Most of the time it happens that builders overuse the word ‘luxury’ in their projects. And it becomes important for buyers to understand the proper definition, content, and meaning of luxury in Indian residential real estate. Before buying luxury apartments in Delhi, consider all the factors that affect the dynamics of genuine luxury homes.
In Indian real estate, the word ‘luxury’ is by far the most abused word by developers. Any project offering basic amenities is classified as ‘luxury’ in marketing materials, advertisements, and pitches. We have seen projects where 1-BHK apartments are considered a luxury.
First of all, luxury living in any way must necessarily include generous living spaces. In any manner, a 1BHK flat can be considered a luxury. Secondly, the interpretation of the luxury word in the Indian context also includes an element of exclusiveness. In other words, the buyer of the luxury project – apart from superior amenities and facilities. Also expects to live in a project when a project offers one-bedroom apartments, it automatically disqualifies itself from the luxury segment.
Just for the sake of selling, the builders are going to continue the word luxury. But here are some of the factors that a buyer should consider before buying 4 BHK luxury apartments in Delhi.
Location is one of the most crucial factors. Though the central location is an important qualifier for the luxury tag in India. A project that stands at the central city junction beset with traffic congestion doesn’t provide a luxurious experience. It doesn’t matter if a project is normal or luxurious, it is not a home if one cannot reach it or get out of it. Investors should look at the location parameters such as project benefits from approach roads that allow for convenient vehicular egress and ingress.
The view is one of the major factors that a person should consider that a person should consider before buying a luxury property. A project may be luxurious in its internal specifications and amenities. But, if your property has a view of a slum or congestion-prone highway, graveyard, or a hospital, both rental and resale potential takes a beating. The availability of a rooftop swimming pool and a Jacuzzi in every bathroom won’t make a difference if your home has a view of unwanted things.
Floor to ceiling height
This is consider one of the most important factors to evaluate a project’s true luxury. If the floor-to-ceiling height is less than 12 feet, the luxury is compromised. Moreover, apartments with low ceilings do not lend themselves to good optimal for tasteful interior decoration.
The number of people living in the society is the project density. There is no ideal thumb rule for the same. But it is usual that a one-acre project shouldn’t be a habitat of more than 60 families. Anything more than that doesn’t qualify as luxury. This is all because the available amenities are shared by people which further destroys the project’s ambiance, exclusivity, convenience, and charm.
There is no benchmark for the parking facility, but the commonly followed norm is that the number of bedrooms in a project should equal the number of parking spaces. A three-bedroom apartment should have three parking spaces within the project. There are many projects in large cities that offer puzzle-type mechanized parking.
As it is mentioned, It takes more than a word luxury to place a project head and shoulders above the rest, which makes it a worthwhile investment option. If you aren’t able to understand the true definition of luxury, then always consider the abovementioned points.