New Delhi, Mar 5 (IANS): As the real estate sector emerges out of pandemic, the market for luxury smart homes and villas in India is thriving and demand has improved in the past three-four months, said Aditya Kushwaha, CEO & Director of Axis Ecorp.

He also noted that non-resident Indians (NRI) are looking forward to investing in the Indian real estate market.

"The market for luxury smart homes and villas is constantly thriving in the country. While in the year 2020, people were showing some resistance, but things have started getting better in the past three-four months," Kushwaha said.

He further noted that these properties can be rented out to homestays and tourism businesses, which is another booming market that promises an assured and stable source of income to investors.

Axis Ecorp recently announced the launch of its luxury smart service villa project, Axis Yog Villas, located in the Dodamarg taluka of North of Goa. The CEO noted that the company has witnessed "unprecedented interest" for the Axis Yog Villas.

"The project is pegged at the value of Rs 250 crore and we have set ourselves a target of garnering sales to the tunes of Rs 100 crores in the next six months. Given the response we are getting, it will not be surprising if we achieve this target sooner."

He, further said that the company major project will be Axis Lake City, which will mark our entry into the eco-luxury space.

"In addition to this, we are gearing to launch Axis KNCJ (in Darjeeling) which will be our first project beyond the realms of Goa."

He noted that the company plans to invest Rs 500 crore in the coming three years in these projects its major spending will be focused on this year.