"Privacy" Lures Wealthy Home Buyers

Bangalore: Around the globe, real estate developers are offering luxury apartments by taking privacy to a new level with top notch specifications to attract wealthy home buyers.

As the stream of new residents is expanding in India with the raise of work opportunities and hike in compensation, wealthier home buyers are looking for a sophisticated life with security, privacy and great climatic condition. The exclusive and small suburbs offering luxury abodes which are being advertised as “private” are increasing and luring well-heeled home buyers. Along with wealthy peoples and NRI’s, many renowned families are also investing in such type of exclusive homes.

After an interlude of many years, Indian real estate developers are developing luxury, super luxury and private homes in two prime markets of India like Mumbai and Delhi.

In the price segmentation listing, we can notice that the average home buyers’ pleas to “beautiful” homes where the wealthy one appeals more attracted homes which are listed as a “Private”.  

To attract the home buyers’ interest, real estate agents use references, home attributes to portray home listings like luxury and mega luxury segments. Luxury units are ranging $1 to $3 million and mega-luxury units are ranging $3-$5 million and $5 million and over are prompted as private segment. In addition, an abode having a guest house, fireplace and a wall of windows is advertised as a term “Private”.

The typical homes which are priced under $1 million were being advertised as a well maintained home with cargo space to draw potential home buyers.

The homes, which ranges $1-$5 million has higher demand and these types of homes are consistently advertised as a guest house, ocean views and media rooms.

The homes, which range over $5 million and being advertised as Private homes were appealing wealthy home buyers as it is equipped with a wine room, pool house and home theatre with sea confronting.

In Mumbai and Delhi, renowned developers like Lodha Group, Indian Bulls, Omkar realtors, Arving Realty, Runwal Group and Godrej Properties have launched their residential projects to offer ultra rich segment abodes.

With these Private abode constructions, India is becoming home to many millionaires and it is expected to grow 100 percent by the end of the year 2023.