It is true that last year Indian property market saw decline in the sale of luxury real estate but now the prospects of luxury real estate is improving despite the fact that most of builders and developers are preoccupied with their affordable housing projects. This phenomenon is not strange atleast in India because Indian is a vast and diverse country with many different segments of buyers. Developers caught the fancy of affordable housing because they wanted to meet the needs of lower middle class people when the high income group (HIG) buyers had reduced their spending due to recession. Once the threat of recession has reduced these buyers have again come to the market. However, I may not be wrong in saying that recession had no effects on the income and spending of HIG. However, they had reduced their spending due to a general trend of reduction in spending. This is the reason why developers have suddenly started talking luxury projects, even though most of them should ideally concentrate on their already launched affordable housing projects.