Sell­ing Like Hot Idlis

MDs and CEOs fuel bur­geon­ing de­mand in lux­ury flats and vil­las, say real­tors

India Today - - REAL ESTATE - by S. Senthil Kumar

When JK Foun­da­tion an­nounced com­ple­tion of Phase- I of their pro­ject at Navalur, Old Ma­ha­balipu­ram Road, by De­cem­ber 2012, 150 vil­las of 2,500 sq ft, at Rs 1 crore each, were sold out in three days. “Even though the Nifty slid, there hasn’t been a fall in the sale of pre­mium homes,” says J. Jayakr­ish­nan, MD, JK Foun­da­tion. “MDS and CEOS who are our clien­tele still have funds to spare for lux­ury homes,” he says.

But the stag­na­tion in the IT in­dus­try means lux­ury homes aren’t sell­ing fast enough. Un­like in the past, the en­try of big real- es­tate play­ers has led to su­per- size com­plexes host­ing thou­sands of flats, the big­gest growth area.

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