Branded Residences: Luxury Living Has A New Address
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India is home to more than 2.4 lakh millionaires, and the number is going to increase by 50 per cent in 2022, a recently released report by Credit Suisse says. With growing wealth, the taste and the choice of luxury are also evolving. To cater to this segment, real estate developers are going the extra mile to bring the exclusive luxury concept to India. The branded residence is one such trend that is catching up in cities like Mumbai, New Delhi, Bengaluru and suburban areas such as Gurgaon and Noida where new-age millionaires would like to settle. In fact, NRIs are also considering these options for investment as it suits their lifestyle choices and comfort level. Most of the branded residences projects are designed keeping in mind the taste of NRI clientele.
Here is all you need to know about the branded residences :-
What Makes Branded Residences Special?
To bring in the highest form of aspirational luxury and most expensive brands, real estate developers of repute collaborate with hospitality chains or fashion brands. The end product is a residential property which has superlative amenities and offers resort-like living experience. While fashion brands such as Armani, Versace, Moschino etc have forayed into real estate with such concepts, various luxury hospitality providers across the world have realised the opportunity in the sector and are coming up with private residences concept where all the five-star services are extended to the residents. This perfectly suits those leisure and corporate travellers who have to stay for long in the city and prefer luxurious home stay experience over a hotel. The amenities offered in such projects include everything such as concierge services, spa and wellness centres, gymnasiums, themed interiors, chauffeur on call etc.
About The Price Tag
While there is no end to what branded residences can cost you, it entirely depends on the types of brands associated with it, hospitality partners and the location where such projects are based. For instance, Four Seasons-branded residences in Sector 16B Noida offer apartments starting at Rs 15 crore while the one being developed in Worli, Mumbai is offered at a starting price of Rs 6 crore. Experts are of opinion that developers prefer to choose prime residential locations, preferably in tier-I cities and are priced at 25-30 per cent higher cost than the average for the market, depending upon the branding and facilities.
Branded Residences In India
Many Indian developers have come up with private residences project in collaboration with international brands. Provenance Land is going to replicate the hotel-branded residences model in other parts of Mumbai, after Worli. Lodha Group is collaborating with Armani, Kelly Hoppen, Donald Trump for few other projects in the island city, Homestead and Brys in Delhi NCR have got the name of Lamborghini and Schumacher for their luxury projects. Supertech and Prestige group is bringing Disney to India in Delhi NCR and Bengaluru. Similarly, Equinox Realty, Bramha Corp, Panchshil are coming up with FTV, Kelly Hoppen, Phillippe Starck and Swarovski in Pune. Realty developer ABIL Group has entered into a partnership with global fashion design house Versace for Hughes Road project in south Mumbai.
- by Surbhi Gupta
Source : PropTiger
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