Realtors hold on to luxury home prices

NEW DELHI: In spite of a decline in demand for luxury properties, developers such as Unitech, Jaypee, Omaxe and Lodha Group are holding on to prices.

In Noida, prices of luxury apartments at Unitech Grande, Jaypee���s Wish Town and Omaxe���s Twin Tower have remained at Rs 7,600 per sq ft, Rs 5,600 per sq ft and Rs 5,000 per sq ft respectively. ���Selling luxury projects has become tougher but it is not a crippling dip, so we are not reducing prices,��� says R Karthik, senior VP (marketing), Lodha Group.

Raminder Grover, CEO, Homebay explains, ���Developers are not reducing rates of luxury projects because it will hit their brand value.���