Despite slowdown developers still bet on high-end residential project

Q: The real estate market may be going through a rough patch, but developers still seem to be betting big on the high-end residential projects. In the first nine months of this calendar year, the number of launches in the high-end residential segment has grown by 142 per cent as compared to the corresponding period last year, says a note by real estate consultancy Cushman & Wakefield (C&W). The number of new launches in the high-end segment stood at 24,032 between January and September as against 9,940 last year.

The stupendous rise in new launches in this segment is happening at a time when the overall launch of new inventory across all housing segments remains muted. As per C&W, in January-to-September period, residential units launched in all segments put together - affordable, mid-market, high end and luxury - was a meagre five per cent. According to market experts, low demand is forcing developers to go slow on introducing new projects.