Real Estate has always been a topic of discussion for a host of investors and analysts in Mumbai. The city has never backed out in terms of Real Estate, despite repo rate hikes and home loans, the sector still seems to be at an all-time high. Additionally, as per a recent Knight Frank report, Real estate registrations were 11% lower in February 2022 compared to the previous year. But in the face of all these challenges, the industry has picked up the required pace. Mumbai being one of the wealthy cities in India has always seen an upward in the luxury real estate market.
The luxury segment is gaining momentum with sales picking up across the city and builders in Mumbai offering a myriad of options. But this is all about numbers and stats, what exactly are luxury homeowners looking at in this segment concerning investment and the elements that entice Mumbai’s HNIs into investing in the realm of luxury? Let’s find out below.
How Would You Define Luxury Living?
Luxury means different things to a set of different people. In India, luxury has different facets, right from unique and high-standard amenities and features to be able to invest in prime locations. Mumbai goes on to have varied definitions of luxury that also include your conveniences being in proximity to the vicinity of the project. The main aim is to provide home buyers with a luxurious and comfortable experience. There is no definite definition of luxury housing and this factor is dependent on different elements like location, amenities, accessibility, privacy and much more especially in Mumbai. In this city to be a resident of a popular suburban neighbourhood too is considered a luxury. Hence there is no definite outlook to define this term.
In The Playground Of Opulence:
Homebuyers today are looking for homes that exude extravagance and exuberance. Architecture that is not only spacious but also one of a kind. The very core of luxury has transformed the consumer viewpoint. Modern luxury homes have become the playground of opulence and have seen a significant rise in sales in the past year. Contemporary luxury living is defined as residential properties that offer the final mile of comfort and safety as well as a profusion of modern concrete amenities that maintains an appropriate balance between luxury and comfort, thereby enhancing the resident’s lifestyle.
The Demand Is Uprising:
The demand for luxury property in India has recently increased. The expansion of the Indian economy, which has generated a new class of HNIs with significant purchasing power, is one of the key causes behind this. They are eager to invest in luxury living spaces that provide exclusive amenities, first-rate services, and cutting-edge facilities. The changing lifestyles and aspirations of the urban population are another reason for the increased demand for luxury housing in India, especially in Mumbai. Many individuals now look for a comfortable and elegant living experience, resulting in a rise in demand for elite apartment buildings that offer a variety of amenities, including swimming pools, health centres, and landscaped gardens, builders in Mumbai today ensure to deliver the best of their offerings to customers.
Individuals are showing no compromise when it comes to what they expect from their potential homes in Mumbai. Space constraints have been a current housing issue that developers have been tackling to solve. But with luxury projects, homebuyers are getting the advantages of spacious homes, top-notch amenities, and views – homebuyers are given a complete package by developers. One such brand in the industry is Supreme Universal, one of the most reputed builders in Mumbai.
Supreme with its 40-year legacy has crafted some of the most elegant and luxurious projects donning the skyline of Mumbai. One such project is Supreme Evana, located in Mumbai’s most popular suburb Bandra. Evana’s flats for sale in Bandra West reflect its intrinsic grandeur, elevating its exclusivity quotient a few notches higher, with a handpicked choice of luxury 2 & 3 BHK flats for sale in Bandra West in a 15-story setting tucked away in the calm, affluent pocket of Bandra West. Supreme Evana’s luxury oasis comes with some top-notch amenities like a rooftop party lounge and wellness deck, a fully equipped gym, landscaped zen garden, sundecks in homes, and more. Supreme Evana brings to you homes that emanate perfection in every way, from its liberating vastness to the inspirational artistry of its architecture.