Despite plunging sales, demand for luxe homes booming

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SummaryDriven by new offerings, greater influx of NRIs and changing lifestyles, the demand for luxury and ultra-luxury homes with a price-tag of up to Rs 1-20 crore, or even more in some cases, is again making a comeback in the metros.

Disney Consumer Products to launch Disney Inspired Homes in its Goregaon project, Lodha has partnered with Giorgio Armani to design the apartments and villas in its ambitious project 'World One' touted as the world's tallest residential tower.

"We have been focusing only on luxury homes and have seen a growing demand for it. We recently launched our new project in Goregaon where the apartments are priced between Rs 2 crore and Rs 5 crore. We have already been pre-sales here. This shows there is demand for luxury housing," Sunteck Realty chairman and managing director Kamal Khetan said.

Developers are also increasingly adding lifestyle amenities such as golf greens, schools, hypermarts, jogging tracks, independent swimming pools, complete home automation, modern clubs with exclusive members' lounges, spas, Jacuzzis, concierge desks and gyms.

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