India’s Luxury Housing Market Gets A Makeover
India’s economy suffered in 2009 as a result of the global recession, with apartment prices cut almost 40 percent. Today, however, India’s luxury housing market is back in full swing.
As interest in high-end housing grows, developers are scurrying to meet the increasing demand for luxury properties. Several “superluxury apartment complexes” are in the works, popping up throughout India in wealthy cities like Mumbai, New Delhi and Bangalore. They certainly give “living large” a whole new meaning.
According to The Wall Street Journal article, developers are focusing more of their efforts on quality and value, outfitting apartments with amenities like high-quality air condition, home automation systems and personal lap pools. Some of the homes might come fully furnished, and most can be found with elegant and opulent details such as Italian marble and teak floors. Some of the complexes are even being managed by professional service companies.
Space remains a concern for buildings, though, and many are extending their sights toward the sky. For example, Mumbai’s Imperial twin towers (pictured left) are 827 feet above sea level and boast apartments with 10,000 square feet.
To win buyers, developers in India are centering on making their buildings stand out. An eco-friendly building is also way in Mumbai, while home builders in Bangalore are giving their clients an online tool to customize their dream homes. In Bangalore, duplex apartments located in the Windmills of Your Mind project open to terrace gardens and the rooftops are connected to a skywalk, which will be lined with trees and cobblestone streets.
— Kaitlin MacRae
