The super luxury homes costing between Rs 4 crore and Rs 30 crore, which had taken a nosevide during the slowdown, is making a comeback. During the last year, demand for super-luxury homes has increased by 30-40 %.
Seeing the rise in demand, a host of realty companies like Lodha Developers, Orbit Corporation, and Skyline Constructions have developed plans to benefit from a specialized niche – the boutique homes segment
Anand Narayanan KB, national head (residential agency) Knight Frank India said, “Luxury boutique homes are selling a lot better today than volume luxury properties since there is scarcity in this segment”.
These properties are built in small numbers in prestigious places that are in high demand among the super rich. Called boutique homes, these elite projects have maximum of 5-10 units in each. The units will be fitted with ultra-luxurious provisions like personal swimming pools, gyms and lounge bars inside every home. Avinash Prabhu, MD, Skyline Constructions said, “These homes can be further customised to the individual buyer’s preferences”.
Real estate firms like DLF, Ansal API and Uppal are also building prestigious apartments throughout India.
Luxury boutique homes are designed for the HNI sector. This comprises of CEOs, senior professionals, entrepreneurs and wealthy non-resident Indians who want to set up homes in India.
A minimum profit margin of 50-60 % is another reasons why builders are considering this category.