Luxury does not merely mean a prime location with good social infrastructure but a contemporary modern home with all the modern amenities, superior aesthetics and infrastructure combined with exclusivity. Most of all, a luxury home should have the necessary facilities to enable utmost privacy and the best that money can offer in terms of facilities, structures and services.
Gurgaon, a suburb of Delhi is home to a number of big companies and continues to be a good address as it has emerged as a self-sufficient premium location. It has developed as an alternative to Delhi for the premium home buyers. Golf Course Road, Sushant Lok and MG Road are currently among the best and most expensive locations in Gurgaon. With recent development in the periphery, areas such as Manesar, NH8 and Sohna road are also fast emerging as good investment options which will offer attractive returns in the coming years.
In areas of Manesar, NH8 and Sohna road, one can see rise of numerous construction sites, apartments, penthouses, villas and bungalows in gated communities, besides branded residences and golf townships. Luxury residential projects in the price range of Rs 5-10 crore in areas like Dwarka-Gurgaon Expressway, NH-8 and Golf Course Extension Road have seen fast sales, prompted by new product offerings, greater end-user demand, and an increasingly upwardly mobile segment. Rate of these properties varies from Rs 6,000-12,000 per sq ft depending upon the location.
According to a recent report by KPMG, luxury is the fastest growing segment in residential housing. Between 2008 and 2012, about 182 luxury projects housing 25,570 units with a value of US$30 billion were launched in top seven cities. Many were absorbed, fuelled by strong growth in the number of high net worth individuals. This year the growth prospects look better than the last year for all sectors, particularly with foreign direct investment (FDI) and recent rate cuts.
Some recent trends observed are partnering with international players to design theme-based exclusive properties and integrated sports townships. Owners of these exclusive apartments enjoy facilities like valet service, concierge, laundry, in-residence dining, housekeeping etc.
Silverglades has created landmark projects like The IVY, The Laburnum, Classic Golf Resort and The Peach Tree in Gurgaon in collaboration as well as on stand-alone basis. The high-rises that are under construction or have come up in Gurgaon are setting new benchmarks in luxury housing and are the sought after addresses for the crème la de crème of society.
Author’s Note: Anubhav Jain is the Director of Silverglades, a boutique developer specialising in residential housing, commercial, township projects and golf-based leisure developments. During his coursework at Purdue in the USA and after graduation, he gained experience in Finance and Marketing while working at Johnson & Johnson and Bank of America. He went on to work in Eli Lilly & Company before returning to India in 2007 to join Silverglades.
