India’s Richie Rich are spending big.

Bangalore, Nov 14 (TruthDive) : India’s Richie Rich are spending big despite all concerns about Indian economy.

Lapping up high-end imported cars, luxury villas, apartments and lavish holidays abroad continue in full swing by the rich.

Mumbai, the financial capital is seeing some of the fastest real sector deals. Apartments costing Rs 30 crore launched in Bandra- Kurla complex were sold out within days. Lodha’s twin residential tower in central Mumbai with flats costing Rs 3-4 crores sold about 200 units.

High-end watches, jewellery, electronic goods and customized holiday packages are what is known as High Net Individual (HNI) spend. Importers are a happy lot and so are the manufacturers back home who are facing a sluggish demand for these products.

Mercedes Benz invited dealers in not only metros but also in tier 2 cities from where buyers are coming to metros to buy their cars. It sells Phantom model for Rs 4.5 cr and Ghost Salon for Rs 3 cr. All these cars are custom made. It expects to sell 180 cars in three years.

Aston Martin known as the Bond car costs Rs 2 crore and already 18 of them are sold and buyers are not from metros but even from Punjab. Made to order Rolls Royce, Lamborghini, Ferrari and Harley Davidson are in demand, say importers.

With the Euro-India trade treaty for free trade, the import duties will fall and cars and liquor from these countries would be available freely for affordable prices.

Tourism industry has never had it so good. Rising airfares due to weak rupee has not affected the HNIs’ holidaying.


Travel portals are having bookings for Europe even during the winter season from India. Australia tourism board runs commercials in Indian national channels at prime time and it is raking in high volume of Indian travellers.

Staying in castles in Europe and New Zealand is a big hit. Normal holiday package to South Africa is only Rs 1 lakh but the demand is for Rs 4 lakh customized package that gives hot air balloon rides and shark cage diving thrills.

Kotak Mahindra survey says that in five years, India will see fivefold increase of HNI. Many say the HNI are bullish about the nation’s future economy.


Source : truthdive.com