What makes an ordinary home luxury!

What makes an ordinary home luxury!

Understanding the definition, context and meaning of luxury in the Indian residential real estate sector along with the the investment dynamics of luxury homes.

In Indian real estate, ‘luxury’ is by far the most-abused word by residential project developers. Any project offering basic amenities is classified as ‘luxury’ in marketing materials, advertisements and pitches.

In the first place, luxury living in any context must necessarily involve generous living spaces. Going by that alone, a 1BHK cannot qualify as ‘luxury’ by any stretch of imagination. Secondly, the interpretation of luxury in the Indian context also includes an element of exclusiveness. In other words, the buyer of a luxury apartment – apart from superior amenities and facilities – also expects to live in a project which offers a certain socio-economic standard as a neighbourhood. Therefore, when a project offers one-bedroom apartments, it automatically disqualifies itself from the ‘luxury’ classification.

Buying a luxury apartment for self-use involves the need for multiple checks and validations. When it comes to buying such an apartment for investment, the need for 360-degree due diligence is even higher. After all, the final objective is returns on investment. If one is considering investing in a luxury apartment, one must understand what the hallmarks of genuine luxury in residential real estate are:

Location

This is one of the most crucial parameters. Though central location is certainly an important qualifier for the luxury tag in India, a project that stands at a central city junction beset with traffic congestion does not provide a luxurious experience.

Very few people buy luxury homes and then hide them from the rest of the world. Most owners want others to see and admire their property. Noise and air pollution apart, this purpose is not achieved if the project lies in a chronic traffic gridlock zone. Finally, the owners themselves must have ready access to markets, schools, colleges, hospitals and offices.

The view available to the occupants is also very pertinent. A project may be genuinely luxurious in its internal specifications and amenities. However, if it overlooks a slum or congestion-prone highway, a graveyard or a hospital, both rental and resale potential take a beating.

Floor-to-Ceiling Height

This is one of the most important parameter to evaluate a project’s true ‘luxury’ value. If the floor-to-ceiling height is less than 12 feet, the luxury feel is severely compromised.

Project Density

There is no ideal thumb-rule for this parameter – however, it is generally understood that a one-acre project should not house more than 60 families. Anything more means that the project does not qualify as ‘luxury’. This is because the available amenities are shared by too many people, destroying the project’s ambience, exclusiveness, convenience and charm.

Parking

Again, there is no specific yardstick by which to measure parking sufficiency. The commonly followed norm is that the number of bedrooms in a project should equal the number of available car parks. A 3-bedroom apartment should therefore have three parking spaces within the project.

Elevators

The mere provision of branded elevators does not suffice in a luxury project. They must also have service elevators with separate entries, to ensure that domestic help and external suppliers do not populate the elevators and lobby being used by the residents.

Security

Inhabitants of a luxury project do not expect to install ugly security grilles over their doors and windows. They expect to have the assurance that their families and property are safe in all respects. A genuine luxury project has uncompromising human security as well as electronic surveillance and safety measures firmly in place.

It takes more than a mere word like ‘luxury’ to place a project head and shoulders above the rest – and thereby make it a worthwhile investment option.

Source:magicbricks.com

For more Information Sanjay Rastogi,     Real Estate Developers in Delhi NCR      Builders in Delhi NCR       Email Us Or SMS :SAVIOUR at 53030

Advertisements

About Saviour Builders

Saviour Builders Pvt. Ltd. is one of the leading real estate developers in Delhi NCR. The Saviour Group is the tantamount to deliver contemporary quality amid excellence and diverse innovation. It has emerged as one of the prominent entities in the real estate sector of India and is into residential, commercial and township projects in and around Delhi NCR. The Group devotes its complete dedication to reach higher and build better. With its immense hard work and loyalty, Saviour has accomplished the dream of delivering various tremendous infrastructures round the city. We intend to provide you with affordable houses in the Delhi NCR region. Some of its significant projects like Saviour Greenisle, Saviour Park, Saviour Street, Gaur City -1, Gaur City -2 and many more have created a new benchmark within the trade. Today, we have our presence at Noida, Noida Extension, Greater Noida (West) and Ghaziabad. We, at Saviour, are building homes based on trust and you are invited to build your future with us. We help you live your dream of living in style.

Posted on November 29, 2013, in Real Estate and tagged , , , , . Bookmark the permalink. 2 Comments.

  1. A peerless blog, full of adequate information required to choose the best deal from available ones. Flats in greater noida west are among the hot deals in present time and pulling in enormous buyers

  2. Your Blog post has exceptionally supportive data. Much obliged concerning share….

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: