photo credit: nancyarora2020
Gated homes appear ever-popular with Indian real estate buyers, as a developer reports considerable interest in a scheme near New Delhi.
Jaiprakash Associates is seeing strong attention for Wish Town Klassic, at Jaypee Greens, Noida.
The township is one of a series of luxury homes schemes being developed by the firm, with all apparently bucking an emerging trend towards more modest homes.
According to the Economic Times, the group is pushing on with a number of upmarket real estate schemes despite a general slowdown in the market.
The paper says the group is also implementing
“a number of luxurious residential projects like Pavilion Court, Pavilion Heights”
all of which involve high-specification homes.
Many real estate firms are following a trend which developed in the UK, with owners looking to rent out homes instead of sell in the slowing market.
The Times adds Atul Khanna of brokerage firm Khanna Properties said:
“We are depending on the rental market to keep our business going.”
Many middle-class families have ended up renting instead of buying thanks to a proliferation of more luxurious homes.
A squeeze on lending and high interest rates has also hit the Indian real estate market.
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