The luxury real estate market in India
In recent years, Indian real estate market has grown up to accommodate ultra-luxury projects meant for the uber wealthy segments. The booming economy and want of lavish lifestyle, India’s UHNIs have shown a keen interest for super luxury apartments, exclusive residences, independent villas, row houses and bungalows.
India’s economic growth story continues, adding volume to the disposable income of the HNI population of the country. According to a Wealth-X report, if the current trends continue, it is expected that India will have 4.37 lakh (437,000) millionaires by 2018.
‘By Invitation Only’ Residences
The rich and affluent class of India is fast becoming accustomed to the global ways of luxury living. Travelling abroad for work and pleasure is making them exposed to the international standard of living and now they are not just satisfied with an up market location but also are looking to upgrade their lifestyle measures. There come the ‘By Invitation Only’ residences where one can expect private gymnasium, private swimming pool even private garden, crafts of internationally acclaimed architects, modern amenities, high-end home automation systems and the privilege of private living.
Branded residence similar to super-luxury cars or hosting a celebrity party is testimony to social and financial superiority. This emerging segment is alluring and hence the real estate developers of the country are taking up such projects, often in collaboration with international partners. Many developers aim to take up such project/s to raise their brand value and build a coveted portfolio.
Super luxury real estate markets are primarily Mumbai, Bengaluru, Pune, Delhi, Gurgaon, Chennai and a few other tier-I cities. Luxury residences are regarded to have massive investment potential not only by the domestic investors but also by NRIs and foreign investors. Primarily because ultra luxury segment is immune to market dynamics the rise or fall of property price would hardly have any impact on the purchasing decision of the buyers.
A few signature projects
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Lodha World One:
This is projected to be the tallest residential apartments in the world. The tower is designed by Italian couturier Giorgio Armani.
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There are only twelve residents in this spacious tower apartment. These individual living spaces are available in 3 bedroom, 4 bedroom and duplex penthouse configurations.
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Each 7,000 sq. ft apartment has wide sun-decks, separate servant quarters, infinity edge swimming pool, state-of-the-art gymnasium with sauna and jacuzzi, a 20-seater state-of-the-art mini theatre and conference room.
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Ireo Grand Hyatt Residences Gurgaon
Image courtesy: https://www.jllresidential.co.in
Four Seasons, Noida
What UHNIs expect?
Authored by 9amstories.com Editorial