Realtors Eyeing International Celebs to Push Projects

Nirmal Lifestyle, a Mumbai-based realtor has partnered with U.S Open, the tennis event to build sports lifestyle apartments for the first time in India. This first of a kind project has included a state-of-the-art fitness centre on the 46th floor.

According to a spokesperson of Cushman & Wakefield, with the growth in market, the luxury housing will come up with new offerings and services.  Moreover, the real estate industry is witnessing demand in luxury and ultra-luxury property due to the government’s support and incorporation of innovative concept by developers. Besides, the growth in this segment is likely to increase over the coming years and the projects will match international standards. Presently, places like Mumbai and Pune is following the trend of branded homes with international tie up which will be picked up by other cities very soon, added the spokesperson.

However, residential projects endorsed by celebrities not just grab home buyers attention but also adds credibility to the projects, said Anshuman Magazine, MD of CB Richard Ellis (South Asia). The real estate market scenario has changed a lot over a decade. But now, there are more number of developers who are defining luxury at its best. Besides, with the growing number of high net worth individuals (HNIs), developers are coming up with boutique properties in the ultra-luxury segment.

High prices are quoted for these luxury residential projects as they are promoted by celebrities. For instance, starting price of such project is about 3 crore.