For years, everyone defined luxury, at least in the real estate industry, in terms of the per square area of your home or apartment. However, the increasing trends of skyscrapers and gated societies are changing that perception slowly. Today, we define luxury apartments on the basis of location and different amenities that are included in the project blueprint along with other such features.
Customers are looking at luxury in a more wholesome way, which is helping in reinventing the whole concept. Many up and coming building projects in Noida are a big example of this new trend. If you look at these areas, they have everything that an upper-middle class family needs while working in NCR.
The strategic location, open spaces, societal bonding as well as world-class schools and universities, mixed with lower living costs make this area apt for living.
Read on to understand how luxury is defined today in the real estate market of India
#1 – Price Of The Property
Interestingly, luxury real estate itself is divided into two important segments – uber luxury and mid-luxury. In a market like India, only 1% of the population can, in fact, afford to invest in the ultra-luxury apartments. Such deals usually happen on an invite-only basis.
As a potential home buyer, you should definitely look for mid-luxury apartments as these properties are more likely to be available at an affordable price, but with almost all the premier qualities of the ultra-luxury segment. These also do not require the hefty signing amounts, which make them the first choice for almost every buyer.
#2 – Location
Prices of properties always varied on the basis of location. However, today a new trend you can see is that developing areas like Noida and Greater Noida are propping up with beautiful luxury projects.
Green spaces, proximity to offices, good connectivity and economical as well as social development make these places great for community living.
Think of Noida Expressway, a person working in corporates in Noida will find that location preferable as compared to living in Delhi or anywhere else in NCR and face terrible traffic every day while commuting. Bigger, better apartments are thus being built in the luxury segments in that area.
#3 – Features
It is also important to look at the features and amenities of these luxury apartments. It is quite expected that the material used to build such apartments is going to be top notch.
You will find most luxury apartments with world-class fittings and finishes. However, the amenities that come with the apartment are also important.
Usually, you will get gated societies with 24*7 surveillance, world-class interiors in lobby, huge parking spaces and lifts.
For example, look at the Gulshan Botnia homes, they come with all these advantages along with features like clubhouse, swimming pool, badminton court, jogging track, AC gym and much more.
Developing localities like Greater Noida and Noida are changing the face of luxury real estate, which is why you should definitely explore luxury properties in such areas.