Developers shift luxury real estate focus to Tier 2 & 3 cities in India due to growing demand.
Developers are shifting focus to Tier 2 & 3 cities in India for luxury real estate, as there's a growing appetite for premium living experiences beyond the metros. Mukul Bansal, Managing Director of Motiaz, sees the potential in Tier 2 & 3 cities as people there seek a lifestyle that mirrors their achievements. JLL India data shows a 51% increase in luxury homes sales value, reaching Rs 4,319 crore in 2023, with Mumbai witnessing most transactions.
March 26, 2024
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