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High End - NCR

not central to the city, buyers are ready to compromise if the services available are pleasing. “It is not just location and con- struction but also the quality of services. Home buyers are looking for projects which can take care of all their needs— asset management, lifestyle, etc,” says Ankur Srivastava, Chairman, GenReal Property Advisers.

“It is difficult to establish a trend in the luxury housing segment as the market is witnessing new projects from renowned developers offering a healthy mix of villas, high- end apartments and villa- ments,” says Jain. She adds that demand for luxury hous- ing across Delhi, Gurgaon and Noida is driven by both end- users and investors. However, in suburban locations such as Gurgaon and Noida, investor activity is prominent.

“The trend is of ultra high-end apartments as luxury homes today are more about making a lifestyle statement. High-end specifications coupled with designer fit-outs and high-tech gadgets of global standards are the driving factors. The new breed of premium and luxury homes offer a mix of grandeur and high-end con- temporary facilities for those who are upwardly mobile, both in terms of wealth and aspira- tions. These homes range from the elegant and contemporary to the lavish and plush in their designs and facilities. Features of such housing nowadays typically include landscaped settings, regal layouts, cen- trally air-conditioned build-

ings, high quality floorings , electronic access control and en-suite swimming pools, all packaged in sleek finishes,” says Gupta.

Jain says, “The demand for luxury developments have enabled the developers to launch exclusive products that are well-marketed, positioned and offer options to customise the offering based on the cli- ents’ preferences. Most of the high-end projects are offer- ing newer designs, concepts, configurations, state of the art infrastructure, personal lift, se- curity systems and CCTV, Wi- Fi facility, remotely controlled access, concierge services, personal swimming pool, and certain common sports facili- ties in the form of a clubhouse with health club, golf courses, tennis courts, mini Cineplex, etc.”

Delhi’s Pride: Lutyens

Bungalow Zone A dwelling with huge verandas, high ceilings, abundance of open space, surrounded by greenery all around; the white bungalows in Lutyens Delhi is possibly every Delhiites envy; but only a few super rich’s pride. Even as the national capital and its outer reaches has witnessed massive de- velopment of luxury homes having the best of amenities, the heritage bungalows build during the British era simply have no substitutes. But they are rare and sell once in a blue moon. And when they sell, they go for a price range of Rs 100 to Rs 300 crore for a 5,000 to 10,000 sqft house

spread in about one acre of land. Besides the elected representatives and few senior government officials, only the likes of Jindals, Mittals, Dalmi- as, Ruias, etc have their abode in these sprawling bungalows. A Second Home: Farm Houses They are mostly setup on huge acres of agricultural land and are a second home for the city’s rich in south west, west and northwest Delhi. Spread over huge acres of land, farm houses in Delhi are also rent out for wedding and party pur- poses. They are available for as low as Rs 5 crore to Rs 100 crore and is the best for those looking for peace and serenity, away from the city’s fuss. And the good thing about all this is the Master Plan 2021, which now permits farm houses in a green belt and unlike the previous master plan does not restrict its use for agricultural purposes. Besides, the coun- try homes policy seeking to redefine farmhouses as coun- try homes is also currently under review. “There is huge amount of land in the Delhi villages-NCR boundaries, earmarked as greenbelt. The country home policy would be big game changer,” says Srivastava.

High and mighty of

South Delhi If developers and property analysts are to be believed, property prices in posh lo- calities like Golf Links, Jor Bagh, New Friends Colony, Defence Colony, Vasant Vihar, to name a few in South Delhi, have doubled since 2007. “No other area has recovered from

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