Super Luxury Development in Mumbai

India, with a 20.5 per cent increase in the number of HNWIs to 100, 015 recorded the second-highest growth rate in HNWIs globally, said the annual World Wealth Report by Merrill Lynch and Cap Gemini. India trailed only Singapore, where the increase in HNWIs grew by 21.2 per cent. The HNWIs are keen to flaunt their wealth & acquire prestige assets.

Realizing the market for super-luxury homes, more and more developers are coming up with million dollar homes in formats ranging from condominiums and suburban town houses to golf villas. These millionaires could be professionals earning in the excess of 1 crore per annum, industrialists and businessmen. Add to this list NRIs from the US and the UK and one can conclude that super premium housing in India is on a high-growth trajectory.

Along with high disposable incomes there are other trends that are fueling the demand for super luxury homes. Members of the joint family who are breaking away invest money from their ancestral property in new super luxury developments. Besides the super rich are upgrading from old buildings (which no amenities to speak of) to new buildings which have a pool, a gym, lift men and a concierge, not to mention enough parking for family’s many cars.

The Mumbai’s richest live in ‘Presidential Apartments’ .

Presidential apartments are super-premium apartments in exclusive neighborhoods. These apartments are large; typically in the 4,000 to 7,000 sq ft range, though some can go as large as 10,000 sq ft. Some of the presidential apartments have as many as 8-10 bedrooms. The prices for these average Rs 30,000-35,000 per sq feet and above.

The characteristic feature of a presidential apartment is its privacy and exclusivity, rather than the amenities offered. So you have one apartment per floor, with the habitable floors starting from the 10th floor level or above, in order to rise above the clutter of the buildings around. Besides space, these buildings have top-notch clientele, people that each of the prospective buyers would like to associate with. Most are sold by invitation only to the chosen few to maintain the exclusivity of the community.

The super luxury addresses in Mumbai are Nariman Point, Cuffe Parade, Napeansea Road, Colaba, Carmichael Road, Altamount Road and Worli. Some of them have been listed below.

How to ensure that your development produces maximum returns ?

How to manage your hotels and channels so as to maximize yields, increase sales and improve profits?

How do you ensure that your restaurant and other hospitality projects are well conceptualized, marketed and scaled up ?

Sarvajeet Chandra frequently writes on above questions. For more insights and opinions please visit his company [http://bit.ly/1ubhaGg]

Sarvajeet runs also run a site on strategic planning and execution . Please visit at http://bit.ly/1ubhaGj

If you enjoyed this post, you should read this: Improve Your Life Drastically With These Impressive Self Help Tips!

The post Super Luxury Development in Mumbai appeared first on Self Help.

from WordPress http://bit.ly/1qWV5el

via IFTTT