Besides ready homes, properties that are under affordable luxury category are also grabbing the attention of all These kinds of premium properties meet the modern needs of consumers within a specific budget.
Consumer preferences are changing in the realty sector. When It comes to premium real estate, homebuyers are seen to have a liking for a lifestyle that can seamlessly encompass the work-from-home concept while not giving up on the comforts of luxury living.
In recent months, there has been a gradual improvement in demand for luxury residences. Lowering of interest rates, reduction in stamp duty and registration charges in many states, the six-month moratorium, etc, are all contributing to the growth of this sector.
Buyers are largely high-net-worth individuals (HNIs) and non-resident Indians (NRIs) who have sold off assets and gained deployable capital.
‘Real estate has always been an important diversifier in HIE and NRI investment portfolios. Even in these difficult times, developers have been able to attract many HNI and NRI investments. The coming years reflect a positive outlook for the luxury housing segment as individuals are increasingly looking forward to owning a home that is complete tri every aspect – from gadgets, automation to wellness amenities; says Dhiraj Jain director, Mahagun Group.
READY HOMES ARE A HIT
Post Cmid-19, there have been fundamental changes in the consumption of real estate and other popular asset classes.
Developers have experienced a sudden spike in enquiries for luxurious properties that are high on Reality enjoy prime location, and offer ready-to-move-in interiors and excellent connectivity.
Ready-to Move-in homes saw an increased interest among buyers. They come with the benefit of no GST and therefore save five per cent tax for homebuyers, with benefits locking off immediately on premiums RBIs are the meanly seen investing in RTMI homes, as they foresee a rising demand in the days to come,’ shares Area Malhotra, CEO, AM Estate Developers
According to Arun, ready-to-move-in homes In the range between 2 Crore and 5 Crore are gaining massive popularity among buyers. There was an unsold stock of 6.44 lakh units In the top seven cites last year, with 12 per cent of them being RTMI homes
Also, protects located on the peripheries of cities with mass employment are seeing an increased interest among new-age homeowner. The demand for spacious homes has also been, propelled with larger spaces and enhanced security
LUXURY IN A BUDGET
Besides ready hones, properties that are under the ‘affordable luxury’ category is also grabbing the attention of all. These kinds of premium residential and commercial properties meet the modem needs of consumers within a specific budget.
Aspects such as state-of-the-art Infrastructure, spacious Interiors, superior amenities, open green spaces, prime locations, etc., are high in demand among first-time home buyers and investors
Developers are also shifting towards creating technology-driven realty Projects.
‘Luxurious apartments are no longer defined as thaw that tome with a hefty price tag. Everyone dreams of owing a luxury home where they can spend a quality We. The sector laud tits demand and came up with projects that are a cross between affordable and luxury. Middle class segment readily accepted it and showed willingness to spend some mare bucks to get hold of residential properties that gives them the feeling of pride ownership, says Pradeep Aggarwal, founder & chairman, Signature Global Group and chairman, ASSOCHAM National Council on Real Estate, Housing and Urban Development
So, luxury realty has been a welcoming segment, as the end-users and Investors venturing in this segment remained insulated from upturn and downturn of the economy. With more impetus from government projects, this realty segment is poised to grow.