Gulf News India Property Show: Ultra-luxury homes worth Dh1.5 million and above gain maximum traction

Gulf News India Property Show: Ultra-luxury homes worth Dh1.5 million and above gain maximum traction

Dubai: The Indian real estate sector has been witnessing a growing trend in the luxury housing space, exceeding industry expectations and gaining the interest of several high-net-worth individuals (HNIs) and non-resident Indians (NRIs) post-pandemic. And UAE-based Indian expatriates are among the most serious buyers of these ‘premium luxuries’ and ‘affordable luxury’ category homes in major cities across India. As per an industry study, a 40 per cent growth is expected in the sector’s revenue as demand for ultra-luxury homes priced above Rs5 crore has stirred the changing needs during the pandemic. Developers exhibiting at the India Property Show said they were able to garner several serious leads for properties displayed at the exhibition. The two-day event, which saw 60 developers showcasing more than 7,500 properties for NRIs, came to a successful close with participation from thousands of visitors on Sunday, December 11. Moreover, developers concluded at least 15 property bookings over the two days, said Inayath Sait, Chairman of Maxpo Exhibitions. He added that the range of properties exhibited includes land plots, mid to high-end apartments, and villas and bungalows. Homes by Puravankara Ltd., one of India’s largest real estate developers headquartered in Bengaluru, registered some serious interest from property