goods and services. This development has created a spur in the housing demand as well.Many developers are targeting High Net-worth Individuals (HNIs) to sell their premium properties. Magicbricks.com is organizing one such fair to bring developers of luxury properties together. Big developers like Emaar MGF, Unitech, Ambience, Parsvnath, Supertech and Assotech will display their property worth rupees one crore and upwards. The fair is being held in Hotel Shangri-la, New Delhi on Match 1 and March 2, 2008.
The response to this fair will determine how many of these luxe-living projects find spot takers among HNIs.
1 comment:
yes and no.
yes, the luxury segment is growing and many builders are planning such projects too across the country...
no, the segment does not come to an exhibition and buy such property...
higher the luxe factor the more exclusive it becomes...if its in an exhibition it loses its luxe factor....
in fact most of the luxury projects are sold 'by invitation' and through internal contacts and databases....
good for the media to make some money....
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