Villaments – An Emerging Trend in Bangalore
The most popular types of property one looks for buying nowadays are apartments. If it is a high-end buyer, the next level of choices are residential houses and luxury villas. However, ‘villaments’ is a concept many buyers have not heard of. It is a new concept and becoming rapidly popular in metros such as Bangalore and Delhi-NCR.
Villaments: a new concept
A villament is a combination of an apartment and a villa. Villaments are mostly low-rise apartments at a premium price. It combines the positive features of a villa as well as an apartment. Some of the features of a villament include the openness and luxury of a villa as well as the comfort and convenience of an apartment. The pricing of these is usually between that of an apartment and a villa.
A typical villament is usually spread over 150-300 sq. yard plot. Its structural design involves a villa built upon another villa with different ownerships. People living in the ground floor usually get to enjoy garden space, while the top floor unit gets to enjoy the terrace space. It also consists of other features such as gym, jogging tracks, swimming pool and a gaming zone.
A growing trend in India
The concept of a villament is a buzzword amongst NRIs and high-end home buyers of 3 and 4-BHK property. The concept was originally established in Delhi, where villaments are known as “Builder Floors”. These units typically have G+3/G+4 format with one unit per floor. Such builder floors have been built in many townships in NCR. Some of the notable townships with these kind of projects are Sushant Lok-II, DLF exclusive floors and Vatika INXT. Mumbai, too, has several builder floors available.
With Bangalore becoming a real estate hot spot over the last couple of years among NRIs and high-end property buyers, the concept has now moved down south, with the name of ‘villament’. East Bangalore, especially areas in and around Whitefield are witnessing a growing number of villaments. South Bangalore too is witnessing a slew of villaments. Some of the commonly known developers include NSL Infratech, Embassy Group and Habitat Ventures.
The trend is fast picking up in few tier-I cities while it is yet to pick up in few other cities. How these projects will fare in other cities, only time will tell.
