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Bangalore tops as the Luxury Homes market in the Country
23:16
One of the international property consultancy firms says that Bangalore tops the luxury homes market and has set its yardsticks.
The major factors that are making Bangalore city as the top market for luxury homes are the quality of construction, ventilation, design, amenities, floor plans, floor-to-ceiling height, building elevation and alignment.
Most prominently, the luxury homes in Bangalore City the IT capital of the country are priced realistic and far more reasonably when compared to other major metro cities.
The major factors that are making Bangalore city as the top market for luxury homes are the quality of construction, ventilation, design, amenities, floor plans, floor-to-ceiling height, building elevation and alignment.
Most prominently, the luxury homes in Bangalore City the IT capital of the country are priced realistic and far more reasonably when compared to other major metro cities.
The luxury properties in Bangalore priced between Rs.6 crore and Rs.30 crore may look as if overpriced but when compared to the prices in Delhi and Mumbai the prices are 20 per cent to 30 per cent cheaper.
Based on a recent research data, one of the consultants says that the prices of luxury apartment in Indiranagar or Koramangala range between Rs.9000 and Rs.12000 per sq. ft., which is quiet, reasonable. Citing the pricing parameter, none of the major metro cities offer such prices.
Furthermore, on a quarterly basis Bangalore has reported sales of around 100 luxury units along with villas while Mumbai and NCR has hardly seen around dozen of such sales.
According to a data, Bangalore has about 5,400 luxury units that are under different stages of construction and development.
The demand for luxury homes is driven by millionaires from the IT/ITeS companies, high net-worth individuals (HNIs) from Kolkata and Chennai, and NRIs who want to settle down in India.
One of the analysts of the real estate market says that the demand for luxury homes was downcast over three to four financial quarters of the previous year but in the earlier 60 days the demand has surged.
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14 comments
5400 Luxury Homes, That's great actually. Mostly people are preferring for Duplex independent life.
ReplyDeleteThe number is going to be tripled, in the nest 2 years. As people are preferring for Luxurious apartments, Brigade and Sobha properties are coming forward and providing these type of apartments to the customers.
DeleteLuxurious Apartments are mostly held in Indiranagar, Koramangala and HSR Layout. The prices are also not much high for that. Top Branded builders are only providing the Luxury apartments now a days.
ReplyDeleteEven we can include Jayanagar and whitefield also in that list. As most of the Projects are going in whitefield. Jayanagar is the best residential area covered wit full of trees and parks.
DeleteSpecially interior decoration makes a house looks beautiful and Luxurious. Even with the normal Apartments we can make it luxurious with the best Interior.
ReplyDeleteWell said, ananth kumar only the interior and amenities makes any home looks luxurious and beautiful. It is good to hear that in Bangalore also becoming one of the hot location for luxurious homes.
DeleteAfter Delhi, Bangalore has become the center of Luxurious Homes. Offering luxurious apartments in middle class budget is very typical task. Some builders are constructing luxurious apartments with in middle class budget.
ReplyDeleteNow reputed builders are coming with luxurious apartments with mid budget price because of the market competition among builders. on the other hand more NRIs and foreing investors are investing on real estate they are looking for luxurious apartments here, that might be a reason for building apartments in place like Hennur, Kanakpura and Elcectronic City.
DeleteHigh pay in the software companies leading them to buy luxury homes. With this reason even builders are concentrating on building luxurious Apartments.
ReplyDeleteA Home will become a luxurious home, whenever the interior looks beautiful and comfortable and also the wold class amenities. Providing amenities like swimming pool, Jogging track is not an easy task, only the top builders can provide all these things.
ReplyDeleteThe NRI's who wants to settle down in India mostly preferring luxurious Homes whether it is Apartments are Individual homes.Some people are making their home luxurious with in their budget only by making few interior changes in their house.
ReplyDeleteIn the garden city Bangalore, Luxurious homes are also increasing because of It companies and economical growth. After the city like Delhi, Bangalore is the place where luxurious homes are increasing.
ReplyDeleteluxury homes costs around 6 crore rupees in Bangalore, even it looks bigger. But when you compare this price with the market price of Delhi and mumbai, it is 30 % cheaper than those areas. That's why the luxurious homes in Bangalore are getting more demand.
ReplyDeleteBest Amenity work in Apartments with a very well planned interior decoration makes a flat looks Luxurious. Instead of taking an individual house Some builders are offering luxurious flats also. That will be a good choice if your budget is around 1 Crore.
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