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India: Luxury real estate sees growth for third quarter

Posted on 03 January 2013

Luxury real estate, that remained muted in the first half of 2012, picked up demand third quarter on, according to consultants and analysts. The industry describes projects priced beyond Rs 5 crore in Delhi and the National Capital Region region as luxury, but the benchmark is Rs 10 crore for Mumbai.
Data from Propequity, a real estate advisory and consulting firm, shows a 68 per cent decline in the absorption of the luxury units in the first quarter of 2012, compared with the same quarter in 2011. In the second quarter, the rate of decline was 22 per cent, and was down to just three per cent in the third quarter………………………………………..Full Article: Source


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