India’s luxury real estate market is on the rise, with a marked increase in sales of high-end real estate properties. The rich are now looking out for homes that are classy, chic and that come with all the basic amenities. Because of this, the market for high and luxury homes is expanding in different regions of the country.
Rise of The Indian Premium Property Market
In the last decade, the number of individuals with high-net-worth (HNIs) and billionaires has also increased in leaps and bounds which in return has fueled the economy of India. This economic advancement can be seen to a great extent in the real estate industry which has evolved comprehensively due to the demand from niche buyers and investors.
What Promotes the Emergence of Luxury Homes and Bungalows in India?
The increase in the demand for so many luxury homes and commercial buildings in India can be traced back to various factors. The buyers of these real estate investments are interested not only in the buildings but also features such as lavish spas, luxurious private clubs, infinity pools, et cetera. These additional factors make luxury properties more appealing.
Luxury property’s favorite locations
There is an uptrend in the development of luxury properties in some of the most sought after real estate locations in the Indian subcontinent. Be it a sprawling city or beautiful suburbs, these properties strike an impressive balance between seclusion and reasonable amenities. Such factors help draw potential buyers who prioritize both comfort and recognition.
Major Developments in the Indian Luxury Residential Market
There has been interest across income groups in these luxury properties due to a number of reasons, some of them being:
- Increased Affluence
Lately it has become lucrative to invest in high-end luxury real estate which goes hand in hand with the increasing affluence of society. In the post pandemic world, many people are looking to Zoek new properties which adds further heat in the high end property market.
- High end features and Amenities
High end residential properties today offer high end luxury features since construction companies are also adapting such unique capabilities into their new projects. This evolution is attractive for those looking for much more than just another property — they want an aspirational property.
- Improvement in the Standard of Living
Well developed metro systems, roads, and airports add many reasons to why luxury properties are desired. Such development has led to the establishment of high end neighborhoods looking for such conveniences and a suitable standard of living to go along with it.
- RERA and GST Impact on Luxury Real estate
The most salient features of RERA Act and that of GST have assured greater transparency in the buyers’ confidence in the luxury real estate market. Such laws have streamlined the processes of buying and have further fostered investments in the sector
Scope of the Market – Future of Indian Luxury Real estate
The period over the next decade is likely to witness an even higher demand for such luxury properties among the buyers. As developers venture into Tier 2 and Tier 3 cities, the variety in offerings for luxury homebuyers will increase.
Conclusion
The Indian luxury real estate market seems to be on the accelerating edge because of great number of wealthy homebuyers entering the market and craving for better living standards. This sector has a huge scope for investors and buyers due to the fast enriching infrastructure and many new advancements in development.
If you are keen on investing into the market of Indian luxury properties, Dream Location has a wealth of knowledge as well as customized strategies to assist clients in locating their ideal investment.