Rise above the necessity and then above the premium. When you have done that, you are in the lap of nature. The connotation of luxury varies from person to person and its perceived value varies with one’s specific needs and aspirations. Luxury living involves creating an overall experience that not just meets the expectations of customers but attempts to exceed it. In India, luxury housing has picked up the most in the luxury segment. Modern homes today pack features that meet the growing aspirations of people who want their houses to reflect their social and financial standing. Depending upon the city and suburb, these came as apartments, penthouses, suburban villas and bungalows, and are often close to a golf course or a green expansion.
Over the last decade, luxury and ultra-luxury residential projects in leading cities have witnessed ten-fold appreciation over their launch prices. Cities like Noida, Gurgaon and Greater Noida are topping the charts in luxury housing segment. This implies that there have been more than 100 percent annual returns on the investment. In fact, there has been a tremendous response to these projects so much so that most of the projects are declared sold out in a very short span of time. The response in cities like Noida, where demand has outpaced supply, has encouraged developers to shift their focus to this segment due to high profit margins and good volumes that help in securing fund flows. Noida offers location advantage coupled with world class infrastructure.
From a customer and category point of view, luxury housing is projected to register maximum growth, owing to the increasing HNI population and growing aspirations of people, changing lifestyles and the affluent young with high disposable incomes looking for a luxurious lifestyle. The luxury housing segment is undoubtedly a great promise for the buyers and sellers alike.