MUMBAI (Commodity Online): India's real estate sector seems to be unhurt by the global economic crisis and generally weaker trends prevailing in the economy. A flat is Mumbai, the financial hub, was sold for 1.11 lakh per square feet, the highest deal in the country.
The number of construction companies in India offering luxury flats and villas is growing at a fast phase with the rising disposable income among upper middle class category. Indian buyers are no longer content with minimum requirements when it comes to living space and are willing to spend on premium facilities.
In India, flats and villas range between Rs 15 lakh to Rs 30 cr as per the size and location of the premises.
Major builders active in the construction side are Confident group, DLF and others.
According to Fitch Ratings' outlook for 2012 for real estates in India, the overall outlook of the sector is negative but improvement in demand, either due to a decrease in interest rates or the launch of new projects at affordable prices.
On BSE, DLF stocks traded up 2.51% to Rs 234.40 on 8th Febraury at 12:25 IST
