Luxury Projects - The rich, richer and super rich!
Demand for luxury projects and ultra luxury homes are not just arising from metros, but also across the nation. The average price for luxury segment across India is above 1 crore depending on their location and facilities available. Demand for these luxury houses is increasing day by day especially in metros like Delhi, Bangalore, Mumbai, Kolkata, Gurgaon and Chennai. The changing demographics of the country coupled with the rising aspirations have pushed up the demand for luxury housing.
The increasing demand can be attributed to the increasing rate of High Net worth Individuals (HNI) and rapid pace of urbanization. The demand is created by the increasing number of HNIs in India. Today, at a growth rate of more than 20%, India has the fastest growing number of high net worth individuals in the world and real estate comprises approximately 40% of their investment portfolio.
With the rapid pace of urbanization, the new urban families are craving for luxury homes that are fully loaded with global amenities enjoyed by the NRIs and citizens worldwide. Luxury housing is primarily catering to the high-end investors and consumers and is gaining a huge momentum as luxury has become a necessity for the urban households today
Builders and developers are now diversifying and exploring markets in the tier two cities like Bhopal, Indore, Dehradun and Amritsar, providing them luxury and super luxury homes and studio apartments for NRIs and HNIs in these cities. Ultra rich projects are launched in leisure locations like Lonavala, Goa, Kerala, Kasauli and Shimla with the product offering in the villa format. The prices range from 5 crore and above. The most attractive super rich clientele category prefer villas that are beach based, or has a sea view, or a river front and hill-based (foothills with lake front, hill stations). The water-associated formats generally have a private jetty for the residents of the enclave.
Developers take utmost care while building their luxury projects. Super luxury segments now have world-class features that are simply matchless in both price and style. They even come up with sixth sense electronic fittings and fixtures and 80% oxygen-rich environment to boost the health of residents.