Surge in demand for luxury homes in Bangalore

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Bangalore being a metropolitan city and IT hub is witnessing an exclusive demand for premium homes. Bangalore real estate has been experiencing a stable demand for luxury homes in the past few years. Most of the end users of the city want to invest only in luxury segment.

According to Robin Kaushik, an IBM employee, “We are looking for a villa-apartment or bungalows -well equipped with all the premium features and specifications.”

People are looking for furnished and semi-furnished apartment, super luxury villas and condominiums within the city or in the outskirts where they can get every kind of comfort and enjoy a high-end lifestyle as told by Ashok Gandhi, city based realtor.

To bridge the gap, developers are including more hi-tech features to their project to attract buyers. Bangalore is also a favourable real estate destination of foreign investors and thus it is again very important that the projects should meet global living standards. From basic amenities like spa, infinity swimming pool, recreation areas, gym, club house developers are now moving to terrace gardens, Jacuzzi, CCTV, remote control switches, designer architecture floor plans, water-bodies with every apartment, earth-covered villas and smart-homes.

Prominent developers such as Prisha Properties, Skylark, DLF, Unitech, Sahara, Omaxe and Mantri are coming up with luxury villas and apartments in the city. Today people are not just looking a home as an accommodation or investment but as a new lifestyle statement said Ramesh Sharma, another city based property consultant.

Areas such as Whitefield, Off Sarjapur Road, Lavelle Road and K R Puram are seeing demand for big villas. Premium segment saw a 10 to 15 per cent hike in the capital values of apartments in the Jul-Dec 2011 period as told by Gandhi.

The emerging luxury housing trend is driven by big corporate professionals, high net worth individuals and big businessman. The aim to live a world class lifestyle with best of architecture and other amenities where an individual can rejuvenate and relax are the main ideas behind the enhancing demand.

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Source: magicbricks