Location matters for ultra-rich buyers in India

 

perth-australiaIn India construction developers are trying their best to create new zones, that can attract HN-I property buyers. To attract ultra-rich client’s builders are upgrading design concepts with addition of luxury lifestyle, and to amplify a luxury lifestyle ultra-rich buyers are willing to pay extra premiums to get them. Cities like; Gurgaon, Delhi, Pune, Mumbai and Bangalore have seen a high incidence of developers offering branded residences as alternatives to extra-premium homes. Wealthy buyers are evaluating the branded residences on the basis of location from where they can access all the facilities easily such as; hospital, institutes, offices, administrations and more.

After the Union-budget of 2014, there have been a lot of improvements and appreciation in the real estate market. Demand continues to be robust on premium locations because deals conclude rapidly in seller’s markets where demand exceeds supply. Rate-of-return in such properties is increasing by 25% annually.

Bangalore:

Bangalore is third-largest real estate investment hub. In Bangalore, developers are providing genuine luxury projects in brand-new premium locations. These developers are offering best ever product design and specifications to attract the buyers; some of these projects are good enough to make a remarkable difference. These remarkable projects are turning the simple area into a highly aspiration luxury destination.

Delhi:

In Delhi, the preference of ultra-rich buyers, comes to establish the high-value locations with flexibility. South-Delhi is still as the micro-market of choice for premium buyers from New Delhi, Haryana, Punjab and Uttar Pradesh. Price of property in these vibrant markets is ranging from Rs. 50-300 crore. Vasant Vihar and Shantiniketan are the other destination for ultra-rich buyers. Many of the other cities have the similar real-estate market but Delhi is showing a certain degree of demand diversion to newer locations and concepts.

Mumbai:

In Mumbai buyers are considering and evaluating newer areas like; Mahalaxmi, Bandra-BKC, Worli and more as alternatives. Ultra-rich buyers are looking for the premium property options, which provide premium club houses, 24×7 security and a gated community experience as amplification on their experiences in stand-alone buildings on the premium location. K. Raheja Corp has managed to create a new location that re-defines the premium property experience in South Mumbai and many residents accepting this as a luxury address in all respects.

Ultra-rich buyers look for following parameters:

ü  When it comes to buying a luxury residence, people prefer to live in premium locations.

ü  Rich and famous people don’t like to live in crowded areas, so they prefer location with low population density.

ü  Sea view and level of privacy matters a lot when it comes to defining luxury home in India.

ü  In metro cities people prefer to live in centre of city from where they can access whole city.

ü  When it comes to evaluate the property, people always look for real luxury.happy_family

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