Godrej Splendour / Future of Luxury Housing in India
An overview of luxury living!
Luxury living and the segment of this luxury lifestyle has been on the top for a long time and is also supposed to achieve great heights this year and in the coming years also. The nature of the real estate market fluctuating during the pandemic times, and also during the time of inflation and deflation doesn’t affect this segment much as it is a safe side of investment that brings in a sense of security.
The market decides what is selling the best, so decides the conditions also, whether it is a pandemic or the situation when the market is booming and startling. Luxury living always has a separate fanbase, a sense of security or investment criteria which thus will make a safer side or the other perception can be the benefit to living in a place where luxury serves you with the best of what you deserve, a place where similar minded people reside makes a community where growth, flourishment, and progress stays as a consistent feature.
Who affects the demand for these luxury segments?
The Indian Diaspora and the high net worth individuals are the two main groups who have a major interest in investing in the luxury segment of housing. The sense of security of owning a home is what brings the NRIs also to invest in this real estate even more. Millionaires who want a lavish lifestyle knocking at their door are also making a consistent investments in the luxury segment.
Being a place where demand is not much derived from market forces but by preferences, or the sense of understanding the point that owning a home in difficult times is much more valuable than possessing any other asset, this thinking and the urge to live a lavish lifestyle attracts more and more investment to be in the major areas where connectivity to other major areas also plays a major role. Intelligent investments make the best decisions of life.
The time of pandemic also was profitable for this segment as the profits kept on rising due to the high-end users investing in the luxury segment even more. Some of the factors which the NRIs take as a major factor to consider while making the investment decision are, corporate governance, quality of construction, promising timely delivery, reassurance of continued impeccable levels of service, and credibility of developers and other many factors affect their decision of investing in luxury homes.
Some features of the luxury living segment!
The definition of luxury homes has evolved over the years and the needs are also upgrading, more natural lighting, fully serviced residences, state-of-the-art security, alluring amenities, upgraded and well-architected home designs, ventilation, outdoor spaces, great services, efficient home designs, effective layout, low maintenance homes, a central locality, strategic location from where traveling to integral places becomes effective, more and more of proximity to the social infrastructure, refined architecture, spacious homes, luxury additional services, are some of the factors which are kept in mind by the investors to invest in a home to be called theirs.
A place that can embrace daily living, and upgrade one’s lifestyle is all that’s needed, connectivity to major areas and the proper transportation facility becomes an integral part to think of, as metro connectivity, a serene environment, and a place where road connectivity enhances and also cuts down the traveling time.
Luxury living is not only about the elevated facilities and amenities, it is also about the locality, and the prospect of upgradation of the prices due to the corresponding places. Global lifestyle has to be tasted in a place of a like-minded community, a place where similar people live in a place where growth takes place at a higher rate.
A choice of the NRIs
The preference of the NRIs has always been to invest in Indian real estate, not always for the sole purpose of investment but sometimes also for rental purposes, a safe side is maintained from their side to make them assured of having property or a safe investment in their born place.
The significant rise which takes place over some time in the prices of the property also turns up as the income of the NRIs, the NRI investment in Indian real estate has risen from $13.1 billion in the year 2021 to $14.9 billion in the year 2022, which is a significant rise hence benefiting all.
A report says that in 2022 an estimated 30 – 35 percent of the luxury real estate segment will be in the investment taken by the NRIs, millionaires investing in luxury real estate keeps on rising and the next three years are foreseen to be beneficial for an estimated rise of 13.5 percent, as we see the luxury real estate, and the lavish lifestyle has a lot to offer, it makes the path of the growth and upgradation even easier.
Bangalore: the jewel on the crown of luxury real estate!
Bangalore is a place where a significant rise in the sale of luxury real estate as well as other real estate is experienced. Bangalore has given many such options which are capable of meeting the requirements of any investor who wants a perfect home providing luxury in every part.
A range of luxury homes is provided in the state, varying in many prospects including gated villas, expansive condominiums, and many other options for meeting the actual need of the buyer and providing satisfaction.
Why is Bangalore an integral option for investment in the luxury segment?
Bangalore is known for its pleasant weather, throughout the year, not too cold nor too hot, a perfect place to live and make the best memories. In addition to the alluring weather, the tranquillity of other features add to its importance like the positive consumer feedback, commercial activities fastening and achieving heights, the infrastructure of the city is one of the finest ones, social infrastructure can also be a point to boast upon.
It is the epicenter of growth and employment opportunities, here the top reputed and renowned companies, MNCs, and also the IT majors have settled experiencing a high growth rate and a consistent uprise in its importance making huge profits throughout with the constant efforts put in.
Bangalore has served as the best destination for investment and high-end customers also, with a large scope and options available to invest in one can go for the real estate of their own choice. NRIs generally prefer to invest in 3 BHK and 4 BHK spacious and lavish apartments, being a great deal of comfort and accuracy alluring them as well as us.
Other than Bangalore, Pune is a favored destination for luxury segment investment. The importance of Bangalore, and to be more specific, North Bangalore grew as the most favored and demanded a place for this kind of investment. This place serves the best of facilities nearby, major areas in close vicinity, on top of that Kempegowda International Airport in Devanahalli became the focus of the investors, as around the airport’s area major developments of integral significance have been made, major IT parks, SEZs, and also business parks are closely located adding a cherry on the top.