It is for sure that demand for premium luxury housing is likely to remain strong in the days to come. There is a growing number of Indians who are getting attracted to luxury & housing is no exception. Real estate developers therefore are launching projects featuring world-class designs and a host of modern amenities. Safe & secure apartments, penthouses, bungalows & villas within gated communities are fast coming up besides branded residences & golf townships.
Real estate was facing a slump along with overall economy quite some time back. Low demand was mainly due to high property prices & interest rates. Especially in big cities, this created a
huge pile-up of inventory. The luxury real estate segment however has been successful in avoiding this downturn. Leading luxury housing projects across cities have seen steady appreciation in prices over the years. India had also felt the impact of the turbulence in the global real estate market. However, confidence in the luxury real estate market in the country was unshaken due to strong fundamentals in economy.
Reports suggest that luxury in residential housing is the fastest growing segment. Fuelled by strong growth in number of individuals with high net worth who usually do not take loans for purchase, the high interest rates did not have any impact on demand for luxury residential housing. People buying luxury homes come from high income groups who are able to finance & purchase property from their own resources. Moreover, they are also willing to buy properties at higher prices.
Location along with good social infrastructure & amenities is traditionally considered luxury. Luxury nowadays is not limited to a club & swimming pool in the society. Latest architecture, impressive designs & new technologies are being added by developers to prove their point. Some of them are also collaborating with internationally acclaimed designers & architects to overcome competition.
In view of the high economic growth rate, experts are optimistic about demand for luxury housing. It is therefore quite reasonable to assume that this segment will create decent amount of wealth over the next decade. Assured of a future earning potential, people are likely to spend more on luxury housing. It is expected that growth of luxury housing in the country will outpace growth of GDP by two times at least. Eventually, demand for luxury housing will rise
due to high economic growth. Watching this advantageous position, investors are also willing to pump-in funds. The next step however is that the market must perform.
Mumbai – This is the financial capital of India & a prime market for luxury housing. Locations in Mumbai command premium over other prime locations in other metro cities. Gurgaon – This place works as a suburb of Delhi & is home to a number of executives & big companies. This has effectively fuelled demand for luxury housing & is the most sought after destination today. Bengaluru – This city is undeniably the hub of India’s IT industry. Executives working in these tech companies are the main buyers of luxury houses in Bengaluru. Moreover, the cosmopolitan culture of the city attracts several people from all over the country. Difference in prices when compared with Mumbai & Delhi, also work as a huge motivator. Hyderabad – Appreciation of the real estate market in Hyderabad lately has taken everybody by surprise. In fact, it has been so dramatic that it has surpassed all other metros in the country. Areas like Gandipet and Gachibowli have seen good price appreciation in the luxury segment.
Availability of premium luxury villa homes & luxury residential apartments in Hyderabad are on the rise. Northstar Homes which is one of the top leading property developers in the city has 3 ongoing projects. District 1 is a highly rated luxury residential apartment in Hyderabad which is located at Gachibowli, a prime destination within the heart of the financial district & close to the IT hub. Airport Boulevard near RGI Airport & Hillside at Gandipet offer premium luxury homes for sale in Hyderabad. Both these projects are gated communities featuring high security & a host of modern amenities to go with your opulent lifestyle.