CONSIDER THESE THINGS BEFORE INVESTING IN A LUXURY PROJECT
Until very recently, the phrase ‘luxury property’, merely implied the superior quality of infrastructure and amenities that a premium, up-market residential project had to offer to its residents. Now, moving beyond mere product offerings and the four walls of a home, the very word ‘luxury’ has come to imply a more personalised and experience-based phenomenon, which places the customer at the centre of all attention.
This shift in perception can be attributed to a variety of factors such as changing customer lifestyles owing to greater global experiences and travel, as well as growing incomes and standards of living. Customers with higher disposable incomes and a desire for an international lifestyle, have slowly but surely steered
the luxury real estate market in India to be predominantly lifestyle-driven!
Developers leave no stone unturned when it comes to providing facilities and infrastructure for luxury projects. The use of modern technology and automation, path-breaking construction techniques, internationally branded fitments and a plethora of lifestyle amenities and services, in addition to the promise of privacy and customisation, are just some of the mandatory add-ons of luxury properties that developers attract their discerning buyers with. Naturally, the monetary value of these luxury properties makes them incredibly priceless. Hence, it is best to consider a few related factors, before taking the plunge of investing in a luxury property.
Location and Surrounding Infrastructure: One of the highlights of a well-developed luxury property is its location. The more unique the location in terms of its surrounding public amenities, social and entertainment infrastructure, and its air quality and green cover, the greater are the chances of the property value appreciating over time. The extent of privacy the location has to offer, while promising the added advantage of being very centrally located and providing ease of access also greatly determines the kind of neighbourhood to make the investment in. Bhosale Nagar in Pune, is one such locale that is upmarket, bears a great green cover and is in the heart of the city, even while it continues to provide much peace and quiet from the daily hustle bustle and traffic.
Developer Reliability:
Investing in real estate is a huge commitment that involves not just a monetary decision to be made, but also an emotional one. It is hence very important to find a suitable ‘partner’ who will help with the entire process seamlessly. And, this partner is the developer or builder himself! Before signing on the dotted line, it is wise to check the developer’s reliability, his past projects and reputation. Developers of luxury projects usually have long-standing experience and credibility in the particular arena and it is best to carry out informal background checks. It is also necessary to keep a check on all that the developer has promised and has actually delivered, to avoid any disappointments.
Amenities:
One of the key features of any luxury property are the state-of-the-art amenities it offers to its residents. From basic infrastructural features such as imported floorings, high-end furnished kitchens and luxury bathroom fittings, to top-notch branded services such as on-site gyms and spas, cafes and concierge, the sky is the limit to the kind of amenities available. Castle Royale Towers for example, a 3.5 BHK luxury project by ABIL, offers its residents the advantage of 20 acres of expansive lushness along with some of the finest amenities there are to be cherished. Developers also provide the option of fully appointed luxury homes, furnished by prominent design labels, albeit at an added cost.
Safety and Security:
As is the case for every home purchase, safety and security are very vital in the case of a luxury home too. A home, luxury or otherwise is made up of one’s life’s possessions and emotions, the most important possession of these being one’s family. Round-the-clock security is therefore a must for stress-free living. While almost all developers provide mandatory features of safety and security to ensure protection, developers of luxury properties go a step further by providing premium features that ensure complete peace of mind. From CCTV cameras, patrol guards and intercom services, to video door phones and digital locking systems that help prevent thefts, developers also ensure the physical safety of residents by installing superior firefighting, electrical equipment and fire alarm systems across the entire projects.
Buying a luxury home is almost like a dream come true! Therefore, it is always wise to equip oneself with the right knowledge and the correct questions to ask. Patience goes a long way in searching for the right kind of luxury property, as do these features to look out for. Happy house hunting!
