Why Luxury Living is the new trend across Home Buyers in India?
By: Properties Advisor | Pune
A RAPIDLY REVIVING ECONOMY
Indian economy is going through a great transition phase which has pinned it on the global map of rapidly developing countries. The economy is reviving and new frontiers of economic growth have surfaced on the subcontinent. Reviving economy has infused a renewed sense of confidence among Indian home buyers, there has been a significant surge in demand for luxury homes & properties in the metro cities of India.
RISING ASSET VALUE
Land (Real Estate) and gold are the most traditional forms of investment in India. However, real estate provides a significant advantage of being an asset that rises in value at every instance as compared to other investments. This revived sense of investment has not only given new life but also boosted the entire real estate sector across India.
DEMAND FOR LUXURY & COMFORT
This demand is stimulated by the increasing standard of living and growth rate of income among successful business people, high-flying corporate executives and IT professionals, and the wealthy young generation of traditionally rich families. They demand more than just four walls and a parking slot. The craving for a luxurious lifestyle with high-end facilities is now on every property buyers list.
Due to this surge in demand for Luxury Living, many more developers are now venturing into the premium segment, which has resulted in a massive spurt of luxury projects. In fact, many of these properties are being touted as so exclusive that sales are by invitations only. Those projects aside, there is no shortage of builders who are marketing their projects as 'luxurious' without any real justification for the term. Driven by the rising demand for luxury apartments, many investors (and end-users) are actually buying a huge land portion and turning them into a country
This demand is stimulated by the increasing standard of living and growth rate of income among successful business people, high-flying corporate executives and IT professionals, and the wealthy young generation of traditionally rich families. They demand more than just four walls and a parking slot. The craving for a luxurious lifestyle with high-end facilities is now on every property buyers list.
Due to this surge in demand for Luxury Living, many more developers are now venturing into the premium segment, which has resulted in a massive spurt of luxury projects. In fact, many of these properties are being touted as so exclusive that sales are by invitations only. Those projects aside, there is no shortage of builders who are marketing their projects as 'luxurious' without any real justification for the term. Driven by the rising demand for luxury apartments, many investors (and end-users) are actually buying a huge land portion and turning them into a country
Indian luxury home buyers have sound reasons for why they wish to move in a premium township instead of ‘normal’ homes. So, what apartments really qualify as luxury homes? Here are some facts that tell us more about this new trend.
STRATEGIC LOCATION
The Location also forms one of the aspects that buyers consider while choosing a luxury apartment. But for Buyers who are looking for a break from the congestion of the densely structured surrounding, location becomes secondary. A strategically-located Luxury Apartment is preferable for buyers who want to stay in close proximity to important places like airports, business districts, railway stations, etc. At the same time, such a location could also be marred by issues such as traffic congestion, noise and pollution. True luxury is defined by a careful balance of connectivity and proximity to nature.
PERFECT VIEW
The window view available from an apartment is also an important aspect. A project may be genuinely luxurious in its specifications and amenities. However, if it overlooks a hyper-busy highway or anything else that is not soothing to the eyes and sensibilities of the occupants (such as a slum, graveyard or even a hospital) then both habitation value and rental/resale potential of the apartment may take a beating. The availability of super-rich amenities such as a swimming pool and Jacuzzi in every bathroom will not make a difference when the very basic ingredient of a luxurious living experience is absent.
The window view available from an apartment is also an important aspect. A project may be genuinely luxurious in its specifications and amenities. However, if it overlooks a hyper-busy highway or anything else that is not soothing to the eyes and sensibilities of the occupants (such as a slum, graveyard or even a hospital) then both habitation value and rental/resale potential of the apartment may take a beating. The availability of super-rich amenities such as a swimming pool and Jacuzzi in every bathroom will not make a difference when the very basic ingredient of a luxurious living experience is absent.
ULTRA-MODERN AMENITIES
Investors in a luxury apartment want the best that money can buy. Luxury homes are meticulously designed to offer maximum comfort, with attractive interiors and cutting-edge facilities. Premium residential projects must offer state-of-the-art facilities such as Golf Course, Yoga and Meditation Arena, Swimming Pool with Jacuzzi, Landscaped Gardens, Stylish Living Rooms with Private Theater, Sleek and Fully-Equipped Kitchen, Connected Appliances, Home Automation Systems, Multiple Parking, Faster Elevators, 24-Hour Security and World Class Gymnasiums.
AFFLUENT NEIGHBORHOOD
Luxury housing projects are also seen as the perfect environment for one’s children to grow up in and the adults to socialize in. After all, such projects basically form a society with a certain degree of culture, education and beliefs – in short, better local environment & surrounding. Luxury Living is a demand that is supported by a Neighborhood and Locality that resonates with the philosophy and values of the Buyers. A similar profile of residents encourages investment in Luxury Living Properties as buyers tend to believe that it enriches their overall social network net-worth. High Profile residents comprise a wealthy and influential group that helps them in mutual growth.
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