Nannies On Call, Spas: India Sees "Mad Rush" For Luxury Housing

DLF sold a $1 billion upmarket residential project in 72 hours while rival Godrej Properties is offering $3 million apartments to clients selected by invitation, two off-plan sales that are signalling a revival in luxury housing.

DLF sold a $1 billion upmarket residential project in 72 hours while rival Godrej Properties is offering $3 million apartments to clients selected by invitation, two off-plan sales that are signalling a revival in luxury housing.

Property developers say spacey high-price apartments that come with add-ons like concierge services, spas, multi-level parking, large green open spaces and a heated pool have become the rage. There are no such amenities in the individual houses and old apartment blocks that dominate India's cramped and crowded cities.

Many people want to upgrade their homes after the Covid-19 pandemic confined them indoors, industry executives say. Working from home has also led to a demand for larger apartments, supported by rising incomes and India's growing number of nouveau riche.

DLF's Arbour project in Gurugram near New Delhi attracted more than 3,000 applications for 1,137 apartments priced at $869,000 each, extremely high prices for the area. The booking centre was besieged by people queuing to buy homes during the project launch weekend in February.