What Makes India's Real Estate So Expensive?

5. The need for Ultra-luxury projects

To improve lifestyle, home buyers are now seeking homes with an international standard, influencing developers to come up with super-luxury projects. In the current real estate market, developers have started to come up with new trends in the concept of houses, from luxury to super-luxury and now it is the time for themed residential projects. As attitude changes, home buyers are no longer restricted to amenities like club-houses, swimming pools or health clubs; their expectations have moved far beyond these amenities.

“Swanky lifestyle options like recreational facilities, huge parking space, extensive landscaping and trendy architectural designs are quintessential in ‘modern’ homes. With luxury becoming a necessity and people keen to live life king-size, everyone now likes to dwell in aesthetically designed surroundings. So, innovation and unique offerings are becoming the order of the day,” says Ashok Kumar, Principal & M.D, Cresa Partners, reports Economic Times.

For example, there are few developers who have already started offering theme-based homes across the country, such as Lodha Group offers Armani Homes at World One, Jade Jagger designed project at Florenza and Golf course theme project at their Thane project in Mumbai. Adding to it, Nirmal Lifestyle offers U.S Open Homes theme in one of their projects.