To kick off with INR 2,000 Crores of prime real estate in the heart of Worli
Mumbai, December 19, 2022: On track with its recently announced expansion plans, Xanadu has launched its luxury vertical – which will cater to the rising demand of developers and financial institutions to accelerate the growth of their Luxury RE portfolios. Raheja Universal’s flagship project, Raheja Imperia II, in Worli will be the first of their offerings, with three more lined up in the near future.
Xanadu’s insights suggest significant growth in the segment as India has seen exponential growth in the number of USD millionaires in the past 2-3 years. With the Indian economy proliferating and vying for a spot amongst the top 4 economies in the coming few years, the number of millionaires in India is expected to double by 2026. Such a category of consumers, along with the larger Indian growth story, is bound to reflect favourably in the rapid increase of demand in the luxury home segment. There is also a boom in NRI investors across the industry, with INR exchange rates touching their lowest recently, creating a currency windfall and providing new avenues to invest in. Despite this upcoming positive trend, the largest inventory overhang still exists in the luxury segment of real estate.
Speaking about Xanadu’s Luxury vertical launch, Vikas Chaturvedi (CEO, Xanadu Group) said, “At Xanadu, we have the largest talent pool that has rich experience in the luxury segment of real estate, and it was only a matter of time before we entered this segment. We have observed that value erosion and Government initiatives such as SDR waivers gave some velocity to this segment during COVID times. Still, such tactics can only provide temporary bursts of sales and are not sustainable as developers cannot continue this. Healthy business growth can only be delivered by a superior consumer experience, a well-rounded product, brand alliances and an uncompromising focus on evolving consumer needs. This is precisely what Xanadu’s Luxury vertical plans to help developers and financial institutions achieve disproportionate growth with unique solutions that bring healthy growth without value erosion. We are very happy to collaborate with Raheja Universal for their flagship project in Worli. Raheja Universal carries legacy and trust and is renowned for their luxury projects. This legacy, combined with our expertise in marketing and sales, shall certainly create a successful partnership for both organisations.”
Speaking on this occasion, Ekta Rahul Raheja said, “We experienced Xanadu’s capabilities and expertise first-hand during our Raheja Exotica (Destination Versova Island) project launch. Given their overall market and luxury segment understanding, we have decided to collaborate with Xanadu for our flagship project in Worli. We see a natural fit and are sure that they will build on the brand appeal of this project. We congratulate Xanadu on the launch of their new Luxury vertical and look forward to closely working with their teams and leadership.”
Corporate Comm India (CCI Newswire)
