Increasing demand for bigger and better apartments in Indian real estate
Editor Note: We have no affiliation with any of the companies mentioned herein.
By Vipin Agnihotri
Taking this into account, developers and builders are giving high-end properties that become landmarks in their own locations over time. For example, Pallazo, in Juhu is a ‘By invitation only’ project giving eight exclusive five-bed room apartments, one on each floor, with advanced home automation, a lavish sun deck and even a lotus pond in every residence.
In an ideal scenario a premium apartment is a three bedroom of 3,000 sq ft. Point to be noted here is that the size automatically increases in a high-end unit. If experts are to be believed, very high-end spaces in Mumbai mean apartment sizes of 5,000-10,000 sq ft of eight to ten bedrooms with a terrace or garden spaces and even a swimming pool.
It has come into the notice of The Indian Street that among the most impressive building under construction in Mumbai is Shapoorji Pallonji’s Imperial Towers at Tardeo. Two 65-storeys towers, with 10 levels of parking and two-level lobbies are followed by 28 floors of duplex and another 20 floors of penthouses with options of a terrace garden or a private pool.
On the other hand, Lodha Group’s Bellissimo, a 50-storey tower is located at Lower Parel and has a total of 18,800 sq m of open space where there will be waterfalls and areas for barbeques. On offer are residences that open into a sprawling sky garden and biometric fingerprint that gets you access to elevators and floors.
As an innovative approach, buyers are provided an option for shell apartments or bare walls with no other finishing- therefore the concept of a Designer Home, furnished with your own personal preferences. These unfurnished lifestyle homes minus flooring, plastering or woodwork are still priced between Rs 15 and 40 crore.
It is worth mentioning in this regard that the prices of premium properties in Mumbai differ from location to location. In line with international standards, most high-end premium properties fetch high resale values. Exclusivity is the buzzword in the premium segment market. With builders promising to give the best that money can buy, luxury living is no longer the stuff of dreams.
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