Here's What Defines Luxury In Top Five Real Estate Destinations Of India

For those who have the money, invest in real estate and that holds true for the upper class of the country. Indian rich are buying luxury real estate like never before and some homes may make your jaws drop. These have the best of architecture, design, amenities, and location. Though the high-value token of these properties speak a lot of the pin code, every state has its own price definition of luxury. Here is what the rich Indians are paying to buy a luxury property in the top five real estate markets:

In Mumbai space is luxury

Mumbai leads the clan of being the costliest city in the country. Most homes in the city can qualify for luxury despite their look and the make. If these homes are located in the central zone of the tinsel town, then get ready to shell out a few crores. In Mumbai, a spacious home in a prime location could cost you almost Rs 70 crore. You would be surprised to know that despite real estate crawling, luxury under-construction apartments in Mumbai are available at an asking price of Rs 40 crore. The who's who of Bollywood, industrialists, the traditional rich – all of them have a home here. The most loved locations include Bandra-Kurla Complex, Worli, Juhu, Santacruz and more. Read about Mumbai's Luxury Under-Construction Properties

Bengaluru pays for the feel

Talk JP Nagar, Indira Nagar, Kormangala, Sadashivanagar, MG Road, Benson Town, Lavelle Road — luxury is the second name of these localities. The established outlook of these localities has driven many biggies to invest here. For the residents these localities here have popular retail brands, hangout zones, and restaurant chains. Interestingly, designer showrooms have also taken the cue and hence, are now setting shop close to their target audience. In Bengaluru, social infrastructure plays a critical role in defining a property as luxury. Most of these locations come with a double advantage of not just having a sound infrastructure but also enjoying proximity to the business districts of the city. This allows the residents an easy commute to work.

However, to qualify as luxury in the city, these homes have to also be technologically equipped. Smart automation has entered the property market at various price points. Top developers insist on the need to create luxe spacious homes with a lot of focus on technology and green energy. The price meter is anywhere between Rs 3-30 crore. Read more about this dynamic city.

Luxury in Hyderabad is affordable

Hyderabad's luxury, when compared to other luxury markets in India, is sober and affordable. Banjara Hills, Jubilee Hills, Nandagiri Hills as well as Gachibowli, Hitec City are some of the locations where luxury properties are commonly found. Reason? The traditional outlook of these areas coupled by the advent of IT/ITes and allied industries in the vicinity has shot up prices here. Unlike most other cities, luxury in Hyderabad means you get to choose from a range of villas, independent houses and large plots. You needn't stick to apartments unless you want to, thanks to the abundant supply of properties priced rationally in this category. Know more about your luxury options in Hyderabad. The price meter here is anywhere between Rs 1.5-15 crore.

Chennai is for traditionalists

Pay for really big homes! Yes, the traditional rich in the city pay for the location — Adyar, Anna Nagar, Nungambakkam, and Mylapore are popular destinations. Today, a plot on sale in any of these locations would cost you crores. Metro network is making properties pricier. These locations boast convenience. Prices can go up to Rs 20 crore depending on the brand of the developer, the amenities, fittings and furnishings. Now, the new generation of investors is also exploring upcoming destinations near the East Coast Road and Mahabalipuram. However, that doesn't undermine the popularity of some of South Chennai's most well to do localities. Beach houses in ECR and Neelankarai also invite commercial investors who let out their homes for expats or those looking out for uber-luxury homes and amenities.

Also Read: These 5 Residential Localities In Chennai Give You Plenty Of Bang For Your Buck

Delhi makes way for NCR

Delhi may see subdued interest as of now but that is simply because of lack of land parcel. However, the posh pockets of the capital including Greater Kailash, Safdarjung Enclave, Panchsheel, Sainik Farms, and New Friends Colony etc form part of the luxury brigade. Here old properties are being reconstructed with better design, more space and even new-age facilities. However, the bulk of luxury home buyers whose business interests might not solely be in Delhi prefer to move farther from the city. For that matter, Gurgaon or Gurugram has pulled in many such buyers. Thanks to the region's proximity to the airport, buying into Gurugram is considered value for money. The presence of commerce — widespread in fact across this national capital region (NCR) market has helped popular developers come out with new projects with various amenities. Don't be surprised if you come across projects with a helipad! Check out the plush locations of Gurugram here. Prices in Delhi-NCR could go up to Rs 25 crore.