The stakes on high end luxury projects by realtors
The profligate evolution of the real estate in India has given a large scope to the development of luxury high end projects.
Most of the realtors are betting on the high end luxury projects and are focusing on their developments. It is seen that realty players anticipate better returns with these high end luxury projects in markets like tier 1. Most of the realtors are opting for investing in high end luxury projects for two reasons;
- They are expecting an extra 20-30 per cent benefit out of the actual investment they have made. Due to this luring offer, every realtor is enthusiastic about investing in luxury high end projects in many cities.
- The second reason for the enormous development of high end luxury projects is that there is an increased demand for them in the market.
Major cities like Delhi, Mumbai, Bangalore and others are successfully developing high end commercial and residential projects. Most surveys denote that more than 70 per cent projects launched in these cities by renowned developers are only high end luxury projects.
Since the differential cost of an apartment and a luxury apartment in tier 1 cities is not much, developers are opting for such type of projects. Perhaps the luxury residential projects have higher risk when compared to the affordable housing projects. On the other hand the luxury housing fetches a better amount of benefit as well.
Apart from just luxury housing, most of the developers are also focusing on affordable housing as comparatively to the luxury housing, the affordable housing is blooming in many cities with greater returns. Perhaps, the trend of affordable housing is spreading in tier-3 cities with a lesser amount of investment.
The concept of luxury housing:
Luxury homes are homes which are similar to plush hotels and are in great demand. They are exclusive as they have special features based on their location, structure and functionality. Likewise a villa on the coast of Mumbai with a speedboat pickup facility is a luxury home, a home with a nine-hole golf course designed by famous architects are termed as luxury homes.
The main aspect of a luxury home is its location as most of the luxury homes are built away from the hustle and bustle of the city, perhaps the ideal location to have a luxury home can be within the heart of the city with no disturbances around. Apparently, most cities are witnessing the growth of ‘super luxury’ homes which have additional facilities and extravagances when compared to the luxury homes.
Also most of the realtors are developing ambitious pipeline of high-end shopping malls which can cater to the retailers and buyers with the luxury brands. A large number of home buyers are demanding for luxury housing with an array of amenities.
