For The Richie-Rich: Homes Priced Up To Rs 50 Crore
Luxury real estate is slowly and gradually making its mark in the Indian market. What comprised of a lowly two to three per cent of market share a decade ago, has now graduated to a bigger number, which experts roughly place between 8-10 per cent. Although, most people will opt for affordable, luxury never fails to cast its spell on a select few.
Makaaniq brings to you some of the most luxurious properties across key Indian cities:
With per sq ft values touching five figures, almost every corner of Mumbai may be priced like luxury, but, it is not. This celebrity nest has seen some of the most talked about investments made by cricketers including Virat Kohli and Yuvraj Singh; actors including Abhishek Bachchan and Alia Bhatt; and industrialists like Babasaheb Kalyani, Nandan Nilekani, Narayana Murthy, Siddharth Yog etc. There is no denying the fact that Mumbai definitely is a millionaire's backyard.
So, what is it that commands the price of property in Mumbai? Space. If you are looking for a spacious apartment in Mumbai, you may end up paying crores. Kohli's Rs 34-crore unit is a little over 7,000 sq ft. As per listings with PropTiger, noted realty players have exclusive projects in Prabhadevi, Bandra, Worli, Juhu, Mahalaxmi, Lower Parel, Napeansea Road, Tardeo and Khar among others.
Buying space in Pune? You could get it at a price half of that in Mumbai. Pune has shaped itself to the needs and requirements of an ever growing IT/ITes populace, making smart and automated homes a reality.
A cursory glance of the listings shows that homes in the range of Rs 8-17 crore are equipped with best of the amenities. An international project like the Trump Towers in Kalyani Nagar is one of the most sought after name in luxury which has become a landmark in itself. A 4BHK apartment in Pune spread over an area of 6,000 sq ft will cost you around Rs 16 crore.
The kind of amenities also defines the essence of luxury. The aforementioned project, for example, boasts concierge service, fitness centre, outdoor lap pools, residents only card access, spa and an art gallery spread over 13,500 sq ft approximately. That's what money can buy!
This tech-city is on every investor's mind. Almost every research confirms the city's popularity and prospective buyers' willingness to opt for a home here. When you buy a luxury home in the city, you are definitely asking for comfort and high-end technology.
Listings reveal that areas such as Ashok Nagar, Sadashiva Nagar, Mahadevapura, Vasanth Nagar, Hebbal, Ulsoor or even Old Airport Road have garnered the presence of celebrated real estate players and luxurious 3BHK, 4BHK and 5BHK units as big as 10,000 sq ft is up for sale. The broad price range of luxury in the city varies between Rs 8-30 crore.
If you are a connoisseur of fine style, some developers are also open to the idea of customised layouts provided you opt for it at the early stages of construction, preferably within six months of construction. This works for those who may want to add a personal touch to their investments.
This southern city has quite many takers for luxury. For apartments, prices may go up to Rs 15 crore. Where plotted developments are merged to come up with mansions and bungalows, prices may be high, to the tune of Rs 45-50 crore.
The influx of new companies in the IT, business and market analytics domains have led to a large number of jobs and thus, a large population is migrating and ready to settle down in Chennai. The city has also seen a prolonged NRI interest and this results in real estate purchases in the city.
Industry experts inform that some of the plush units in the city especially that have a scenic touch to it such as a sea-facing or a beach-side house may also see good traction among corporates. When leased, they can garner up to Rs 4 lakh. This is a good way for those who have assets in the city but have to temporarily move out. Property management services may be another alternative though.
When it comes to Delhi, one cannot overlook the established corners of the city. However, much of the focus of luxury developers has moved to Gurgaon because land bank in the national capital is limited and options are limited to areas such as Greater Kailash, Gautam Nagar or Chattarpur. In Gurgaon, options to build and sell abound because this micro-market has seen an influx of a younger, professional crowd who may not afford Delhi but have replicated Gurgaon as a hotbed for hangouts, lifestyle and housing.