2, 3 BHK Residential Apartments
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With demand for super luxury homes consistently high, one could be forgiven for wondering why more developers aren't focusing on this segment. However, the fact is that while such projects are certainly in high demand among NRIs, they are still targeted at an exclusive, niche clientele. The margin is high, but the volumes are small. Godrej Properties launches Godrej South Mumbai. It’s a luxury home designed with 2, 3 BHK homes.
In addition, the developer must be able to find the right raw materials and appliances, must understand the concept of luxury living on a very sophisticated level, have the right architects, contractors, and labor on hand, and obviously must have high capital. Super home projects like Godrej South Mumbai depend on the availability of small plots of land or redevelopment opportunities in high-profile areas.
The developer's costs per unit are not extremely high. Therefore, these projects are certainly a viable long-term business model for developers focused on large-scale branding and expansion. For most players, residential real estate in India is still a numbers game. Invest at Godrej South Mumbai. The bigger business potential lies in larger volumes where the developer has a better price arbitrage on the numbers game in terms of land and construction costs due to economies of scale and a much larger customer base. In other words, super home projects are best suited for developers who address not the market as a whole, but its micro-segments. India's luxury real estate segment emerging from a half-decade slumber is poised for a comeback, with real estate experts pointing to rising demand for luxury real estate in select parts of Mumbai at Godrej South Mumbai – a key destination for luxury and super-luxury real estate in India.
The phenomenon is called an offshoot of the luxury project by realtors, who said that people have experienced a psychological shift and discovered the importance of great living space at Godrej South Mumbai and thus moved to the next level of living comfort. The reason for the significant increase in interest in luxury real estate, according to a report is the rise in the number of NRIs in India.