The real estate market of India has undeniably shown a tremendous growth in the past few years. Simultaneously, luxury homes have surpassed the expectations of the buyers by offering an international living standard.
When it comes to defining luxury homes, gone are the days when their standard was judged on the basis of integrated facilities. The time has come when apart from modern amenities, the buyers are looking forward for a branded address and much more. The primary reason of such preferences is that the residents of India are getting influenced by international lifestyle. However, on the basis of preferences, the real estate builders are defining luxury in various categories.
These are as follows:
Branded Homes:- Indian real estate developers are getting associated with the reputed brands to offer a premium property. For example, Home & Soul collaborated with Fashion TV and launched branded residence in the name of F Premier in Greater Noida. Similarly, there are many more reputed builders that are emerging with the branded residences to offer a quality living standard.
The benefit of booking branded homes is that the buyer not only gets a signature address, but also the exotic luxury apartment with ultra-modern facilities at a prime location. The price range of such properties lies ranges from Rs. 1 crore to Rs. 25 crores.
Super Luxury:- When the price is not a constraint for the sake of status symbol, super luxury can be seen. In India, ultra-rich people and HNIs are not only paying a huge amount for a branded residence at an enviable address, but they are also striving to get their private swimming pool, gymnasium and garden, alluring interiors, complete home automation and much more.
Such apartments define super luxury with ‘no limits’. The prices of such properties vary from city to city. On an average the property prices for these super luxury homes ranges between Rs. 1 crore and Rs. 100 crores.
Affordable Luxury:- Luxury homes are trending in the Indian real estate market, but HNIs are not the only ones who are ruling the market. Since, India is comprised of diversified people whose incomes varies. Within this broad bandwidth, the number of people with mid-segment income is more than that of people with high-segment income. Thus, realizing this fact the developers have introduced affordable luxury homes as well.
The primary difference between super luxury and affordable luxury homes is that buyers of affordable properties can enjoy the shared amenities like swimming pool, club house, gymnasium, jogging track and garden. The range of such properties in India ranges from Rs. 0.6 crore to Rs. 25 crores.
The bottom Line:- The concept of introducing varied luxury homes reflects the democratic real estate world of India. By launching all ranges of luxury homes, the developers are fulfilling the demand of people lying in varied segments. This way, not only the builders are making huge profits, but the investors are also making a fat profit margin.
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