Luxury homes from 2 crore to 20 crore. What does the future hold? Any takers?

If you consider the 1.53 lakh high net worth individuals in India, the number of luxury home options are few and far between. These individuals are well travelled and do not want to settle for a less convenient lifestyle. In fact luxury is in the heart and soul of everything they do.

Take the case of Rajiv Lodha (name changed) a high flying business man who hails from North India but is now settled in a Luxury villa in Bangalore he bought in 2008. For Rajiv, the villa which he bought for 1cr + then is already getting a tad too boring. You may ask why.

ITC Grand Chola in Chennai which was launched recently

For a man used to plush experiences wherever he travels, his demands are justified. Hotels like the ITC Grand Chola in Chennai with a 30,000 sq.ft ball room, spa, luxury retail options or the  Lebua hotels which has a cover charge of $400 per person, with a limousine pick up service and mouth watering Muglai cuisine, Rajiv has experienced it all. No wonder he yearns for more.

This is not a fad but an emerging trend in countries like India and China where the  new segment called the middle affluent class is more and more luxury conscious by the day and are not bothered too much by price but more by the value for investment. 

Rajiv here is looking forward to the Real Estate luxury show which will open in Mumbai soon and then come to Bangalore and Delhi. He has his eyes set on Skyline Villa Maria which is priced between 12 to 22 crores and is shown only to a select few by invitation. At Nandanam Consultants, when super luxury projects are launched we do consult with developers on luxury homes which are always showcased to a select clientele. Some of these are Keralites from both the salaried and business community who are living a plush life abroad in US, Canada, Europe, ASEAN and Gulf countries and are considering to relocate to India in the future.

SuperNova in Noida

And the options are mouth watering for luxury home buyer. From the Armani designed SuperNova apartments in Greater Noida which start at Rs. 20,000 per square feet to the Lodha residential tower in Mumbai, the total cost of the 180 plus projects launched in India in the luxury space over the last four years is estimated to cross 100,000 crores in value  with each project being owned by 100 to 200 select clients.

From a Kerala perspective although today the focus remains on mid segment housing, developers in consultation with us are already considering super luxury homes and planning invitations to select customers. Some of these buildings could start appearing in Kerala's skyline within 3 to 4 years.

As the affluent middle class dreams bigger, the real estate sector is preparing a delicious meal filled with savvy luxury amenities and services to tempt their taste buds.

Watch this space for more luxury development and updates in this segment in the coming months. As always we look forward to your comments and suggestions on our articles. Until next time. Adios!