Villas in demand even as real estate faces downturn

Premium and luxury segments in India have witnessed an unprecedented rise in both size and significance in recent years. Developers are increasingly launching and developing villas and luxury houses owing to higher demand. Evolving lifestyle and increased aspirations are the major factors leading to the redefining of the Villa Living segment in India. With the increase in dispensable income and affluent lifestyle desired by young professionals, there has been a 50 per cent growth in demand for villa living in some parts of the country in the current year as compared to the previous year, as per industry estimates. Even when the overall industry faced a downturn in the recent past, the luxury segment continued to record good sales. Developers of luxury projects were undeterred and they continued to launch new projects.