India has always been a huge market for luxury and ultra-luxury projects and cities like Mumbai, Bangalore, and Delhi NCR are immense contributors of higher absorption levels of luxury and ultra-luxury projects. Price appreciation charts of luxury housing states that luxury and ultra-luxury residential projects witnessed about ten-fold appreciation higher over their launch prices. The last decade has observed an exponential growth in luxury and ultra-luxury real estate in both supply and absorption.The most of the launched project in India witnessed immense pre-sale activity and were sold out very quickly. Luxury and ultra-luxury housing has entailed 100 per cent and above annual returns in major cities like Bangalore, Mumbai and Delhi. Demand for luxury and ultra-luxury housing in areas like Gurgaon, (Mumbai) has surpassed available supply in respective regions.Driving factors of Luxury and Ultra-Luxury Housing in India
- The major audience of luxury and ultra-luxury housing comprises business tycoons, successful entrepreneurs and higher level corporate officers. The amount of such people is increasing every year in India.
- The buyer category of Luxury housing is comparatively recession proof hence market sentiments or economy conditions will never be the issue for luxury and ultra-luxury house buyers
- The life style of people in India is rapidly changing everyone is dreaming of higher lifestyles. These sentiments have positively affected luxury and mid-luxury residential sector.
- Developers are receiving more than 100 per cent returns in luxury and ultra-luxury projects hence more and more supply is coming in the market.
- Increasing demand and availability of luxury and ultra-luxury supply has been the encouraging aspects of this sector.
Luxury and ultra-luxury projects provide much higher returns than that of affordable and mid-income segments. Competition in luxury and ultra luxury segment is very low hence it is very easy to sell luxury housing units compared to the other segments. Luxury and ultra-luxury projects usually harvest extremely good pre-sale absorptions through which developers can easily secure significant amount of funds to cater construction and development needs.Buyers of luxury and ultra-luxury projects have higher expectations hence maintaining quality of projects at higher level is the most important aspect while catering such buyers. Design, architecture, construction, features and amenities in luxury and ultra-luxury projects should always be the top-notch for better response.Top most luxury and ultra-luxury housing localities in IndiaMumbaiwith about 29 percent of the total available supply being in the luxury and ultra-luxury category, Mumbai is the costliest city of the country. Limited availability of the land parcels in prime locations has directly impacted land costs and therefore on the end product prices. Prabhadevi, Lower Parel and Bandra-Kurla complex are the hot spots for luxury housing in Mumbai. The prices of luxury housing in the prime locations of Mumbai vary from Rs 25,000 per sq ft to Rs 110,000 per sq ft.BangaloreUndisputed Silicon Valley of the country is one of the top most luxury housing markets in India. Bangalore has the top class IT/ITeS sector which has been the greatest demand driver in the luxury housing. The peripheral markets of the Bangalore are more preferred than the central markets for luxury housing. Prices of luxury housing in Bangalore in prominent locations vary from Rs 20,000 per sq ft to Rs 30,000 per sq ft. Delhi NCRSouth Delhi in Delhi city is the most expensive market of the Delhi NCR region. Apart from South Delhi, Gurgaon is also emerging as a hot spot of the super-luxury housing market. In Delhi, prices of luxury housing in prime location like South Delhi and Central Delhi vary from Rs 15,000 per sq ft to Rs 60,000 per sq ft. In Gurgaon the prices range from Rs 7500 per sq ft to Rs 30,000 per sq ft.Other than these three cities, Pune and Chennai are making their way in luxury and ultra-luxury housing sector and currently these cities are the most sought after residential cities of India.займ на карту без отказов круглосуточновзять кредит онлайн