As the realty market is growing rapidly in India after the formation of the new central government. The luxury real estate market is also booming significantly in various parts of India. Rich and famous are hunting India's most exclusive villas, bungalows and studio houses and to tap this potential many luxury brands in property such as Sotheby; the international real estate giant are landing in India to offer big ticket properties to India's affluent class. They are offering properties in the price bracket of Rs. 15-200 crore. As India is a hot real-estate destination for foreign investors and the number of millionaires and billionaires are increasing with a rapid pace, not only in North and West India, but the southern and central India is also witnessing a rampant demand of exclusive and expensive properties. "Expansion into India was one of our core objectives for this year as northern India is one of the most exciting, beautiful and fastest-growing markets in the world, with a developing luxury real estate market," said Philip White, president and chief executive officer of Sotheby's International Realty Affiliates LLC, an arm of the auctioneer. Hot Deals
Technology is backing this growth and many real estate consultants are smartly serving the market through their online presence and active coverage in the social media. Among the prominent online real estate consultants one is Realtytree where one can find all types of properties in different parts of the country but specifically in the Delhi and National Capital Region, such as Faridabad, Gurgaon, Noida and Greater Noida. From luxury Villas in Rishikesh to high-end offices in Noida Extension and studio apartments at Noida Expressway to five-star offices spaces in the lush green Greater Noida, one can find the desired luxury properties on these real estate portals with much convenience and ease.
The growing demand of Indians for luxurious property is increasing day by day as the statistics witness their high appetite for investment in expensive properties. On an average, wealthy Indians invest 44% of their income in real estate, while the global average is only 24%, these figures exhibit tremendous opportunities for developers in the luxury real estate market of India. Forecasts say that by 2023, only the US, China and Russia will have more billionaires than India. Most wealthy Indians prefer to buy homes in cities rather than in the countryside. Estimates by real estate advisory firm Knight Frank suggest India is in sixth spot in the top 10 countries for billionaires as of 2013 with 60 billionaires.
