Sensing this turnaround, a host of property developers including DLF, Unitech, Emaar MGF and Ansal API are gearing up to launch plush housing projects, where a single unit costs upwards of 2 crore, over the next six months.

"Now that the job market is looking up, consumers are once again regaining the confidence to put money in swank projects," said Shravan Gupta, executive vice chairman and managing director at Emaar MGF.

The Delhi-based property developer plans to launch around 2,000 upscale units over the next six months across cities such as Gurgaon, Hyderabad, Punjab, Bangalore and Kerala.

Unitech, the country's second-largest builder, who had focused on affordable housing space, too plans to launch a few luxury projects to target high-end home buyers. Unitech spokeswoman said it has a few projects in the works in the luxury housing segment located in the national capital region.

Luxury homes are targeted towards high net worth individuals and the price range of such apartments varies from city to city. While in metros such as Mumbai and Delhi, the cost of such high-end houses can begin from 2 crore, in tier-II cities they can be around 1 crore and above. Builders in this category focus on fully-embellished apartments , which can be further customised to the individual buyer's preferences.

Source: The Economics Times By Paramita Chatterjee Realty majors gung-ho on luxury homes again