Ultra Luxury in Bengaluru Sells, Even in a Downturn
1. Because you get nothing less than a 5 star living experience from the 5 star hospitality majors who dominate this segment- The Leela Group, Four Seasons Hilton Hotels to name a few. who have tied up with marquee developers in the city to deliver the best of the best. With such reputed names on the cards, one is hopeful of high quality and standards in the end product. Plus small indulgent luxuries like a gourmet chef preparing your meals to a relaxing foot massage whenever you need it.
2. Bengaluru has new Millionaires! With a growing number of HNIs from the ever booming IT and start up space, ultra luxury homes seems like the right fix for these freshly minted millionaires. Celebrities too have endorsed these “branded homes” like Deepika Padukone who owns a home at the Four Seasons Residential, while Vijay Amritraj could be your neighbor at the Leela Residences.
3. Uptick in New Launches: Bengaluru has over taken Mumbai with the number of new launches in this segment a PropEquity report suggests. A total of 4,155 units were launched between 2008-2016. Of these 3310 have already been absorbed, this goes to show that Bengaluru’s rich can’t get enough, bucking the trend of the demand-supply mismatch seen in other segments.
4. Some Things Money Can Buy: Super Luxury comes with a hefty price tag attached with it. These ultra luxury homes could cost anything from 4 crores upwards in Bengaluru. This is still a pittance when compared to super luxury homes in metros like Mumbai or Gurgaon where branded homes could cost you nothing less than 10 cr.
5. At Your Beck And Call: Private Saunas, temperature controlled pools, limousine-on-demand you name it and you have it. The list of amenities and features provided to home-owners of ultra luxury homes is endless. Not just that, with interiors and architecture for these projects done by leading international brands, great attention is being paid to the minutest detail.
Reporter- Stacy Linera Pereira, NDTV