Mumbai developers seem to have given up on housing for the middle-class. If you thought the realty revival in the city would come through middle-level affordable housing, you cannot be more off the mark. Most new launches are looking at the Rs1-crore residential houses project.
Take Kalpataru developers — it is building a 750-unit project — Kalpataru Aura — in Ghatkopar. The project launched a couple of months ago has properties in the price range of Rsl.25 crore to Rsl.50 crore. Its Malad project, Kalpataru Pinnacle, will have 80 exclusive apartments, each priced at around Rs3 crore. Lodha Developers has launched a 42-storey apartment building, Lodha Imperia, at Bhandup, with flat prices inching towards the Rs1-crore mark. The target audience of these builders is apparently NRIs from Europe and the US.
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