Property developers say spacey high-price apartments that come with add-ons like concierge services, spas, multi-level parking, large green open spaces and a heated pool have become the rage.
The rupee broke out of its narrow trading range last week to finish nearly 1% higher at 81.9650 per dollar as foreign investors returned to Indian equities. It was the local currency's best week since the week ended Jan. 13.
Led by billionaire Gautam Adani, the group's seven listed companies bearing his name have together lost about $120 billion in market value since a Jan. 24 report by Hindenburg Research alleged improper use of offshore tax havens and stock manipulation, and flagged concerns over high debt.
Inflation in January spiked to 27% year-on-year, the highest in more than a decade, and the government only has enough foreign reserves to pay for just over three weeks of imports.