NEW DELHI: Demand and sales of luxury bungalows are on the rise due to the emergence of new rich people in the country, data suggests.
On the one hand, construction company DLF sells houses worth $1 billion in just 5 days. Godrej Properties, on the other hand, has offered $3 million worth of residences to a select number of clients.
Also read..Rice price may increase by Rs.10 per kg!
Both these reports quote the same thing. This means that the demand for luxury bungalows has increased.
This means that a luxury bungalow is not just a structure, but also includes spas, multi-storey parking, lush green spaces, and a heated swimming pool. Many services are also readily available on call. Till now private and old residences do not have all such facilities. Not only that but it is also not possible in major and close cities of the country.
Read this too.. 10 days left.. You can see entire Chennai from one place
Owners of construction companies say that the reason for the increase in the demand for luxury bungalows is the Corona crisis. People who are forced to work from home want to build their house into a luxury bungalow. Newly-rich people with good salaries think that the new home they buy should have all the amenities.
Last February, DLF launched apartments in Gurugram worth Rs 7 crore each. 1,137 flats, for which about three thousand people had applied. It is noteworthy that such expensive apartments have never been built in this area before, and people were waiting in long queues for these apartments, as seen in ration shops.
Never heard or seen stories of people waiting in long queues for luxury bungalows like this before.
The average value of properties registered in Mumbai last February alone was Rs 1.9 crore. This is 65 percent higher than the average value of properties recorded in February 2022.
Although the economy is slowly recovering after 2019, such information suggests that a major revolution is currently underway in the construction industry. That is, if nearly 20 thousand luxury bungalows were sold in 2019, it is 66 thousand in 2022 alone.
Read this too..Apada! Holidays are coming for the people of Korukuppet!!
Builders predict that luxury bungalows with more amenities will sell out very quickly and will double in value as additional services are added.
People who are already living in a flat also want to buy or rent flats with good amenities. Thus the demand for luxury bungalows is increasing in every way.
A celebration for luxury residences, data shows that sales of luxury cars also rose last year. Along with cars, sales of high-end watches and handbags are also rising significantly.
To cope with the demand, construction companies are also running several luxury events. 3D videos are shown at star hotels to introduce houses and meet-and-greets with food at star hotels for document verification programs are also wooing customers.
All this is considered as partharga scenes in construction companies in the past. According to informed sources, the number of callers for double-digit flats is three-digit and the entire flats are sold within a few hours and the construction companies are reaping the benefits.