Ode to opulence: Why more and more Indians are opting for luxury homes
There was a time when luxury was an entitlement of the rich. Not anymore. With a rise in disposable income, more and more Indians are settling for nothing but the best.
This is true even when it comes to real estate. As per a KPMG report, “Luxury is the fastest growing segment in residential housing. Between 2008 and 2012, about 182 luxury housing projects with a value of $30 billion were launched in top seven cities of India. Many were absorbed or fuelled by strong growth in the number of high net worth individuals (HNWIs).”
But, first, what exactly are luxury homes? These are apartments, penthouses, villas, or bungalows that boast of top-notch designs and amenities. No wonder then that there is such a high demand for them, especially from globetrotting millennials who don’t shy away from asking for more.
The idea of luxury
So, what are some of the top luxury housing projects in the country? For instance, in Mumbai, there is Piramal Mahalaxmi Central Tower 2, in Bengaluru there is Kingfisher Towers, and in Kolkata there is DLF New Town Heights. In Delhi-NCR, there is Paramount Gofforeste, while Riviera Exotica is among the leading luxury housing societies in Ahmedabad.
For example, Paramount Golfforeste is a 90-acre township located opposite Sector Zeta in Greater Noida. Designed by renowned architects, these villas ensure that you live in both comfort and style. This is chiefly because a Paramount resident doesn’t have to face some of the most common problems associated with old cities, such as parts of Delhi where pollution, parking, security, and traffic snarls are big issues.
At Paramount Golfforeste, you don’t have to travel far just to eat or shop. A complex present on the premises takes care of all your needs. And, if you and your family love playing games, you can always head to the in-house golf course or tennis court.
Further, the township proves to be every child’s delight. There is a playing ground for them, a toy train, a skating ring, and a swimming pool. When looking to exercise, all you need to do is to hit the jogging track!
Other attractive amenities include a gazebo, a spa, and an artificial lake.
Luxury housing societies also offer top-of-the-line security, which is another factor pushing up their demand. At Paramount Golfforeste, for example, round-the-clock CCTV cameras and quick response teams ensure that the townscape is completely safe. The society is also a short distance away from major hospitals. Therefore, medical emergencies can be easily taken care of.
Living in a township such as Paramount Golfforeste means that you will be always surrounded by HNIs from notable fields, including doctors, defence personnel, and top government officials. You can be a part of many activities and help each other out in times of need.
Most luxury housing societies also support green living. And, with most people today becoming environmentally responsible, they see to it that their lifestyles aren’t at odds with this thought. Take the case of Paramount, where the residents are regularly encouraged to take part in eco-friendly activities. Not only this, the township is home to a large number of trees, thereby making up for the much-needed green cover. At least one street in this society has flowers blooming every season.
Last, but not the least, the rise in demand for luxury homes is being driven by their investment value. The prices of such properties tend to rise over time, making them attractive assets to possess.
Tip for home-buyers
If you are looking to buy a house, ensure that you don’t pick out something only on the basis of the location or the price. Having access to first-rate facilities, while living close to nature, also matters. You can perhaps consider projects such as Paramount Golfforeste, DLF New Town Heights, Kingfisher Towers, Piramal Mahalaxmi Central Tower, or Riviera Exotica as these have won many awards. Paramount Golfforeste, for instance, has won the ‘Best Society Maintained’ award as well as the second prize for the Best Maintained Club/Hotel.
To know more about the township, please click here.