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News Articles Property and Estate Agents Hyderabad's Richie rich beat the meltdown
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Hyderabad's Richie rich beat the meltdown |
| Written by varma | |
| Monday, 03 November 2008 | |
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Despite an economic slowdown, the super rich in Hyderabad are buying homes as expensive as Rs 15 crore.In the city of the Nizams, a privileged few live life kingsize. So despite an economic slowdown, job layoffs and a crisis of confidence, ultra luxury homes that cost between Rs 12 and 15 crore each, are finding ready takers. Despite an economic slowdown, the super rich in Hyderabad are buying homes as expensive as Rs 15 crore.In the city of the Nizams, a privileged few live life kingsize. So despite an economic slowdown, job layoffs and a crisis of confidence, ultra luxury homes that cost between Rs 12 and 15 crore each, are finding ready takers. Among the buyers are not just industrialists and IT czars but many traditionally rich people as well like a tobacco farmer from coastal Andhra and another person who runs a chain of educational institutions."Everyone gets taken care of in the boom period. So during the boom period, these people actually feel left out. They realise that the period of slowdown of economic activity is when they are kings. So they get all the attention. And they are really liking it," said Amit Bagaria, a real estate consultant. The first of such super luxury projects coming up in Hyderabad is an exclusive gated community of 31 homes, each with a built-up area of 11,800 square feet.Its USP -- it will have no roads and it is the first of its kind car-free locality."The cars have been put below the podium level and on the podium level is a series of homes that do not have fences. So it is a beautiful community space," said Andrew Maynard, an architect.Experts say even though the real estate sector is hit badly by the economic slowdown, the ultra premium segment is bucking the trend........... For Latest Real Estate News and Articles: http://www.maaproperties.com/Pages/ModuleContent.aspx?Module=News At Maa Properties, we have in-depth knowledge of property markets, extensive experience, specialized skills and resources necessary to provide an entire range of reliable and responsive property management services. No matter how far away you are currently located, our online services enable you to take charge of things and efficiently handle all property-related transactions back home. We would like to take the opportunity to welcome all the community members living world wide to our real estate portal.(NRI) For More Information about Real Estate Hyderabad, India visit: http://www.maaproperties.com/ |
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