Grand views, seven-star amenities, stylish décor, expensive fittings and neighbours who are people like us...luxury homes offer these and more. And there is a rush to buy properties that cost more than the average man’s lifetime savings.
“This place matches our family’s lifestyle. We bought it knowing that it would offer the perfect environment to relax, enjoy and spend time with the family,” says Rohit Mutha, a chartered accountant and owner of a 4,600-square-foot, 4-BHK apartment at Amar Landmark, Pune.
Apartments at Amar Landmark go upwards of a few crores.
The allure of luxe, however, is just not a lifestyle choice; it is also a sensible investment option. Nandan Mathur (name changed on request), a C-suite executive has invested in M3M Heights in Sector 69, Gurgaon. The project has a breathtaking view of the Aravalli range and an exclusive five-star clubhouse of 1,00,000 square feet.
“I want my house to be secure, have world-class amenities and super in-house maintenance. Luxury houses offer at least 3,000–3,500 square feet of space. Even if I want to rent my houses these luxe ones make sense as tenants are willing to pay higher rents,” he says.
Luxury real estate has seen a bump in recent times. CRE Matrix, a real estate data analysis platform, says that there has been a year-on-year increase in primary sales of luxury property priced ₹5 crore and above in seven cities in India. The numbers have increased from 2,581 units sold in 2020 to 10,929 in 2023. Sales recorded till June 15 this year stand at 3,033 houses including villas and apartments. Last year Gurgaon recorded the highest sales in this segment with 3,713 units being sold across four quarters.
Denne historien er fra July 2024-utgaven av Outlook Business.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 2024-utgaven av Outlook Business.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
'Automation is Redefining Efficiency and Precision in Jewellery Manufacturing'
Increasing brand consciousness and awareness among consumers is helping expand the organised jewellery retail industry. MP Ahammed, chairman of Malabar Group, discusses prominent trends in the jewellery industry
BATTLE TO WIN THE AI RACE
In Supremacy, Parmy Olson tells the astonishing and behind-the-scenes story of the battle between the world’s two leading artificial intelligence firms, OpenAl and DeepMind and the continuing rivalry of its founders Sam Altman and Demis Hassabis respectively
A LEADER WHO EMPOWERS
Anshul Arzare, MD and CEO of YES SECURITIES, wants to ensure a workplace where employees not only contribute to the company's vision but also feel content
EV Unplugged
Electric vehicles are crucial to India’s climate change plan. But reliance on China for imports and technology constraints remain hurdles the sector needs to overcome
Every Lamborghini Owner is a Brand Ambassador
Regional director of Automobili Lamborghini, Francesco Scardaoni, talks to Prachi Khanna about the brand’s approach to fostering a sense of community among its vehicle owners. Edited excerpts
NO ZEST FOR ZED
A government initiative to green MSMEs is not finding enough takers
SMALL PLANTS, BIG TROUBLE
Climate-triggered stress is placing an unprecedented burden on small businesses. But a lack of access to climate aid hinders the sector's ability to adopt greener methods
'We Think About the Rider More Than Any Other Company
Rapido co-founder Aravind Sanka talks to Neeraj Thakur and Deepsekhar Choudhury about how flexibility and fair pay helped his company disrupt the Ola-Uber duopoly. Edited excerpts
LABOUR PANGS
Rising cost of living in a fast-growing economy is making workers restless
'Hustle is No Virtue'
It has become fashionable to talk about the verb “hustle” these days, especially in professional settings.