Take Your Pick of Luxury Residences in India’s Alternative Markets
The search for luxury homes embraces the planet. The constant upward rise of fortunes one day catapults the individual into the ranks of the nouveau riche or the high net worth individual (HNI) club. Of course we are all going places, some more so than others.
If you were in search of such a property, what facilities and lifestyle were you contemplating? What price range would you be willing to invest and in which part of the country? Some people do have favorite niches, states or languages though life and existence are idealistic in every part of the world!
Where exactly are those alternative markets that would be good enough for the HNIs? Not everyone buys a property for the sake of residence though. Many invest for the future with the hope that property values would escalate as they often do though it is a process of many years. Banks offer little by way of interest and so investment in property would be far more lucrative yet exposed to certain risks involving market forces.
To help would be HNIs looking out to purchase luxury residences, Real Estate consultancy firm JLL India has prepared a list of twenty locations from across the Indian subcontinent that should be universally pleasing.
Lifestyle and status matter so much to the rich and these hotspots do offer the market value and the pride of place. Top notch facilities and locations nearby need to combine with the ambience to be recognized at the top of the spectrum. Prices do matter of course and a vast range does exist far above the usual market value of properties because of superior design, materials, ideas and facilities.
The majestic capital New Delhi accommodates many prime properties! Lutyens Delhi and Greater Kailash offer luxury properties that cost Rs 17,000 to Rs. 22,000 per square foot. Another great wonder called Gurgaon in the vicinity of Delhi has properties priced from Rs. 13,000 to Rs. 19,000 and the areas are DLF City Phase 5 and Race Course Road.
The newly developing software and garden city Bangalore perhaps offers what other cities cannot. The global lifestyle and availability of services distinguish the pleasant climate and a dynamic ethos. Sadashivanagar and Indiranagar are the localities mentioned with Rs. 30,000 and Rs. 12,000 to Rs. 18,000 as the cost per square foot respectively.
In the old world of once capital Kolkata, Alipore locality has properties costing Rs. 15,000 to Rs. 20,000 per square foot. Ballygunge on the other hand may cost Rs. 10,000 to Rs. 12,500.
Banjara Hills and Jubilee Hills in exotic Hyderabad, home of the Nizams, are in demand for luxury properties too. Costs may range from Rs. 7000 to Rs. 14000.
Chennai, Bangalore and Hyderabad belong to the fastest developing real estate markets in India. Boat Club Road (Rs. 27000) and Poes Garden (Rs. 35000) in Chennai are among the hotspots of coastal Chennai.
Pune would be great for residence too and Mumbai the financial capital also suffers from intense demand. Koregaon Park and Kalyani Nagar in Pune offer the best of luxury living. Koregaon Park costs Rs. 13000 to Rs. 16000 and Kalyani Nagar costs Rs. 9000 to Rs. 13000.
Worli (Rs. 35000 to Rs. 60000) and Bandra (Rs. 30000 to Rs. 55000) are among prime locations in Mumbai. Panvel (Rs. 25000) and Palm Beach Road (Rs. 14000 to Rs. 18500) may fulfill your dreams of a great residence at Navi Mumbai.