When we talk about the luxury real-estate scenario in India, it is emerging out to be a dynamic segment of real estate sector in the country. Not just limited to Indian investors, this particular segment of real estate is also attracting buyers from all across the world. Among several factors, growing demand of clients, increased aspirations, and evolving lifestyles are the ones that are contributing to the luxury estate segment in India. This real estate portfolio is attracting new as well as existing players in the economy.
The six major cities of India namely- Delhi/NCR, Mumbai, Chennai, Bengaluru, Kolkata and Pune are becoming the hot spot for companies to dig in. Large scale fast urbanization and increasing incomes are the factors contributing to the demand and requirements of a home. Developers are now eyeing new and innovative ideas to lure buyers into buying luxury property in India with entire facilities one could ever dream of. There are also other factors such as migration of families into urban areas and comfortable infrastructure that are attracting people towards a piece of luxury real estate.
Being a basic need of human beings, housing is always going to be in demand, be it luxury or affordable. Best property websites in India, according to the new findings by Research & Markets, affordable housing demand is expected to surge at a CAGR of around 10% during 2015-2022. With these figures, it is evident that the current position of luxury properties is not far behind the affordable real estate in the country.
In the period of next 3 to 4 years, it is expected that people are going to move over the basics and demands for luxury housing is going to increase substantially. This rise could be attributed to the growth in urbanization and how quickly buyers are choosing lavishness over basics.
Forging Ahead with New Themes
A few of the builders such as Emaar MGF and DLF have come up with an innovate idea of theme based villas. Themes from different communities and societies are executed at one place where architectural and cultural elements are imbued in the residential villas. Not only this, builders are also trying to bring together a touch of ethnicity as well as urbanization through their emerging projects. For example, a new project in Gurgaon which consists of 4/5 BHK villas is being built in Spanish style. Isn’t that amazing?
Apart from these eye catchy designs, builders and developers are also vouching for homes that are actually smart. Intelligent spaces are also attracting buyers due to the fact that everyone is trying to keep their families safe under any circumstances. In order to develop these kinds of homes, systems with different sensors are being used for controlling features such as light, ambiance and temperature inside the house.
Even if buyers are not planning to stay in the luxury homes anytime soon, it is a great venture to invest money right now. Number of projects ranging from 1 to 20 crores are being launched across different metropolitan areas. With these projections and developments, luxury homes are surely going to be one of the most influential markets in India.