What is luxury to Indian Real Estate buyers? Is it the location, the price-point, the neighborhood, the other buyers or the hype created by the developers? Does it differ among the various buyer segments in India? Is it bought out of income or wealth? All these questions are prevalent when we speak of luxury living in context of Indian buyers.
To comprise in short, “luxury is owner’s pride, neighbors’ envy”. The term Luxury owes to the now much prevalent concept of possessing all the desired high end amenities within the boundaries of the apartment that you are residing in. But the catch is that only a very small segment can buy luxury homes that are, basically, large houses with amenities such as club houses, swimming pools and crèches.
The meaning of luxury has greatly changed over time as in earlier times. The now rife luxury was not even heard or thought of in those times and luxury merely meant a penthouse at the top of a building. But now, there are entire buildings comprising such houses, each of 5,000-10,000 sq ft floor space. True luxury corresponds to exclusivity and is something that one vies for.
Luxury is a lifestyle statement and location does not make a difference to it as long as you can define your social and financial standing by way of amenities—surveillance, wireless internet, clubhouses and gyms. Today’s individual is globally aware; people have the wealth and are aspiring to move into luxury homes. Some developers are also creating Spanish and Mexican ambience as people who are enthralled by the foreign lifestyle wish to recreate that lifestyle back home.
Our economy has done well even though there has been a global and local crisis. There is a lot of influx of money that has also fuelled the real estate growth. The buyer’s quest is to get something exclusive and in that case they are ready to pay the hefty amount to the developers but they need to make the buyer feel that he is getting something exclusive. For a person looking at luxury, the price point really does not matter to a great extent owing to their snobbish trait. This predicts that Luxury housing in India will grow by 30 percent between 2013 and 2016, but it is the super luxury segment which is growing even faster.
Whether you are looking to find your dream home, perfect vacation rental, an outstanding development, www.samiah.co.in is your key to exclusive luxury living.
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