ahmedabad the taste for luxury and a lavish lifestyle is only increasing for the people of gujarat in 2022 not just luxury cars were in high demand but even lavish homes were much soughtafter according to gujarat real estate regulatory authority gujrera the number of residential units costing above rs 1 crore and were up for sale went up by 73 from 8213 in 2022 against 4735 units in 2021 signalling a rising appetite for luxurythis was the highest number of highend apartments and homes constructed over the past five years according to gujrera industry experts attribute the rise in demand to the rising demand for bigger houses and apartments post coviddevelopers also attributed the rise in demand to an increase in real estate prices due to inflation in construction raw material costs and rise in land prices residential real estate costs have also increased by 20 this has pushed a small section of inventory to above rs 1 crore at the same time aspiration and affordability have also increased over a period of time which is fuelling demand for bigger better homes the hike in interest rates hasnt quite impacted the luxury segment said shekhar patel presidentelect credainationalresidential real estate witnessed high demand after the covid lockdown as peoples quest for upgrading to a better lifestyle increased as a result people moved to bigger apartments driving the demand for three four and fivebedroom apartments and homes to meet the growing demand gujarat saw the launch of 13275 residential units costing above rs 1 crore since 2021 against 10621 units launched between 2018 and 2020 said tejas joshi president credai ahmedabadgihedas the appetite for luxury and comfort increased projects with clubclass amenities such as swimming pool gym childrens park dedicated walking track gazebos and minitheatre among others have gone up ahmedabad alone commands 50 of the inventory of such highend apartments across gujarat with increasing disposable incomes rising influx of multinational corporatio ns into gujarat along with rising entrepreneurship the preference of customers here for elevated luxury has increased said tejas joshi president credai ahmedabadgihedgujrera data suggests that the share of highend units in total project launchesrose to 116 in 2022 against an average of 65 over the preceding five years some 1475 projects were launched i n 2022 of which 171 projects housed units cost above rs 1 crorethe number of units per project in the highend segment have also increased to an average of 48 units per project against 21 units per project in 2021aofficial of the amc said one of the key factors that drives the buying decision of people is an adequate parking space to accommodate two or three vehicles besides their quest for luxury bungalow schemes with units that cost above rs 3 crore are also booked soon after their launch and people tend to buy these homes to stay rather than for investment p urposes