Luxury Apartments in Mumbai
Indians today have a keen understanding of global trends and are becoming rather savvy in terms of their lifestyle expectations. It seems as though “luxury mania” has hit the people of Mumbai. No longer are they satisfied or willing to settle for the run of the mill type of apartments. If you have the money, live in luxury is today’s mantra. Real estate developers are cashing in on this growing trend in the market and you’ll find a number of real estate developers who are catering to the luxurious needs of the people. Moreover this demand for luxury is fueled by the NRI community, who are interested in investing in high end apartments.
Because of the exclusivity that it demands, luxury apartments today, are unique both in design and architecture. Moreover the location of these apartments need to be in strategic locations. Amenities and facilities are expected to be top notch, and people will settle for nothing less.
Unlike the trend abroad of fully furnished apartments, Indians are still unwilling to opt for a full furnished apartment. While the majority prefer the flexibility of choosing their own furniture, a number of people are quite open to the fact of choosing a partly fitted-out apartment i.e. modular kitchens; living rooms with extravagant light fittings, swanky ceilings and some other portions of the home also fitted out.
Luxury Real estate developers such as Hiranandani, Lodha, Kanakia,K Raheja are some of the well known names in this luxury segment. Intense competition amongst luxury real estate developers has resulted in an increase in the level of sophistication and luxury innovations, and the lucky winners are the end users, who have more luxury apartments to choose from, and are thus ensured an enriched life.
Ambi Valley Gated Community
Another trend in luxury real estate in Mumbai is gated communities. Akin to Brazil’s ‘Condominio Fechados’ (closed housing estate) or Argentina’s ‘Barrios Privados’ (private neighborhood), more and more cash-stacked Indians today are seeking the security and the luxury of living in a ‘Gated Community.’
Gated Community is a form of a residential complex, sometimes characterized by high walls and fences with controlled entrances for pedestrians and automobiles, surveillance of those entering the premises, clean streets and amenities on a par with a dream luxury resort. The concept, already popular abroad, is making a foray into the country as NRIs returning to their roots are looking for the security and amenities of gated communities.
These communities offer the perfect getaway from everyday civic problems, ranging from water cuts, pebble-strewn streets to living with the stench of un-picked garbage cans.
Security is one of the key features that a gated community offers, says Edward, deputy marketing manager of Puravankara, a leading real estate developer.
Special security personnel man various entry and exit points. A closely connected set of security personnel feed information on visitors entering the premises and save residents the pain of answering umpteen doorbells rung by salesmen or other unwanted visitor on the premises.
With many professionals who keep shuttling between India and countries abroad, security of their homes is a big challenge, says Edward. “An independent house or just a regular apartment does not offer that security. But in a gated community, these residents can leave their house for some months without fear of being broken into or tampered with.”
But it is not just the security, but also the amenities, some of which border on ‘living life king size’, which are getting the cash-rich professionals hooked on to these communities.
An upcoming 275-acre integrated township offers its residents the luxury of catching a helicopter shuttle to the new Bangalore airport virtually from their doorstep! The township will have its own helipad to enable residents take the helicopter shuttle. The chopper will also double up as an air ambulance to lift critically ill residents to hospital for emergency service, doing away with wasting precious minutes in traffic jams. In a bid to woo this high-end segment, developers have begun offering amenities of international standards, albeit at a premium cost.
These residential complexes resembling luxury hotels boast of swanky swimming pools, saunas, clubhouse, spas, dedicated areas for jogging freaks and fitness centers, well manicured lawns, vast green stretches of golf courses, cricket pitch, shopping malls and multiplexes. Self-contained entities are also perceived by some as an attempt by the nouveau rich to segregate from those who do not fit into their class.
Neighborhoods with fancy names like 10-Downing or Inner Circle tend to reinforce that perception.
{ 4 comments… read them below or add one }
I completely agree .. the demand for luxury apartments is constantly on the rise … and most of them like to have a unique interior design .. even if they are in the same building …
its really challenging for the builders .. but it is paying off in the long run …
The communities will superiority relaxed and a upsetting assemblage of designed services.
One of the the majority significant financial and personal decisions we will make in life, it should also be one of most enjoyable experience.
It will be interesting to see that after the recession, whether there is still a need for these luxury apartments in Mumbai.