Monday, 23 December 2013

Branded and Luxurious Residences in Pune – Sky is the Limit!

Imagine living in a house which has a living room designed by Armani or an ultra luxurious residence with a name like Donald Trump behind it. Tantalizing, isn’t it? But this can actually happen. There has been a significant growth in the luxury housing in Pune off late. Senior management class, top corporate professionals, non-resident Indian businessmen and high net-worth individuals lead the demand in this segment. Consider  this. The total value of luxury homes, launched in 182 luxury residential apartments, offering a total of 25,570 units across the top 7 cities - NCR-Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Pune and Kolkata in 2008-2012 was around $30 billion, according to a report by Jones Lang LaSelle, a real estate consultancy firm.

The nouveau rich are going bonkers, thanks to the promise of a supremely lavish lifestyle, with befitting amenities and avant garde brands. Pune real estate market has been presenting exactly that, with a host of luxury residential options - duplexes, villas, row houses, penthouses and even 4, 5 BHK apartments. Developers are roping in designers and other aesthetic consultants across the globe to provide an out of the world experience.

These ultra-luxury residences quintessentially feature centrally air conditioned towers with electronic access control, swimming pools and dedicated concierge services. Museums, Graphic artworks, Baccarat chandelier – you name it and there it is! Add to this, some of these luxury residences in Pune even feature helipads, golf courses, sky gardens, etc.

While the usual luxury residences in Pune start from 1 Cr, branded luxury residences can be anything between Rs 4 Cr and Rs 50 Cr, based on various factors. Homebuyers are not just ready to shell big bucks for designer labels, but also want their homes to suit and reflect their individual tastes. In Pune, Hadapsar, Koregaon Park, Viman Nagar, Kalyani Nagar, Boat Club Road, Undri and Mundhwa are the hotspots for luxury residences.  Undri, a comparatively new entrant in this list, is catching up fast. Undri is a good location, in the vicinity of Kondhwa, NIBM, Satara Road, which are well developed areas.  Undri also has enough space for luxurious residences. Good schools like Bishops, then club like Corinthians and vicinity to Katraj Kondhwa Bypass make Undri a desirable location.

Despite the apparent economic meltdown people are making a beeline for these luxury residences in Pune. We need not say what will happen when the economy gets better!

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