Unitech, Jaypee Greens to launch new projects in the segment. Villa and bungalow projects are back on the agenda of property developers as demand for premium homes picks up. Though villas were popular with the affluent during the boom years of 2004-07, the economic slowdown saw many premium projects put on hold due to diminishing demand.
Large developers such as Unitech, Parsvnath and Jaypee Greens, which had shifted focus to mid-income housing in the range of Rs 20 lakh to Rs 60 lakh to beat the slowdown, have all launched villa projects in the last two months to tap demand for such properties.
Unitech, the countrys second-largest property developer, which launched its luxury villas Alder Grove in Gurgaon last month, has already sold out all its 50 villas. Prices started from Rs 1.25 crore per villa.
More : business-standard.com
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