Demand and Price Surge for Super Luxury Homes in India touches an all-time high since the Pandemic

  

Kolkata : Luxury real estate in India is witnessing an extraordinary rise in demand for super luxury homes, driven by affluent buyers who are increasingly drawn to properties that reflect their achievements and aspirations, rather than mere residences.

If we talk about Kolkata, projects like Forum Atmosphere and The 42 on Chowringhee Road have propelled the city into a prominent hub for super luxury living over the past decade. These developments are reshaping urban lifestyles with groundbreaking features like the world's first residential floating sky sculpture and the tallest residential tower in the city.

As per the report Sales of luxury apartments priced over Rs 1.5 crore in Kolkata have more than doubled post Covid. Against 150-odd luxury apartments sold in Jan- March 2019, premium developers in Kolkata have sold 380 units in the first of this year, marking a 153% growth.

In a recent transaction, an ultra-luxury flat spanning 11,000 sqft at The Camellias in Gurugram, on the prestigious Golf Course Road was sold for a staggering 114 crores, highlighting one of many such high ticket transactions in the past few quarters.  Shortly in a month another residence at The Camellias, developed by DLF, India's largest listed real estate developer, fetched INR 95 crores, further underlining the market's appetite for high end Uber luxury homes, a segment earlier ruled only by Mumbai.

 

Catering to this burgeoning demand for luxury and super luxury homes, DLF recently announced that it will be launching super luxury projects in Goa and Gurugram. In Goa, it will be launching super luxury villas priced 50 crores and upwards.

But this surge extends beyond Gurugram, as seen in Mumbai where leading fashion designer Vratika Gupta made headlines with the acquisition of a sea-view luxury home in the lavish 'Three Sixty West' tower for a whopping Rs. 116.42 crores. 'Three Sixty West' in Worli epitomizes elegance and grandeur, featuring the Ritz-Carlton Hotel and luxury residences.

What distinguishes these super luxury homes is not just their comfort and opulence, but the sense of community and prestige of living with like-minded people. The Camellias, nestled within DLF Golf Links in Gurugram, is home to approximately 10-15 startup founders and 429 elite families. What has made this project a head-turner in the luxury space is its whopping 160,000 sq.ft. large clubhouse that makes it one of the largest private residential clubs in the world.

Capital appreciation has also been a significant driver for investors and buyers, with properties like DLF's The Camellias witnessing remarkable appreciation in value. Prices have soared between INR 65,000 to INR 85,000 per sq. ft., crossing the one-lakh mark in recent re-trade deals, making it one of the region's prime luxury developments.

Accoring to industry experts, this surge reflects a paradigm shift in the Indian luxury real estate market, where properties symbolize embodiments of success and prestige, fueled by economic growth and evolving lifestyles.

As the appetite for luxury living continues to grow, developers are responding with visionary projects that promise to redefine the landscape of luxury real estate in India and beyond, signifying a lasting shift in aspirations and lifestyles in one of the world's fastest-growing economies.