Luxury Homes - the new trend
Its true that luxury homes like 'Verandahs' in Gurgaon will surely be the icing on the cake for high-end investors who would want to spend their hard-earned money on quality investments.
Luxury is the new buzzword among India’s huge and fast expanding middle class. With burgeoning income, people in the cities prefer to live life king-size. And one of the latest inclusions in the list is of luxury homes. What was a niche barely a few years ago is about to burst at its seams.
A house today is not only meant for living but also exudes the lifestyle and style statement of an individual. Especially with the growing economy, exposure levels of people have grown very high and globe trotting professionals want something more than just an apartment. With the growing affluent society there is a surge in demand for luxury homes comprising international facilities like Jacuzzi, spa, clubs, swimming pools, tennis court, centrally air-conditioned homes, and many such facilities.
The trend of luxury homes was started a few years back with the ITC project Laburnum in Gurgaon. The idea of this high-end product was then picked up by the Sahara Group which came up with Sahara Grace in Gurgaon.
Luxury homes are considered niche product, so their prices are considerably quite high and are therefore marketed for exclusively for prospective high-end clients.
Super premium housing in India is on a high-growth trajectory if the developer’s interest in the segment is any indication. Growing at 25-30 per cent, luxury housing has already grabbed a 10 per cent of the housing market in value terms. Analysts say that, although the country has seen an unmatched surge in demand, the market for this segment is growing at a feverish pitch.
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