Ahmedabad
Luxury housing is picking up in a better way than general housing in the city, giving a boost to realty segment.
With the city developing even further, the demand for better housing options has greatly increased. Most construction companies have delved into luxury housing segment to further penetrate the real estate market in the state. Developing these lavish scale projects has proved to be fruitful to most of the construction companies.
Anand Safi, a real estate broker, says there is an increase in the demand for luxury housing and buyers also have certain demands such as a pollution free zone and that it should be a residential area. Business families and corporate managerial executives want bungalows with gardens with a plot area of at least 1,000 sq yards and construction of around five bedrooms and all kinds of facilities. Most of these luxury residences can be found behind Rajpath Club and Karnavati Club, Thaltej, Shilaj and Ambli Road.
Safi also notes that most luxury residential apartments are set pretty close to SG Highway, in areas such as Vastrapur, Bodakdev, Prahladnagar. These flats usually have three to four bedrooms, a servant room, allotted parking, club facilities and common gardens. These buildings usually also have separate service lifts.
Dhaval Patel, a real estate developer, says that buyers are now asking for even more amenities for luxury apartments. Buyers are asking for ready-to-use modular kitchen, central air conditioning, gymnasium and children's activities room in common area. The most important demand the buyers have is for a good maintenance and building staff.
Few new projects are coming up with flats with 6,500 to 8,000 sq ft area in the Bodakdev area, which is apparently the preferred area for luxury housing for buyers. The general price range of luxury flats in high rises is somewhere between Rs 7,000 to 8,000 per sq ft.
Dharam Agarwal, an Ahmedabad based builder, says that luxury apartments particularly have better markets than smaller bungalows. The demand is high for Prahladnagar and the Ambli-Bopal Road areas. Luxury flats have an average area of 4,000 sq ft and a price range that starts around Rs 6,000 per sq ft. The kind of amenities that make the flat a luxury one are 4-5 bedrooms, central air conditioning, marble cladding building foyer and common swimming pool.
Luxury apartments have a great market, especially for smaller nuclear families and for those with hectic career lifestyles. The locations are generally central with good nearby facilities and it adds the bonus feature of security and community living. As the market is good, investing in luxury apartments for investment purposes can also turn to be fruitful.
Luxury apartments have a great market, especially for smaller nuclear families and for those with hectic career lifestyles. The locations are generally central with good nearby facilities and it adds the bonus feature of security and community living. As the market is good, investing in luxury apartments for investment purposes can also turn to be fruitful.
Source - TOI Amehdabad
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