What defines a luxury residential project?

 The luxury market in India is likely to scale up to a whopping 14 billion dollars by 2016 from 8.5 billion dollars in 2013, according to a KPMG-ASSOCHAM’s recent report. Super Luxury Homes have become the current trend for NRIs, HNI clients and private investors who want nothing but the best in extravagance, abundant in opulence, grandeur and aesthetic sense. Come to think of it, what defines luxury living - is it only serene spaces with lush greenery, ample lighting, open areas and good cross-ventilation for a peaceful living? Well, today’s luxury home buyers demand more, much more. From basketball/tennis courts to large gymnasium to infinity pools, private gardens, walk-in-closets, outdoor kitchens with personal bars, home theatres, spa bathrooms to even built-in automation systems, the list is endless. But this is not all With different cities, there is a different definition of luxury that comes up. For metro cities or employment hubs, luxury would be dependent on the locality, proximity to airports, railway stations or malls and multiplexes as well as on the modern amenities, technology and comfort. A place of recreation, enjoyment and rejuvenation, super luxury homes are an effective way to indulge in a good living and a distinct lifestyle. They boast of upgraded designs and uber-cool amenities of private lawns, terrace gardens, sky lounges bursting in their exclusivity, space and privacy from those prying eyes. Not to mention the LED TV sets, well-equipped kitchen with appliances of hotel quality and humongous storage area along with multiple car-parking options, quality elevators, security systems with gated areas, guards and latest electronic surveillance technologies. According to Uzma Irfan, Executive Director, Corporate Communication, Prestige Group, as quoted by Deccan Herald, “High-end homes have today evolved into a statement among the discerning consumer. Such homes are not just about pricing but the result of several qualities, starting with the aesthetics to the amenities to signature styles and so on.” Luxury homes can never comprise of overcrowded buildings or neighbourhoods. Also, the occupant profiles i.e. the personal profile and backgrounds of the residents living in the neighbourhood is a major concern for the buyers, who want their peer groups to be of a certain stature socially, intellectually and professionally. Smart and stylish luxury homes can indeed be promising by upping the technology ante with only an iPhone required to control home temperature, alarms, lights and security systems. The exterior is as essential as the interior for a super luxury home to be labeled as one. While the location demands to have a blissful ambience despite good connectivity, the view outside the window should be as appeasing, unobstructed and soothing as the lavish interiors. Besides, the roots of a well-constructed house are in its foundation – the infrastructure, sanitation, safety standards and quality materials. With 85000 UHNIs investing about 40 percent of their investment dealings in real estate, Indian luxury housing is sure to be the bandwagon for a long time to come.