Luxury housing fuelling growth in Indian realty market, say experts

Affordable housing, which remained the buyers' top choice, has lost its spark in recent times among the millennials

Luxury housing in India has acquired a strong foothold owing to rising disposable incomes, hiring, tax benefits, tech savviness, and a desire for a rich lifestyle.

The demand for such properties surged also because high net worth individuals (HNIs) and non-resident Indians (NRIs) have turned to investing and buying luxury homes by capitalising on tax benefits, stable property rates for the long tenure, initially a lower interest-rate regime, and currency-depreciation benefits, experts say. With favourable currency-exchange rates and reforms, even young NRIs are looking to buy luxury homes.

Realty experts say the millennial generation is moving away from investing in