Demand for luxury apartments in Mumbai is always high, particularly due to its business and economic prosperity and greater number of high net worth individuals residing in the city. As there is more disposable income in the hands of the buyers, they prefer investing in luxury properties and reside at an admirable address to match their status quo. Mumbai is home to the highest number of millionaires and billionaires ranging from Bollywood celebrities to Corporate honchos and successful Businessmen who desire nothing less than opulent luxury. This has led many real estate developers to curate ultra-luxury projects in some of the most premier locations in the city.
Several luxury flats in Mumbai are available in prime areas, particularly in South and Central Mumbai at Altamount Road, Pali Hill, Juhu, Worli, Parel, Bandra Kurla Complex, Santacruz and Chembur. Especially, the charm of staying at a sea facing residence tops the demand on every home seekers list. The rich heritage, culture and cosmopolitan vibe of the city is reflected in the city’s architectural projects. On one hand, you can find flats embodied under strong stone building structures reflecting the old world charm of Mumbai and on the other, you cannot miss spotting a sky-high architectural marvel rising far beyond the horizons, almost touching the cotton shaped clouds. Mumbai is all about art, history, culture, food, theatre, cinema, nightlife and a lot more and all this has contributed to the growing levels of real estate sector and the need to create a fine luxury segment. Leading developers such as Lodha, Kalpataru, Radius, Indiabulls, The Wadhwa, Godrej and Rustomjee cater to the needs of luxury property seekers by launching innovative living concepts and providing world-class amenities and conveniences to the high net worth individuals. These Luxury apartments in Mumbai can cost anything between INR 3-40 crore depending on the location and other factors. There are plenty of options available if you are willing to shell out a premium for prime property in India’s financial capital.
As year-on-year the number of Indians travelling abroad are increasing, they are introduced to a different style of living and are getting used to modern aesthetic appeal and Smart Living conditions with all the necessary lifestyle requirements being taken care off. Due to this, Indian builders are now pulling up their socks and scaling up their designs and features to match the international standards offering a comparable standard of living to the West and other parts of the world. Today, the Luxury Home sector in Mumbai has carved a niche for itself and its USPs are quite unlike any regular home property project in the city. Luxury homes are generally fully furnished and ready to move in, with admirable state of the art technology, detailed finishes, exquisite features, attractively designed interiors, larger than life ceilings, and a lot more other things. With the advent of integrated Smart Automation Systems in your luxury apartments, you can walk in to your home to the preferred ambience and change it to suit your mood, time of the day and occasion. Smart Homes can be controlled by just a click through phone enabled ambient lighting systems, remote temperature control systems, and smart surveillance technology, which is making living easier and more comfortable while keeping a check on energy consumption. Efficient ventilation systems and innovative construction materials are being used to make buildings more sustainable and energy efficient.
There is also an on-call concierge service to take care of all the mundane tasks of your house, so that luxury home owners can spend their time on productive activities and indulge in ultimate leisure. Crack a business deal over a game of billiards and fine wine and call for an impromptu party in your own exclusive Party Lounge. It is even possible to surpass the Mumbai traffic and fly in style to work by boarding your Helicopter from the Helipad at your building’s rooftop. Or you could just call for a charter plane and fly to your vacation destination with your family at your convenience.
Luxury Homes can be bought in the form of branded residences, luxury apartments in towers right in the epicenter of the city offering spacious duplex and penthouses or one can opt for ultra-luxury Row Houses, Villas or Waterfront Homes a little farther from city limits. Some of the luxury home developers maintain their reputation by exclusivity inviting only the crème de la crème of the society to buy a residence in their property.
Besides the high net worth Indians, Expats who come for work to India and NRIs settled abroad have their eye on Luxury Homes as an investment opportunity and the need to indulge in the finest of living experiences. The favorable weather conditions in Mumbai, excellent social infrastructure and cosmopolitan city vibe together make investing in Mumbai, a rather hard to resist opportunity.
Though the real estate sector has been facing a slump along with the overall economy, the luxury segment has been able to avoid the downturn. Key luxury housing markets have witnessed steady appreciation in prices over the last few quarters. Mumbai’s luxury market sector is witnessing an annual price appreciation of 30-40%. Luxury home seekers make the purchase with their personal wealth vs. loans and hence the market economy and the rate of interests on borrowed capital have little impact on their buying decision.
Continuous innovation and newer experiences will continue to feed the demand for Luxury Homes in Mumbai amongst the elite and NRI sector. The Island City will allow you to continue to experience a more evolved way of living by redefining luxury and bringing the world closer to you.