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Luxury Housing Projects: Redefining the Realty Trends in 2015

Author: Gsv Naresh
by Gsv Naresh
Posted: Jul 06, 2015

Options available in the Luxury housing need an in-depth analysis when it comes to defining them. With every turn of the year, new projects dilute the traditionally accepted norms and definitions. Luxury residential units are the most profitable and the most selling segment of the real estate market. Despite their pricing options, most buyers prefer to stick to the luxury housing owing to the full range of amenities that come with them. Bordering between sophisticated civil work and master class art work, the luxury housing units bring in the best of both worlds with a delectable set of facilities and permanent nesting features.

Definition: What the Experts Think about Luxury Housing

Luxury Housing is a niche segment of the real estate market designed specifically for the high-net worth individuals. In India, top luxury home destinations are limited to the Metro cities and some top B-Class cities. Prominent locations include Mumbai, Pune, Noida, NCR, Gurgaon, Bangalore, Indore and Ahmedabad. The High-net worth individuals are exclusive home buyers who have multiple assets and are always hunting down top residential properties in the up-market section. A luxury home can cost more than INR 2 Crores and often move upwards.

The definition for Luxury homes differ depending on the regulations, infrastructure offered and the price range. Even size and classification of the housing unit makes a distinction between luxury homes and ordinary real estate entity.

Size is the barometer

Luxury housing option can be marked out as any project that has been appraised at over 1 Million. The market value is usually set around this range and moves upwards depending on the vulnerability and scalability of the location. Top luxury housing units are mostly constructed as:

  • Sea-facing units
  • Golf course facilities
  • Downtown units
  • University areas
  • Water-fronts facing lakes and rivers
  • Hillsides

Significant factors that are considered in defining a Luxury housing project

Other than size, the following factors are also considered in tagging any real estate hub as a part of luxury housing option.

  • Amenities
  • Surrounding Localities
  • Infrastructure
  • Involvement of global partners
  • Degree of industrialization
  • Scalability of the project into commercial zone
  • Amount of customization done in homes
  • Architectural significance
  • Volume of parking units
  • Absence of crime and pollution
  • Freedom from traffic snarls, elevator failures, power loss and other miscellaneous hassles common in mid-scale housing options

Luxury real estate is often defined as real property that has an appraised value of over $1 million in the United States, yet this varies greatly depending on the location. The classification also takes into account the presence of surrounding homes, amenities, views, waterfronts, absence of crime-rate, industrialization or unwanted commercialization, customizations of the home, and historical or architectural significance.

What is the trend in India?

Investment portfolio built around the luxury homes in India is pegged close to 45 per cent in the realty market. Most of them belong to the NRI clients and IT professionals. Top notch projects playing exclusively in the Luxury home segment in India are:

  • Raheja Ravanata
  • Lodha Arum Grade
  • Koltey Patil Signature Gold
  • Orris Aster Court
  • Lodha Fironerza
  • Oberoi Exquisite
About the Author

Gsv Naresh is a real estate blogger who blogs about India's realty market and also gives advice on buying residential projects and flats in India.For More Information about Real estate Visit CommonFloor.

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Author: Gsv Naresh

Gsv Naresh

Member since: Jun 04, 2015
Published articles: 34

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