At 2.5 million rupees (around $39,000) just for the downpayment on the smallest and cheapest flat, that is well beyond most Indians. Nonetheless, the development has already clocked up sales worth nearly $80 million, according to a statement released on Monday.
"Despite the sluggishness of the luxury residential market in Delhi NCR (National Capital Region) and in India, the project has smashed all sales records," said the statement. Around 75 people have already stumped up and Indian developer Tribeca expects that number to increase to 100 before the promotion deadline expires on Thursday, a staff member told AFP on condition of anonymity.
"The meeting is a token of gratitude to the clients for showing tremendous faith in the upcoming project," said the Tribeca employee. The 47-storey towers will comprise 250 homes and are expected to be completed by 2023, with price ranging from 55-110 million rupees ($850,000-$1.7 million).