Luxury Living Is All About Brand Names, And It's Here To Stay
Not just the developers building your home, even the chandeliers in your luxury abode today are from a coveted international brand. With the increase in spending power, the well-travelled luxury home buyer is a worshipper of fine taste and delicate designs. Undoubtedly, the place that he/she calls home has to be one of a kind. For example, not long ago, it was reported that Versace in alliance with ABIL Group would be entering the Mumbai market to design the interiors of a 32-storey skyscraper with 10 apartments, each of which could command as much as between Rs 50 and Rs 70 crore!
Take the case of Trump Towers in Pune, developed by Panchshil Realty. It is the perfect example of luxury living. The expansive single floor apartments boast an awe-inspiring view of the city while the quality fittings and furnishings promise a high-end lifestyle.
Such is the charm of luxury brands that even in a wavering market, luxury doesn't see an opposition. Sotheby's Global Luxury Residential Real Estate 2015 report indicated that over 6 per cent of the world's ultra-high net worth (UHNW) population is made up of expatriates – those individuals who are currently based outside their home countries. These individuals are stimulating residential real estate demand in their home countries' markets- for example, India's non-resident population is increasing demand in Mumbai's residential real estate market. Mumbai, in fact, grabs the 9th position in the list of top places for ultra-high net worth individuals' residences. India overall grabs the 10th position as a second-home realty destination.
“The increasing demand for properties in India rivals that of gold. Real estate and gold are the most traditional forms of wealth investment in India. However, properties present the advantage of being an asset that rises in value at every instance – and it is also a 'performing asset', meaning that it serves a practical purpose even as it gains in value. Given the fact that luxury homes are always in demand even in the secondary market, HNIs correctly see them as the perfect investment opportunity that guarantees multiplied returns,” says Anil Pharande of Pharande Spaces.
The report estimates around 5,000 ultra-high net worth individuals residing in the country. Naturally, brands have chosen to spoil them. For example, look at this. Trump Towers in Mumbai, developed by the Lodha Group have something to surprise you. Luxury cars are a passé. In here, you have a private jet at your disposal! While talking about the interiors, HBA studio was roped in to design the chopper. The company has an international presence and has styled some of the world's most sought after resorts and spas.
P Landscape, a landscape design studio based out of Bangkok is credited with conceptualizing The Park at this famed Mumbai project. It was one of the most ambitious projects, “an oasis of nature in an urban setting” as the developer firm explains it. All this gives the project, a larger than life feel.
Amidst all this, there is utmost importance paid to your well-being. “One important feature of luxury homes is that they have very high security. They have top-of-the-line security, both in terms of trained security personnel and security installation that guarantees safety. Further, accidents and medical emergencies can be quickly taken care of with immediate response triggered by technology, and the availability of hospitals and emergency rooms nearby,” says Pharande.
“Technology and IT innovation have gone a long way to make the living experience in high-end luxury homes extraordinary. From solar generators to remote-controlled window shutters, everything is directed towards meeting the demands of homebuyers looking for an ultra-modern lifestyle,” he adds.