Tag Archives: Apartments

Residential Apartments in Gurgaon

Gurgaon is a teeming and bustling township with high rises and offices of multi-corporations. When catering to this large group of corporate and expatriates which have migrated to work in India, residences are a big facility which companies have invested in. This influx of white-collared, well-heeled clientele has given rise to new breed of builders and construction companies which sell on the theme of luxury rather than affordability. Along with commercial real estate, residential real estate has zoomed and grown by leaps and bounds. Residential apartments in Gurgaon are a seeming luxury for outsiders and an evil necessity for the residents owing to the sky-rocketing rentals.

The craze and curiosity is so loud around these uber-luxury apartments that IMRB has conducted research on top luxury residences to check on the effectiveness of all this luxury.

Some of the famous names in luxury in Gurgaon are – Hamilton Court, The Laburnum, The World Spa, Aralias, Raheja Atlantis, Gurgaon One, Wellington Estate, DLF Park Place, Belvedere Towers, Orchid Petals, Jal Vayu Towers, The Close North, Vatika City, Ridgewood Estate and Sispal Vihar AWHO Society.

Apart from the residences for uber-rich, upper middle class also has a wide variety of apartments to choose from. Seeing the rush, the government has also come out with the affordable housing schemes in Gurgaon with the obvious drawback that these apartments will be in new locations which probably have less connectivity right now.

Rents for good 2 bhk will start anywhere from Rs 20,000 to no limits, depending upon the sector preference, amenities in the apartment complex and proximity to necessities. Builders are trying to build the housing complexes into a complete township with even entertainment options and necessities such as malls, theatres, schools, hospitals.

Gurgaon residences have become a big investment asset in the kitties of many ultra-rich with even though with high EMIs, the rental increase is making these buildings very profitable for their owners. Designer custom made apartments such as in Huda Plots, DLF, Sushant Lok, South City and Sohna road are the prime locations.

After all this hype and hike in prices, people have had to resort to shelling out high premiums to builders for getting bookings done in the affordable housing category. Haryana government is working on streamlining the booking process and making it transparent on the internet portal.

The biggest issue in Gurgaon housing has been lack of civic amenities such as drainage and piping which was an issue even with high rises where waste would not disposable. Other issues are power cuts and crime rate.

Gurgaon, also known as the Millenium City is expected to have around 2,500 multi-storey towers by 2018. With poor local transportation and an average flat costing Rs 75 lakhs, affordable housing seems like a dream in Gurgaon. For Gurgaon to not just remain a luxury and Richie rich destination, government will have to pro-actively work to make the wheels turn and resolve complications for affordability.

Tips To Find The Best Apartments for Sale in Colombo

Understanding The Market For Apartments For Sale And How To Decide On The Type Of Property You Would Want To Own In Colombo

Popularity Of Apartments For Sale

With the growth of the economy in Sri Lanka, there has been an increased focus on the real estate market within the island as well. Due to the higher concentration of development occurring closer to the capital city Colombo, it has also increased the demand for property either for purchase or rent in the vicinity. But such rapid developments and increased demand has also led to a scarcity of free land available. Since the need to buy home properties has to be provided with a solution, many leading apartment builders have begun several projects to provide potential homeowners with viable solutions to choose from. This sort of developments is supported by statistics that indicate that the entire Western province covers only 6% of the country’s land areas but close to 28% of the population seek to make their homes in the area.

Since this trend has been on the rise during the past few years, now you can find many apartments for sale and also apartments for short term rent that can be chosen according to your requirements. There are also several good houses for sale available in nearby areas but due to the high prices, they are not suitable for many interested homebuyers. In terms of apartments there are broadly two categories, namely, luxury apartment projects and micro apartments available for consideration.

Types Of Apartments For Sale

Popularity of luxury apartment projects

In previous times, real estate agents and property developers focused more on offering stand-alone houses for sale. But now, with the limitations highlighted above, these developers have looked to offer those who want to buy home units the option of choosing from luxury apartments. It has been found that the demand to buy apartment that fall into the luxury category comes from the Sri Lankan community as well as foreigners. Such investments made in relation to own properties in Colombo area have also shown high increase in popularity. As per the statistics gathered up until 2015, there have been close to over 2600 luxury apartment units and it is further estimated that this number could reach close to 6000 units by 2019. Such luxury units are also found to be available for those who wish to rent an apartment, giving rise to more and more apartments for short term rent being offered.

Potential for micro apartments in Sri Lanka

Another alternative to houses for sale is the availability of real estate in the form of micro apartments. Many apartment builders have also invested in such projects that have been in high demand among those who want to buy apartment space in Colombo. The target market for this type of property has actually found appeal among the affluent customers who might even want a luxury apartment as well as middle-income individuals who want to invest in such a home for them. Similar to the above category, this type of housing solutions are also available as apartments for short term rent for those who are unable to buy home units by making an outright purchase and therefore look to rent an apartment instead. This opens up the possibility for more home seekers to get closer to their dream of owning a home in a prime city location.

Choosing Between Apartments And Houses For Sale

When you consider purchasing such properties you should be prepared for making the investment. The main decision you would need to make would be in relation to whether you actually want to buy apartment space or you still would like to look out to buy home in the form of a separate house. As a primary consideration when you invest in real estate you would need to decide on the space or size of home. Normally houses in Sri Lanka tend to cover about 2700 sq ft while an apartment would generally fall in the range of 1000 to 1500 sq ft. In addition apartments tend to offer additional services such as security, cleaning, waste disposal and other recreational facilities that are normally not available with separate housing units. But on the other hand, you might want to consider the following that are normally not available with apartments.

  • When you buy apartments you will get a limited parking slot allocation
  • Modifications are not possible
  • Most apartment complexes have restrictions on owning pets
  • Your possibility of engaging in gardening activities is very minimal

Considering When To Rent An Apartment

Due to the various requirements of homeowners there are several other options made available in terms of being able to rent an apartment. Many individuals who would be looking at living in small living spaces for short periods of time can consider finding apartments for short term rent. Since there is a high portion of the population that need to find accommodation to travel to work and for other arrangements in the city limits, this has become more of a financially viable option many prefer. Depending on the requirement you could even arrange to extend the rental period once agreed with the renter. This is also a great way to check whether you can adjust to an apartment style living. If the lifestyle appeals to you, with time, you could also consider owning an apartment of your own.

To cater to much of the demand to wanting to buy apartment properties, there have been several investors and developers who have taken interest in developing projects which are in demand for this market. Among these companies there are several reputed apartment builders operating in the island that have produced several leading apartment projects and have several others lined up as future projects.

A Guide to Better Living in Luxury Apartments

There is an enormous difference between living and surviving, and renting luxury apartments constitutes nothing less than living. If you have never experienced that quality of life, you should know that nothing is equal to it. Some would even argue that they have many benefits over owning a house. There are many reasons for this argument.

Why Luxury Apartments Are More Expensive on Paper

These residences come with their set of expenses. The security deposit will be quite steep compared to alternatives, not to mention the brokerage fees as well as the rent. The rent is higher than that of standard housing, but the benefits versus the extra expense will quickly make you realize that it’s the better option. For starters, when a person owns a house, they’ll need to do all of the maintenance. On the other hand, when renting a cheap house, tenants discover that the owners may not be too keen on holding up their part of the deal when it comes to repairs. Luxury apartments also tend to be much safer, with the added security features plus the fact that not just anyone can get into such a complex.

Design Ideas to Consider

The ability to furnish the place and make more changes than one would have been able to in other apartments is something that most would-be tenants overlook. Many luxury apartments are fully furnished, but there are also some of them that allow tenants to do what they want with the design. Some designs that go well with these kinds of living spaces include minimalist and contemporary designs. A contemporary design will look fantastic in almost any area. It has a warm feel with a more inviting appeal than many other designs. Minimalist designs, on the other hand, are focused on space saving and living with the bare minimum. It would be an excellent solution for singles and people that care for the environment.

Other Useful Tips to Consider

It may not come as a surprise, but these apartments do not always come with cleaners. It is, therefore, advisable to secure the services of a reputable cleaning service. Once you are sure that the house will always be sparkling clean, you’ll be able to focus on other, more important things in life. All things considered, the extra expense is minimal. Keep in mind that your house will be the place that you’ll be entertaining friends and, in some cases, possible future business contacts. Having it clean with beautiful kitchenware for serving guests goes a long way.

In general, luxury apartments are costlier than most of the other alternatives, but the extra expenses are worth every dollar considering what you get. These types of houses are not suitable for everyone, which is why the final verdict will often be determined by a combination of personal preference and budget.

5 Factors That Make Luxury Apartments Even More Luxurious

Luxury apartments are continuously reaching new heights with luxurious interiors, concierge services, in-house spas and Jacuzzis, home automation and much more. Kitchens equipped with fashionable gadgets and appliances, gardens transformed into a natural ecosystem and state-of-the-art entertainment zones.

Developers are putting everything together to meet demands of the ever-evolving base of luxury consumers, which gives a boost to the luxury housing market. Here are some of the factors that make luxury apartments seem to be even more luxurious.

Technology and Home Automation

Luxury homeowners today want it all when it comes to technology and builders strive to incorporate this tech-trend to meet the market demand. With a touch of a button on your smartphone, you can control your apartment’s climate, lock your doors, and control your alarm as well as the lighting system in your home. Technology has enhanced the security of luxurious apartments which alerts the homeowners of any intruders or perpetrators.

Luxurious Interiors

Modern d├ęcor and interior design enhance a spacious layout. The rooms are turned into striking displays with luxurious decorating materials, contemporary artworks and elegant home furnishings. Luxurious interiors enriched with creative artworks and home furnishing ideas are always unique, rich and exclusive. Most lobbies are furnished with braised leather and expensive items that create a bright and beautiful space.

Entertainment is essential for luxury living and one never feels to leave the comfort of their luxurious apartments. Homeowners further extend this trend with amenities such as indoor pools, indoor basketball courts, and lavish sports bars. Gaming and theatre rooms act as the primary source of daily entertainment with smart TVs installed in every room of the apartment.

Efficiency Of Design

Home luxury is defined by efficiency of the design and layout. Some of the top trends for residential landscape projects include sustainable and low-maintenance designs. Indoor and outdoor living starts with ceiling to floor doors that slide seamlessly into the wall, opening into the backyard. Masonry block construction walls in these apartments help to reduce the heating and cooling costs. The roofing is done with better insulation in mind. Some of the meticulous touches that go into the design of luxurious apartments include hardwood floors, and natural stones. Adding natural stones and wood elements give a natural and organic appeal to various rooms such as spa bathrooms, a spacious living room and kitchen, and many others.

Meticulous Landscaping

The inside and outside of luxurious apartments depict an origin of beauty and elegance. Its design elements express a wide scope of knowledge and variety. The meticulous landscaping in the entire compound is designed to evoke feelings of comfort, calmness, and simplicity when you are walking along the elegantly manicured pavements.

Living In A Gated Community

Gated community living promises a unique lifestyle which balances privacy, community and connectivity. Gated communities offer exclusive access to facilities such as swimming pools, game courts, club houses, gymnasiums and much more. With the advancement in technology, home automation systems and strictly controlled entrances make it much safer. A gated community has much to offer in terms of safety, facilities, neighbourly appeal and mostly a luxurious lifestyle. Luxury gated community apartments are built on lush and green environments. The natural beauty of such a home is maintained through grooming and extensive landscaping.

Luxury Apartments – The Next Big Boom

The unpredictable nature of the real estate business has seen a lot of highs and lows in the sale of properties. While many believe the real estate industry is in a bit of a slump across the nation, certain cities have been able to defy odds and post positive results.

In India, the city Kolkata witnessed an increase in the sale of housing units in the last quarter. The city saw a 32% rise in units sold when compared to Q2 in the year 2015, based on data collected from a realty research agency.

Other reports suggested that the real estate market saw a 17% rise in the sale of properties in all the eight metros combined. Researchers stated the reason for the growth in sales over the last quarter has been due to a drop in prices of projects.

Can luxury apartments be the game changer?

While real estate marketers have tried their best to build projects which cater to most, there are a range of projects coming up which target only a handful of clients. Luxury apartments and complexes are being built by real estate developers and these projects are extremely expensive compared to the other projects but with good reason.

Real estate marketers are bringing in top designers and architects from across the world to help design and execute these projects. Most complexes falling under the luxury category feature large sized apartments and duplex flats along with a range of great amenities.

Although expensive, luxury projects are seen as a jewel in the crown for real estate developers, something that can help them stand out from the competition and hopefully bring in a lot of revenue from sales.

Kolkata is also seeing its fair share of luxury projects being constructed. These projects are changing the landscape of the city thanks to its artistic designs. Even though the luxury market hasn’t been the bestselling segment in the city, there are high hopes for the projects.

Most regular apartment complexes feature 2 BHK and 3 BHK flats but luxury projects feature larger flats having 4 BHKs and a lot more to offer to prospective buyers. These flats, depending on the city, cost anywhere between 2 crores to 50 or 60 crores and take longer to sell than non-luxury apartments. Even a single flat sold brings in a large amount of money for the real estate developer.

While residents get the best facilities and cherish the grandeur of living in these luxury apartments, it still is a risk for the real estate developer – the flats can stay unsold for long periods of time. In an industry which has so many projects coming up, the need to have a project that gives the developer a unique identity is of the utmost importance. Since the rewards for building a luxury project outweigh the risks involved, it should lead to an even greater number of such projects coming up in the future.

Looking for Luxury Apartments? 7 Things You Must Consider

A luxury apartment is synonymous to comfortable living. It is a place to call home where you return after a hectic day at work. It’s your living space where you relax. The perfect feeling of happiness while sipping coffee, remote in hand, watching your favorite show on the HDTV. Whether it’s a two or three-bedroom pad, your home must have the perfect blend of aesthetics and top-of-the-line amenities. Here are eight things that you must consider before looking for luxury apartments in a city:

1. An Ideal Location

Apartment living consists of striking the right balance between location, connectivity and ambiance. Before moving to a new housing block, ensure that it is close to schools, hospitals, major highways, shopping centers, transport services and recreational centers. Is the locality pollution-free and has the lowest crime rates? Are there good schools and colleges nearby? How far is the community park? These are some of the questions you must ask your property manager before moving into an apartment.

2. Higher Floors Offering Natural Lighting

Your apartment should not only offer the best amenities, but should also have high ceilings and floors to ensure natural lighting and ventilation. Make sure the property you are renting also offers a panoramic view of the city.

3. The Best Amenities

Whether it is spacious bedrooms, walk-in closets, Wi-Fi connectivity, elevators, state-of-the-art fitness center, parking facilities, swimming pool, jogging trails, social room, modern kitchen appliances, granite countertops or covered balconies- an upscale home must include all these amenities. You must not settle for anything but the best.

4. The Best Place to Party

A luxury apartment is also the right place to party with your friends and family. Gather your friends or loved ones together to host a party over the weekends. You can even use the community swimming pool for hosting a pool party. However, ensure that you do get prior approval from your landlord before the event. Most of the upscale city apartments have an outdoor barbecue area where you can delight your guests by preparing some delicious meat and vegetables.

5. Safety and Security

Most of the luxury apartments do not compromise with the safety and security of the residents. Before investing or renting, make sure it has trained security staff. The building should also have the right fire-fighting equipment in case a fire breaks out.

6. Reasonable Maintenance Costs

Investing in a luxury home is not the end of your worries. You must look into aspects such as the overall maintenance costs of 24/7 Wi-Fi, central air conditioning, electricity, full-time security staff, gym, laundry facilities, and so on.

7. Parking Space

Just like you, your car will need a place to stay. And, just like you, it too will need protection. That is why you need to check the parking arrangements with the property management office. Find out as much detail as possible about the parking area, including additional charges, if any. These tips will help you shop for one of the best luxury apartments that suit your lifestyle. Make an informed decision. Happy house hunting!