Reasons Behind the Growing Popularity of Luxury Apartments

Luxury Apartments

The housing preference of the urban population of India is largely influenced by the high exposure to the cosmopolitan global lifestyle. The contemporary urban dwellers typically desire to set up their residence amidst modern environs where they can enjoy community living and premium amenities. The boom in modernization and globalization witnessed in India has played a major role in boosting the demand for luxury residential units in the country. The demand for lavish residential apartments on Sohna road of Gurgaon, and other such posh neighborhoods has especially surged up over the last few years.

The high demand of comfortable and luxurious accommodation facilities here is largely driven by the rising living standard of the Indian urban class, as well as the increase in the disposable income of the industrialists, bureaucrats, civil servants, doctors, lawyers, software professionals, and businessmen of the nation. These affluent individuals desire much more from their house than just four walls and a parking lot, and strive to lead a life of optimal comfort.

People work hard to earn their income and enjoy a good living standard. They subsequently desire their affluence and class to be reflected in their house as well. As a result, people often choose to invest in luxury apartments on Sohna road and other such posh residential neighborhoods, where they would be contented in settling down with their whole family and spending their entire lives.

Here are a few of the major reasons why modern urban dwellers commonly opt to invest in luxury residential units:

• Status symbol: A house is considered to be much more than just a postal address in the modern world. It largely defines the living standards of its residents. Living in a luxury apartment is a matter of great prestige and plays a major role in reflecting the high class and sophistication level of the homeowner.

• Security: The high-tech security features present in luxury residential units are one of its biggest attractions. With the growing crime rates in large urban centers, investing in a house that is equipped with a state-of-the-art security system has become a major priority of urban dwellers.

• Good neighbourhood: Luxury apartments can typically be found in the most well-developed and posh neighborhoods of the country, such as the Sohna road area of Gurgaon. In such neighbourhoods, people can get the chance to live alongside like-minded individuals and efficiently socialize and establish healthy personal relationships with them.

• Investment: Real estate is one of the most common and popular investment avenues. Luxury residential units are considered to be a key “performing asset”, which means that such properties gain value, while also serving a purpose. As per many high net worth individuals or HNIs, luxury apartments are an ideal investment avenue that guarantees multiplied returns in the future, owing to their consistently growing demand.

With the rapidly growing economy of India and the steady rise of the ‘demi-millionaire’ club here, the popularity of luxury residential units is expected to consistently increase in the nation. As per certain reports, the ultra-wealthy population in India may enjoy a strong growth of 39% in the next five years, which subsequently would further boost the demand for luxury residential properties developed here.

Leave a Reply

Your email address will not be published. Required fields are marked *