There is a conscious shift in the definition of luxury homes in the Indian real estate industry. Prior to the last decade, large homes with extravagant amenities in popular zip codes or prestigious addresses were considered luxury. However, it has been redefined with the introduction of high-end technologies, global brand associations and customized offerings. This shows up strongly in the real estate market, especially in India’s ultimate tourist destinations like Goa.
Newly discovered ‘posh’ perception has global undertones
Consumers’ perception of real estate investment has completely changed. Availability of luxury housing projects and residences from a few limited pin codes has been arranged with an updated lifestyle closer to the main business centers, making the location agnostic. There was also a large influx of immigrants from other cities and states and a steady increase in disposable income. Working people need a good place to live. As a result, the distinction between luxury and necessity has become more blurred. Luxury is no longer just an extravagant lifestyle or a huge investment. Luxury today has multiple facets. It appeals to today’s purposeful millennials and high achievers, who perceive it as a mirror of their achievements, goals and tastes. Consumers are well aware of international design and development standards due to their extensive worldwide awareness. Clients seeking high-end projects want the best possible deal.
Trends shaping the dynamics of Indian luxury homes
The global village mentality has entered urban lives with the harmonious connection provided by the internet. In the internet age, the rise of the generation Z and millennials who follow different cultures, fashion designs and residential lifestyles has increased. Through TV series and videos, we are exposed to the worldview of NYC’s high-rise lofts, Melbourne’s downtown street-style apartments or classic British bungalows. This certainly formed an ideal urban idea of what a luxury lifestyle and residence should be like in India. International flavors are exotic and paint a new panorama in India’s luxury real estate industry. Some of the prominent trends among the luxury home buying public in India today are:
larger living spaces
One of the most striking trends of the market is the desire for bigger houses. The epidemic has changed our lifestyle. Today, employees are increasingly working from home (WFH). As a result, individuals must separate their professional and personal space at home. The emphasis on overall quality of life, with a special emphasis on health and comfort, is also striking, as we spend a significant amount of time at home due to the pandemic. Separate rooms for relaxation and exercise, as well as larger terraces, are desirable features. Middle- and upper-middle-class families are moving into larger houses because of their desire for a better quality of life.
Gateway to wealth: Gated communities
In addition to premium features, another factor that increases the demand for luxury residences is their location. Since safety and security are considered the most important factors, most people prefer luxury gated sites that do not require them to leave. Contrary to luxury homes, enclosed estates provide a variety of facilities, some are basic to foundation and others are straight forward. Luxury gated estates provide a more holistic living experience as they have a variety of open spaces for walking and jogging. Drive-in cinemas, medical facilities, assisted living homes for the elderly, supermarkets, shopping malls, hotels and schools are some of the luxury amenities available.
Cogently casual and naturally informal
Indian luxury homes are moving away from traditional designs in their dining and entertainment rooms. Consumers seem to prefer less formal and more relaxed environments. The use of more organic materials and fabrics also makes living spaces more comfortable and long-lasting. It is important to have places in your home where you can sit quietly and enjoy the peace.
Office-centric culture is coming home
International work cultures have a long tradition of working from home. Therefore, home-office norms have become a part of the way people live in their homes all over the world. Even in India it has become important to have an office space at home. As more people work from home, a functioning office environment is more important than ever. The purpose of these spaces becomes less important as aesthetics and vitality are at the forefront. Modern floor plans include these areas where they can be used most effectively. A custom home-office design uses the latest technology and creates a smart space that looks good and is stylish. It is also very useful and has everything you need.
As people spend more time at home, they want to improve their living space. In India, people want to live in modern homes that are both luxurious and good for the environment. India’s move towards international standards and styles has also spread to the real estate market, where futuristic global styles are becoming popular in luxury homes.
The opinions expressed above are the author’s own.
END OF ARTICLE
The system is ‘confused’: As the bulldozers roll, the high courts look almost stunned. They must answer
While India is busy burning trains and buses over its conscription plan, China is quietly launching a new aircraft carrier that has stunned the west
Modi and BJP at crossroads: post-Nupur, tensions between grassroots wishlist and GoI’s policy agenda sharper
Baptism by fire: Army pension needs pruning. But Agnipath protests show future soldiers’ concern needs better answers
India needs Agnipath, not retirement road
Bulldozers simply stop: In Prayagraj and elsewhere, improper demolitions are illegal. Courts must intervene by force
Murmu and BJP’s subordinates: BJP’s broader political narrative around marginalization that explains the party’s presidential candidate election, not the Adivasi vote already received
English-Vinglish, Hindi-Shindi: India does not need a national language. Plus, Hindi is growing and English is no longer elitist
Being truly president: 21st century India needs a president who will be the conscience watchdog of democracy
The hot question: Why is it so easy to burn trains? Due to the effective RPF, local police coordination is lacking