The Indian real estate market is looking up as the wealth of the rich is soaring. The Indian builders are hiring international designers to woo customers with ultra luxury residential projects. Jade Jagger, the daughter of Rolling Stones rocker Mick Jagger is the latest amongst the international designers set to design for a Mumbai luxury residential project. Lodha Developers Ltd., who have an upcoming project in the northeastern suburb of Goregaon have roped in Jagger to create residences.
The developers have highlighted the fact in their marketing brochures targeted at wealthy buyers. Jade has partnered with London based design firm Yoo Design Studio. John Hitchcox, the Chairman of the design firm is excited about the project as he sees India as a great opportunity. About the partnership with Jade Jagger he explained that it is now a mass celebrity world where people are looking for more and more identity.
The sale of property in the Indian market has fallen by almost 25 percent after the prices hit a record high in early 2010. The prices might not recover in a hurry as the banks have curbed credit to developers. But the long term prospects of the industry are bright and international players are making plans to bet an entry in the market. Yoo, which is a venture between property entrepreneur Hitchcox and eponymous French designer Philippe Starck is working on a project in Pune as well. Donald Trump is also entering the Indian property market with a luxury residential tower in Mumbai.