The real estate luxury segment had seen a lull due to rising construction costs. However, demand for luxury housing has once again gained momentum due to stable prices and the rupee rate.
Across NCR, a host of options in terms of apartments, flats, residential projects, commercial spaces, office spaces and other constructions are arising at an incredible space. Areas such as NH8, Dwarka- Gurgaon Expressway, Gurgaon has a number of sectors under major development, such as sector 89 and sector 90. On the other side of NCR, Noida also have promising projects underway in terms of 2 BHK, 3 BHK and 4 BHK apartments at Noida sector 79, sector 98, near F1 Track Noida, Noida Expressway and Yamuna Expressway. The infrastructural development in and around NCR is state- of- the- art as it caters to people who seek comfort and luxury.
Luxury projects cater to a niche, affluent segment of society, who can afford exclusive offerings and are always seeking something distinct. As such, for this elite stratum the way they live becomes a fashion statement. According to a report in The Economic Times, luxury unit sales in Delhi-NCR have gone up by around 25 percent in the current fiscal in both Non Resident Indians (NRI) and domestic segments. This number is set to increase in the coming years. According to Mr. Nirmal Singh, Founder - Lotus Greens "India has the fastest growing number of high net worth individuals in the world and real estate comprises approximately 40% of their investment portfolio."
Last year, the depreciation of the rupee also provided an impetus to the luxury housing segment. This provided a golden opportunity for NRIs to invest in property back home, thus saving around 20-30 percent on the property value. Consequently, there has been a spurt in the NRI/PIO (People of Indian Origin) demand for luxury housing.
Domestic consumer demand is guided by location of the project and the facilities on offer. Changing lifestyle, growing exposure to overseas living and attraction of handsome return are major factors in sales escalation. The upper-middle class is beginning to graduate to luxury living in western-styled homes with ultra-modern facilities. They do not mind spending on comfortable living. And this segment is on the rise in urban metros like Delhi, Gurgaon and Noida. Numerous luxury projects and townships are in progress in areas adjoining Dwarka Expressway, Gurgaon, Noida, Noida Expressway and the Yamuna Expressway.
‘Branded luxury homes’, launched a few years ago. Lotus Greens one of the leading real estate developers Delhi NCR tie-up with international luxury hospitality or lifestyle brands to create differentiated offering. These homes boast of professionally designed interiors and exteriors, centralised management of facilities and various additional features such as concierge services, high-grade electronic surveillance and security and valet parking. These developments offer facilities such as, swimming pools, jacuzzis, gymnasiums, clubs, children’s parks, joggers tracks, and even golf courses.
All these factors have high appeal value. The Builders in Noida and Gurgaon are living up to the very high brand standards promised to the buyer.
Across NCR, a host of options in terms of apartments, flats, residential projects, commercial spaces, office spaces and other constructions are arising at an incredible space. Areas such as NH8, Dwarka- Gurgaon Expressway, Gurgaon has a number of sectors under major development, such as sector 89 and sector 90. On the other side of NCR, Noida also have promising projects underway in terms of 2 BHK, 3 BHK and 4 BHK apartments at Noida sector 79, sector 98, near F1 Track Noida, Noida Expressway and Yamuna Expressway. The infrastructural development in and around NCR is state- of- the- art as it caters to people who seek comfort and luxury.
Luxury projects cater to a niche, affluent segment of society, who can afford exclusive offerings and are always seeking something distinct. As such, for this elite stratum the way they live becomes a fashion statement. According to a report in The Economic Times, luxury unit sales in Delhi-NCR have gone up by around 25 percent in the current fiscal in both Non Resident Indians (NRI) and domestic segments. This number is set to increase in the coming years. According to Mr. Nirmal Singh, Founder - Lotus Greens "India has the fastest growing number of high net worth individuals in the world and real estate comprises approximately 40% of their investment portfolio."
All these factors have high appeal value. The Builders in Noida and Gurgaon are living up to the very high brand standards promised to the buyer.
