Gujaratstartups, Ahmedabad: Realtors in the city are in top gear. Cashing in on the boom in the sector, they are not thinking twice before splurging on luxury cars. Figures from dealers say that of every 100 luxury cars sold in the city every month, about 50 are bought by those associated with the sector.

Automobile dealers believe the real estate market is on a boom in Ahmedabad, which is the most developing city of Gujarat. Here, the sector is rising by more than 30% every year and this gives real estate brokers, builders and developers all the reasons to buy luxury cars.

“With the real estate growth on a rise, builders and brokers have started buying more of luxury cars. Around 45% of the sales are contributed by them,” said Talha Sareshwala, CEO & MD of Parsoli Motors.

Any car costing more than Rs20 lakh can be called a luxury car. BMW, Mercedes-Benz, Nissan, Audi, Volkswagen and many such luxury car brands entered Gujarat long back.

But these brands are seen more among developers than any other category of people.

The age group of people buying premium cars has also come down to around 35 years.Dealers say the number of real estate brokers and builders joining their buying list is gradually going up.

“With money flowing into the pockets of realtors and builders because of the boom in the sector, we have seen an increase in this segment buying premium cars.

Almost 40% to 50% of our customers come from the real estate background,” said Paras Somani, executive director, Benchmark Cars (dealer of Mercedes-Benz in city).

Ajit Mehta, GM at Infinium Toyota, agrees with Somani. “Yes, there has been a gradual addition of real estate brokers and builders in the buyer category of premium cars mainly due to
the boom in the real estate,” said Mehta.

Another premium car dealer, Sukhbir Bagga, director of Group Planet Petal, who deals in Nissan, affirmed the trend, saying: “The lobby of real estate brokers and builders buying premium cars is on a rise.”

Source: DNA