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High End - NCR


heja Revanta, Lodha Fiorenza, Lodha Aurum Grande, Oberoi Exquisite, Unitech’s Nirvana Country2 Espace Premiere and Orris Aster Court; are a few other luxury projects in NCR. Prime locations, earthquake resistant structures, sports zone-(cricket academy, tennis court, golf putting & basket ball ground, swimming pools, club membership, badmin- ton court, park facing, indoor games-pool, snooker, carom, tennis, table tennis, gym, children’s play park), crèche, CCTV surveillance etc, ATM, shopping complex, 24x7 pow- er backup, modular kitchen, etc; developers are promising a lot more and are delivering too.


Despite delivery and potential constraints, more and taller apartments promising five-star and seven-star facilities are on the rise. “Young salaried professionals, first generation entrepreneurs in the age group of 25-40 have a preference for high-rise condominium living,” says Srivastava.


The Coming Years “As the markets become ma- ture, the definition of luxury housing will evolve with newer offerings and services. The growth in the luxury housing market is expected to improve over the next five years with offerings matching internation- al luxury standards,” says Jain. Gupta adds, “The Indian luxury market, estimated at $5.8 bil- lion (nearly Rs 28,500 crore), is spreading beyond the big cities as adoption of global trends is catching up in small-


Locations & Pricing; Capital Values (INR per sq ft)


Delhi • Shanti Niketan, Westend, Anand Niketan, Vasant Vihar- Rs 50,000 – 60,000


•Friends Colony East, Friends Colony West, Maharani Bagh, Greater Kailash - I, Greater Kailash – II- Rs 25,000 - 40,000


• Jorbagh, Golf Links, Amrita Shergil Marg, Aurangzeb Road, Prithviraj Road, Sikandara Road, Tilak Marg, Ferozshah Road, Mann Singh Road, Sunder Nagar, Nizamuddin,Tees January Marg, Chanakyapuri- Rs 60,000 – 80,000


• Defence Colony, Anand Lok, Niti Bagh, Gulmohar Park, Hauz Khas Enclave, Safdarjung Development Area, Mayfair Gardens, Panchsheel Park, Soami Nagar, Sarvodaya Enclave: Rs 27,000 – 40,000


Noida •Taj Expressway: Rs 6,500-14,000


Gurgaon • Golf Course Extension: Rs 9,000 – 14,000 •Sohna Road: Rs 8,000 – 10,000 •Golf Course Road- Rs 15,000 – 30,000 •Dwarka Expressway- Rs 6,000 – 10,000


er cities. According to India Luxury Review 2011, published by the Confederation of India Industry (CII) and A.T. Kearny, the luxury bug has not bitten big cities alone. One in four luxury stores are established outside Mumbai, Delhi and Bengalaru. This could very well be the trend for the next few years, what with the Indian lux- ury market growing at over 20 percent per annum. The luxury market here will be worth an estimated $5.8 billion by end- 2011. It is estimated that by 2020, people earning above Rs 20 lakh will increase from four per cent to 10 per cent of Indian population. There will be


a need for luxury housing for these families in India too.” However, despite the growth in NCR, according to Jain, Mum- bai still leads the luxury homes market with its offerings in terms of the construction of the world’s tallest residential tower and homes designed by world renowned designers such as Giorgio Armani and Jade Jagger. “Also the city has marched ahead in terms of co-branding as it has brought in international co-branding in the form of the US Open Tow- ers in Mulund. Similarly, Pune too is offering homes designed by Philippe Starck, an interna- tional designer of repute.”


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