High-rise luxury real estate in Mumbai
India's high earners fuel demand for high-rise luxury
22 Oct, 2010, 10.53AM IST,AGENCIES
"The size of the market is very large. Mumbai can absorb between 30,000 to 40,000 homes in the one million dollar-plus category, each year."
At least 29 luxury projects have been launched in six leading cities -- New Delhi, Mumbai, Bangalore, Chennai, Kolkata and Pune -- since the end of the global slump of 2008.
"Demand is sustainable," said Shahid Balwa, chief executive of DB Realty.
The heart of Mumbai city, once a cotton mill hub, is seeing a rapid change in its skyline as more than 30 skyscrapers are mushrooming out of slumland in the city's most congested district.
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