And this is clearly established by the pace at which super luxury housing is being sold.

In a real estate market bitten by the inflation bug, it is the well heeled and NRIs who are driving property sales. This has to a large extent become instrumental in bringing stability to the market. Recent market research indicates that sales in the luxury segment have risen by almost 15-20 per cent.

This is largely due to the fact that NRIs and HNIs have the ability to remain invested for longer periods and do not depend on home loans to make their purchase. Besides, margins earned by way of sales of luxury properties far exceed those in the mid and lower segment. Real estate experts therefore say that de velopers should focus on the luxury segment to set the cash registers ringing.

A study by real estate consultancy Asipac in eight cities of prominence indicates that the average price in the luxury segment has increased by 5 to 10 per cent as compared to the dip in prices of mid-segment apartments.

It is therefore, not surprising that real estate developers are now going all out to woo this segment of buyers by focusing on quality and premium housing characterised by noiseless surroundings, gyms, themed landscaped gardens, water bodies, meditation centres and energy efficient features. Some developers have launched superluxury residential projects in and around metros while others have set their townships amid lush greenery at city outskirts.

Indiabulls Real Estate Limited has launched a super luxury project titled "Castlewood" in a premier South Delhi location surrounded by 500 acres of lush green surroundings. Nitesh Kumar, President Marketing, IBREL says, "The apartments are intelligently designed keeping in mind factors such as aesthetics and comfort. The company has also introduced the concept of bio-walls for the first time in the country."