Tag Archives: Apartments

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!