As living and working patterns continue to evolve, a lot of people in the mass affluent segment prefer greater flexibility in their living spaces that not only makes them more comfortable, but also more functional in their day-to-day life. A slick and premium look, availability of high-end amenities and latest technology, and a perfect view of green spaces and open landscapes have become common asks for those who can afford to pay for them. To cater to this demand—though only among a select group of clientele—developers are now coming up with more luxury home projects. Says Vivek Rathi, director, research, Knight Frank India, a real estate consultancy firm: “The segment above Rs 5 crore can be referred to as luxury housing, and it is currently witnessing increased activity in terms of both sales and launches. Mumbai, Delhi NCR and Bengaluru are among the key markets for such new projects.” Though there is palpable optimism and luxury projects promise a lot, being cautious is important in the Indian real estate market, given past experiences. What’s...