The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+
    Advertorial

    What makes a luxury home? Decoding the next big boom in the Indian residential real estate market

    Synopsis

    There are many real estate developers who have great offerings, but Godrej RKS seems to have caught everyone’s fancy with its rich history & panache. The development comprises Collector's Edition Residences that are inspired by the Bombay Art Deco Architectural style and brings together the 123-year legacy of trust and commitment of Godrej.

    ET Spotlight
    One of the greatest achievements of life is the happiness of buying a home. The sense of accomplishment is unparalleled to any other feeling. But what if there's something that adds to it & makes it extra special? A headlining factor that turns a home into something truly extraordinary. A home that can rightfully be called a 'luxury home’.

    The pandemic may have dampened the real estate market, but the zeal with which people are turning to luxury homes is unprecedented, especially in Mumbai, where such residential properties are selling like hot-cakes in established neighbourhood areas of SOBO, Colaba & Chembur. Kicking away the pandemic blues, many real estate majors have started selling luxury residential properties in Mumbai that can proudly wear the ‘luxury’ tag. So let’s delve deeper into understanding what goes into the making of a luxury home in 2020.

    It’s all about the grandeur
    A (4)ET Spotlight

    A luxury home is all about grandeur. And the splendour shouldn't be confined to your living space, but it should also be seen in the locality where your home is situated. For the luxury home buyers of 2020, this is a primary ask. People are looking at grand & opulent settings to be an integral aspect of the society they live in. For instance, buyers in Mumbai feel more connected to the city if the development has an architectural design that represents quintessential Mumbai architecture like the Art-Deco or the Victorian Gothic or the Indo-Saracenic architecture. Having such a design in the development makes the feel right at home.

    Luxury equates to spacious homes
    CET Spotlight

    With the pandemic making us work from home, one thing is pretty clear - a home should be spacious. And with the luxury tag, having open spaces in modern homes is a must. A home should have a separate nook where you can carry your business, allowing you to stay connected to your office even without having you to step out of the house.

    A connected luxury living
    An important but underrated aspect of a luxury home is its location. A home should be well connected to the major shopping & lifestyle hot-spots of the city and also have easy access to business & financial districts. This is why centrally-located areas like Chembur, Sion & Dadar in Mumbai are preferred by the majority of buyers looking for luxury homes. This particular region in Mumbai is well-connected with BKC connector, Eastern Freeway & Eastern Express Highway.

    An address like no other
    On one hand, the physical location of a luxury home is important for practical reasons. But on the other hand, there’s an intangible value attached to a locality that builds up over time. So, a buyer factors in this ‘value’ while considering a luxury home. For instance, finding a home in a locality like Altamount Road, RK Studios, Pali Hill in Mumbai or Rajpur Road, Panchsheel Enclave, or Jor Bagh in Delhi is extremely rare. And when a buyer does find a property that fits their criteria, it presents a unique opportunity & pushes them to go for it, thus making the address of the luxury home, one of a kind.

    A visible uptick in the luxury home segment
    BET Spotlight

    What's fueling buyers towards these luxury homes cannot be pinned on one particular factor. But as per market trends, there was a pent up demand soon after the lockdown was lifted. Buyers who had made plans to buy a luxury home for themselves made the move. Another reason why these luxury homes are in such a huge demand is that the majority of corporate honchos and prospective buyers are looking to park their capital gains from selling other big assets. One interesting fact to note here is that buyers are not looking for an investment option with luxury homes; instead, buyers are looking at living in their new premises.

    The NRI influx
    Apart from the unprecedented move in the luxury real estate market in India, thanks to local investors, the market is also seeing a significant boost with the influx of NRI buyers . With the introduction of RERA in the sector, which brought stricter regulatory measures, increased transparency and greater consolidation, NRIs have regained confidence in the Indian real estate & find it a lucrative avenue to invest in. These factors paired up with the ‘want’ to have a home back in India, make popular markets, such as Mumbai, an investment hub. What fuels the decision to buy a home in India is the depreciation of the Indian currency, which works in favour of NRIs. These buyers are looking to invest large sums of money in the Indian real estate arena, & the safest and most rewarding options are these luxury homes.

    So, we now know what makes buyers opt for luxury homes. And in this respect, there are many real estate developers who have great offerings, but Godrej RKS seems to have caught everyone’s fancy with its rich history & panache. The development comprises Collector's Edition Residences that are inspired by the Bombay Art Deco Architectural style and brings together the 123-year legacy of trust and commitment of Godrej. So, if you want to know what Godrej RKS has to offer, click here to know more.
    (This article is generated and published by ET Spotlight team. You can get in touch with them on etspotlight@timesinternet.in)
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    17 Comments on this Story

    Fernando Ventura Orellana9 days ago
    did you buy it or do we pay you to buy it.
    vh way10 days ago
    If you are looking or searching for a camera I suggest you to go for sony alpha A68K digital camera . The reason is that this camera gives amazing picture quality. Its maximum resolution is 28.2 mega pixels which id very good according to me. its battery life is so good .we can 4-5 hours with the fully charged battery.Its output is just like the real quality of a picture. I bought this camera last year and continuously using it. It satisfied me fully. I suggest to guys to experience this camera. Hope you like my review
    vhways.com
    umaiza khan10 days ago
    small double bed with mattress are the comfortable for small place. Small double bed best for the beautiful location.Sleep as you deserve.
    Read before you invest. Insights on Godrej Properties Ltd.. Explore Now
    The Economic Times