thecore.in-Small Developers Face The Heat Amid India’s Luxury Real Estate Boom
On an early March morning, Jamshed Ahmed, a builder and co-owner of Gurgaon-based J3 Design Expansion, gears up to visit his latest project. The housing development project in Gurugram has 10 flats valued at around Rs 1 crore each, but Ahmed, who has been in the construction and real estate industry since 2010, is worried about selling them.
Ahmed has been primarily taking on entry-level or affordable housing projects with his father, who started the company in 1984 — a period that saw a massive real estate boom following India's economic liberalisation.
