With newer luxe components in the market, architects and interior designers are adding newer indulgences into living spaces, merging elements of art and architecture in contemporary homes around the world. Open floor plans, clean lines and a simple aesthetic are just a few of the elements incorporated into some of today’s contemporary estates in most metros and weekend homes.
Anuj Puri, chairman, ANAROCK Property Consultants, states that while the affordable and mid-segment housing sectors continued to dominate overall supply in the first half of 2019, luxury and ultra-luxury housing saw a resurgence.
As many as 16,100 new units have been launched in the luxury segment priced more than Rs.1.5 crore across the top seven cities. Predictably, MMR and NCR dominated the new luxury supply in H1 2019, accounting for a 59% overall share, followed by major southern cities with Bengaluru and Hyderabad seeing the launch of 2,210 and 2,070 units respectively.
So what exactly constitutes luxury in a home? José Braganza, joint MD, B&F Ventures (P) Ltd., explains, “Earlier, luxury was defined as high-end finishes in standalone space within the apartment. Luxury now means non-intrusive but efficient security, grand and spacious driveways, a well-thought-out traffic management system, lush green landscapes and ample parking space for visitors.” Other than this, the interiors of the project also play an important role in luxury housing. Interior design, today, is more about modernised, oblique or straight lines, large picture windows and a sense of nature within the bounds of a modern concept. Some of the trappings are a well-equipped gymnasium, party lawns, spas, a yoga deck, swimming pools, while amphitheatres, pet-friendly parks, outdoor cinema, amusement slides and adventure trails add to the luxe quotient. Panoramic views, high ceilings, exclusive reception areas and private elevators are some of the features and facilities that developers now include in their luxury projects.
“The concept of luxury is all about unique experiences, privacy and exclusivity. Home automation systems are also emerging as an important differentiator. Increasingly, homes are semi-automated, including areas such as kitchens and washrooms. Central control systems are enabling automation with the help of the Internet of Things (IoT),” states Sunil Sharma, VP-Marketing and CRM, Mahindra Lifespaces. The concept of a luxury home is continually evolving around the world, in line with the aspirations, requirements and tastes of the home buyer in the category. Basics such as design, interiors, furnishings and lifestyle accessories have always been, and continue to be, uncompromisingly top-of-the-line. In terms of materials, Italian marble or laminated wooden flooring are popular. Other elements include branded sanitary fittings, low VOC acrylic emulsion paints for environment-conscious living, flush doors with hardwood frames.
Neha Hiranandani, director, House of Hiranandani, feels that luxury includes proximity to workplace, convenience, uber-living and exclusivity within a like-minded community. “Schools and departmental stores at walkable distance from residences are a luxury today. the presence of community at par to socialise and celebrate occasions within the gated complex is luxury. Home-buyers look for exclusive structures while choosing residences, which give them a unique identity among their peers,” she elaborates, adding that luxury is becoming the new norm of living.
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