LIVING ON A HIGH

Developers are leaving no stone unturned to make the rich feel good, while customers are seeking nothing but the best for their 'home' experience

- RUKMINI RAO

High ceilings with wall-to-wall glass panelling, contact-less systems controlling every function, an in-house valet service, concierge to cater to your daily needs and best-in-class clubhouses — welcome to uber-luxury housing. Catering to the crème de la crème with price upwards of ₹20-25 crore, such projects are the playground of architects and interior designers. And while the overall real estate market has been sluggish, this segment has been fairly insulated from the effects of Covid-19. However, what have changed are customer preferences. Revenue from this segment forms a sizeable chunk, though the overall development size of these projects may be small compared to the rest in the portfolio.

Personalised Offerings: Selling uber-lux-ury homes is not a regular sales job. Most de-velopers take the ‘by invite only’ approach in this segment. “Uber–luxury has a snob-value and we don’t advertise for any such projects,” says Mumbai-focussed Sunteck Realty’s Chairman and MD Kamal Khetan. “Who are your neighbours is of great value. The class of people staying in the complex, the kind of lifestyle they lead, all these have to be bundled in the project,” he adds. However, exclusivity and expansive green spaces top customer preferences. “We can’t even show the project to two customers at the same time, we have to do it one by one” says Aakash Ohri, Executive Director, DLF Home Developers. The buyers' list is curated through references and channel partners and vetted even before approaching the prospective customer.