There was a time when palaces used to take up acres of land below. Today, they reach the skies, offering a view of the space unknown. With a design that befits your special personality, these high rises offer the world with minimum hassle
By: Roasie Virq - Director of Marketing at India Sotheby’s International Realty
Posted on: August 22, 2019
Luxury living and the lifestyle associated with it has not just evolved, but also transformed due to an increase in wealth and disposable income in India over the past decade. While the Forbes Rich List 2018 listed 121 billionaires in India, another report stated that the number of HNIs worth over USD 50 million is set to grow by 71 per cent to 4,980 people by 2022, as against 2,920 people in 2017.
This demographic of super-wealthy Indians want their lifestyle and assets to reflect their aspirations and advocate their success. They embody a strong sense of purpose and optimism to attain something out of the ordinary. Wealth, power and influence play important roles in measuring success, which are highly reflected in owning exclusive residential properties. Hence, premium and super-luxury residential projects have seen an increased demand across key metros, and a renewed interest from HNI and affluent non-resident Indian (NRI) buyers.
Leading the Change
In Delhi, NCR specifically, there is a growing demand and popularity of super-luxury condominium complexes in Gurgaon and Noida, a testament to the growth of this category of high spenders. A few reasons have contributed to the growth in supply and demand for gated, high-rise luxury condominium complexes, which include growing connectivity across the NCR, the ample space and openness offered, the substantial green cover led by sustainable practices, and of course best in class amenities offered by Gurgaon properties such as Paras Quartier, M3M Golfestate, DLF Magnolias and many others. The Paras Quartier in Gurgaon has set a new trend in spacious high rise living which offers exclusive concierge services and green spaces, making it one of the most serene and peaceful residential properties.
These high-rises are the epitome of luxe vertical living, targeting those who are accustomed to a global lifestyle. In fact, the vertical living concept is all encompassing, and includes penthouses, multi-storey villas in the sky, and even fully equipped service apartments to cater to every whim and fancy.
Today’s buyer is evolved, global and discerning in their tastes and outlook. Their points of comparison include the best in class residences around the world. For these buyers, luxury is in the details. Having easy access to recreational activities, shows and movies at your personal amphitheater, babysitting services, onsite laundry, etc are all on offer. Well-managed sports facilities like tennis courts, fitness and wellness sessions led and run by globally renowned experts, and award-winning golf courses make these home owners part of an exclusive community. A community that is like-minded, diverse, discerning and aspires for nothing but the best. This modern apartment in New Delhi offers a health club, state-of-the-art gym, multipurpose gym and is located in close proximity to Delhi’s finest wellness centres, schools and shopping areas.
Stylish Space, Minus the Hassle
These residential landmarks come with the added advantage of being open plan layouts, e.g. the Golf View apartments in Gurgaon. They are tastefully decorated and enjoy a heightened level of luxury, comfort, security and privacy. They are either fitted out by celebrity interior decorators, with the plushest fittings, or handed over as a shell for their owners to adorn and decorate in their own personal style. Floor to ceiling windows in all rooms, walk in closets, pantries and additional space for housekeepers and staff are other value adds that are most sought after these days.
Another aspect of vertical living is the outsourced infrastructure management. This takes away the hassle of managing and maintaining the home which is inevitable with sprawling single property villas. The vertical high rise villas also come with automated security systems and other logistics. The modern apartments in New Delhi’s DLF Queen’s Court benefits from state-of-the-art technology systems, including digital security and surveillance systems.
Delhi’s NCR has witnessed a trend of older buyers, moving from bungalows in Delhi to the comfort of gated communities in Gurgaon, often driven by investments by their NRI family members, or simply looking for plush retirement options. Technology and smart homes are buzzwords for the millennial home owners too, who look for convenience and digitally savvy options where everything is at the touch of a button.
With the increase in disposable income and affluent lifestyle desired by young professionals, there has been a 50 per cent growth in demand for luxury homes in some parts of India in the current year as compared to the previous year, as per industry estimates. The share of luxury housing segment is at 4-5 per cent of the overall housing market. This figure is set to rise as the number of affluent people goes up in the country.
With 23 years of experience in PR and Marketing, most of it in the luxury brands space, Roasie is one of the most well-networked and well-respected professionals in the Indian luxury industry. An expert in image building, she has been instrumental in launching several International luxury brands in India over the last decade in the fashion and lifestyle space. Today, Roasie is Director Marketing at India Sotheby’s International Realty.