Backed by NRI demand, some realty firms stick to luxury projects

In 2017, most developers refrained from launching projects and focused on selling existing stock. Photo: Aniruddha Chowdhury/Mint

In 2017, most developers refrained from launching projects and focused on selling existing stock. Photo: Aniruddha Chowdhury/Mint

In the middle of a real estate slowdown when most builders have turned to affordable housing projects, some continue to bet on luxury homes, backed by demand from ultra-rich buyers and non-resident Indians (NRI). 

A handful of established, well-capitalized developers in Mumbai, the National Capital Region (NCR), Bengaluru and Pune are focusing on such projects, while the majority stick to mid-income or affordable homes. 

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Credit: livemint.com