Variety

Living it up in haute homes

Archana Achal | | Updated on: May 29, 2012
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The home is where the heart is, and if your heart yearns for a slice of prime real estate, give in and invest in a luxury home in your city. Living spaces had moved into the luxury arena a while ago and the tempo has been maintained, with builders bringing up high rises and sleek villas every year.

The love for luxurious living, which has been noticed in cities around the world, has grown in India too. In Singapore, SG Global Developments, a luxury property developer has unveiled an apartment fully furnished by Hermès in their flagship development which will be given out on engagements. But if owning something more permanent is what you would like, there are plenty of options here in India. Property developers are looking both within and around the urban centre for space to build their luxury homes. And townships for the uber luxurious are becoming the place to be for those who like privacy for their haute homes. Mr. Jitu Virwani, Chairman and Managing Director, Embassy Property Developments Ltd. says, “India treads a path where people do not want to compromise when it comes to luxury.

With global exposure, people come to know about the latest trends. They want exclusivity in terms of luxury…We expect the demand for luxury residences to continue in India, across major cities.”

High up or down low?

Whether you prefer a view of the cityscape from your apartment on the top floor or like to observe things at your eye-level from your luxury villa, Indian property develops will always have something for you. According to Mr. Virwani, the clientele for each is quite different and determines their preference. “There are HNIs and expatriates who are inclined towards choosing independent villas whereas the young entrepreneurs and newly-weds opt for luxury apartments…some prefer a high rise residential development for the advantages that the apartment complex offers like security, views…there is a proclivity towards gated communities as well.” Embassy Property Developments themselves have different properties to suit your every luxury living need like their high rise Embassy Pristine apartments and their ultra-luxury Embassy Boulevard villas in Bangalore.

Location lookout

Every customer and builder keeps the location of his project or preferred home in mind and nowadays, the golden ticket for luxury builders is the closeness of the home to a fully developed golf course or other luxury recreational centre. Some builders prefer to create golf courses within their gated communities to add a feeling of exclusivity to the entire area. The Prestige Group's Golfshire property near Bangalore has already created a lot of buzz, with its ultra-luxurious mansions and 18-hole championship golf course. The city matters too, and Bangalore seems to be a hotspot for builders now with Mr. Virwani stating that the number of corporate offices being set up in the city, giving rise to residential areas around the offices and the possible value appreciation are the primary reasons for their focus on Bangalore. Growing business hubs like Gurgaon are a major draw for real estate investors and builders.

The discerning customer

The clientele for luxury homes is seen to be one which is expanding every year. According to Mr. Virwani, their taste and demands are getting more international as well. He says that this is a good development as it helps raise the standards of luxury living.

Also adding to the demands of the Indian home buyer is that of NRIs, who seem to be interested in the Indian real estate market for the potential it holds, he added. Ratings matter as well, as clientele prefer establishments that have had a history of good LEED ratings from the Indian Green Building Council, the best of the best picking up Gold ratings from the council for their properties. Apart from good customer service and on-time delivery of the purchased space, Mr.Virwani stated that high standard of furnishing and high-end specifications for each property are important.

For recreation, no longer do gyms and clubhouses satisfy the luxury home customer. They demand more than that, and rightly so. So even if gyms and clubs are a part of the amenities, the focus is more on providing something that is unique to the resident. And for Embassy, this comes in the form of tie-ups with international concierge services like “Quintessentialy”. They provide luxury lifestyle amenities that will be unique to the Embassy properties and this is what will set them apart from the others.

They have also introduced a hospitality division to cater to the whims of their tenants. Luxury living is all set to go to new heights in India.

archana.a@thehindu.co.in

Published on May 29, 2012
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