Indian real estate might have faced one of the worst slow down in the recent years, but there is one segment that did not cease to lose home buyers’ interest. A recent report indicates that there has been a 50 percent growth in demand for villas living in some parts of the country in the current year as compared to the previous year.
In fact, even when the overall industry faced a downturn in the recent past, it was the luxury segment, esp. villas, that continued to record good sales. The share of the luxury segment, which is currently at 4-5 percent, is expected to rise further in the coming years as the number of affluent people goes up in the country.
Figure states that the number of ultra-HNIs in the country is expected to touch 4.83 lakh by 2025, up from the current figure of 2.36 lakh individuals and 1.84 lakh ultra in 2014. No wonder, the developers are also encouraged and pepped up to launch more projects to appease the home buyers in the luxury segment.
Inside the high-end luxury housing, it is independent properties like villas and bungalows that are attracting more attention from the buyers. Here are a few of the following factors that are attributing the increase in the popularity of villas:
- HNIs no longer wants to live in dense societies with a choked infrastructure. They are looking for exclusivity as well as privacy apart from lifestyle amenities.
- The people in this segment want to enjoy more space, beautiful views and luxurious amenities within their means like clubhouse, swimming pool and amphitheater.
- Higher GDP growth has given birth a whole lot of new HNIs comprising of top executives working in blue-chip companies. These section of people are now looking for high-end exclusive properties which suit their lifestyle in a better way.
The evidence of the trend can be seen in the fact that the maximum buyers in the luxury housing projects like Solitairian Villa, Ajnara London Square, Supertech Golf County Villa, Anant Raj Estate Villa are the top execs in the corporate world.
- There is also a rise in the trend of NRIs and HNIs from different cities buying weekend retreats to escape the madding city crowds. The luxury projects are thus coming up in smaller and quaint regions and locations in the country.