“On an average, the second homes market is growing at a healthy rate of 10-12 per cent per annum,” he added.
The primary reason for the increased demand is the growth in economy, rise in high networth individuals (HNIs) and the steadily growing aspirational middle class.
“In absolute terms, the growth registered by the vacation home segment in year 2014 was 57 per cent over the year 2013,” Singh said.
Singh said: “All major developers are vying to get a slice of the pie with options priced from a few lakhs to a few crores being launched quite regularly to cater to different end-users and investors.”
We at PropGod have launched Sai Pratham weekend villas in Whitefield, Bangalore