Count On Bengaluru's Luxury Projects For An Aspirational Lifestyle
It is only normal that the demand for luxury housing in Bengaluru is increasing year after year. For a city where the number of the rich is rising every year, this should not come as a surprise.
In 2013, a survey conducted by recruitment tendering platforms found out that Bengaluru is the city where the highest-paid executives of India prefer to live.
“It (the demand for luxury housing) is more to do with the opportunities the city is offering — the city has to offer a conducive environment for startups, numerous technology and professional colleges, ease of investing and properties that suit every budget. The city is traditional and fluid at the same time,” says Krithik Swaminathan, broker, Art Homes.
Luxury is growing in a new way. Prominent developers are building in Ashok Nagar, Vasanth Nagar, and Sadashiva Nagar. Other areas include Hebbal, Ulsoor, Kodihalli, Bengaluru, Yeshwantpur, Marathahalli, Whitefield Hope Farm, Rajaji Nagar, Richmond Town, Sheshadripuram, Frazer Town, Ramagondanahalli, Hulimavu, Koramangla, Bellandur among others. In the older-established parts of the city, mainly resale units are up for sale.
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What's on offer?
Some of the common amenities offered at these projects include landscaped gardens, swimming pools, car parking facilities, children's play areas, rain-water harvesting systems, round-the- clock security systems, reserved parking for residents and visitors, gyms and meditation centres, jogging tracks, club houses, mini-malls within the society, servant rooms, etc.
One of the extraordinary features of such homes is the design and location.
“Generally, well-to-do luxury home buyers want the same things that all buyers for lower-end properties do, just on a considerably bigger scale. While budget home buyers are satisfied with rudimentary security, regular maintenance of the project and basic fixtures and fittings, luxury homeowners expect advanced facilities and project management that provide a seamlessly comfortable, convenient and visually enriching experience,” says Anil Pharande of Pharande Spaces.
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“They also expect round-the-clock electronic and human surveillance of the premises, smart security and convenience features in the properties, and top-grade international branded fittings,” he adds.
The design and theme factor seems to be the focus these days. London's West End and New York's Broadway are inspiring some projects in the city, too. Therefore, if you are lifestyle conscious or fond of art, cinema, music, there are theme homes to match your taste. Besides, none of these homes are regular in any aspect. There is ample space — such units are in the size range of 3,000 sq ft to 7,000 sq ft.
Who is you neighbour?
“The benefits of housing one's family in a luxury apartment do not only extend to conveniences. Luxury housing projects are also seen as the perfect environment for one's children to grow up in and the adults to socialise in. After all, such projects basically form a society with a certain degree of culture, education and beliefs — in short, better neighbours,” explains Pharande. In fact, most portals today give out information about who your neighbour is going to be.
What's up?
According to PropTiger DataLabs data, there are about 400 luxury projects available for purchase in the city, within a price bracket of Rs 2 crore to Rs 30 crore. Of these, about 200 are ready-to-move-in. These include villas, penthouses and apartment units.
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