chic interiors and world-class amenities

Moving a notch above

Along with Mumbai, Pune has witnessed exponential growth in the luxury segment over the last decade. According to realtors, luxury is more of a necessity today

    Transcending the confines of the four walls, home, as a concept, is much more evolved today. Modern-age residences make a style statement with sparkling spaces and elegant décor. That's the reason luxury sector is fast catching up in various cities where housing is synonymous to high-end living. Along with Mumbai, Pune has witnessed exponential growth in luxury segment over the last decade. Today, Pune has become part of the global technology movement and this fact is also reflected in the way luxury homes in the city have evolved.
    The concept of luxury housing in Pune has evolved steadily. This is a historic city with a rich background in luxury homes, which is evidenced by the palaces which existed even before the British arrived. The stately preindependence mansions with their Gothic grandeur; the impressive bungalows built by Pune's ultra-rich and the ultra-modern apartments more or less define the luxury housing segment in the city today. The advent of the IT revolution has brought new luxury addresses to the forefront and also redefined the very meaning of the word 'luxury'.
    The apartment and row house culture is now a firm fixture on the Pune real estate landscape, and this holds true for luxury homes as well. These are very space-efficient configurations. The latest architectural concepts now being employed by the city's leading
    developers have added a brand-new and extremely contemporary meaning to the word 'grandeur'.
    Though the concept of luxury housing has undergone many changes over the years, one aspect that has remained a constant is that of spaciousness. As property prices are largely determined by size, larger homes are considered luxurious but only if the location, amenities and surrounding infrastructure are also conducive to luxury living. Taking this into consideration, a city like Mumbai obviously falls short because even though size and amenities are offered in luxury apartments, the surrounding ethos and infrastructure does not match up with the concept. Pune city may witness this phenomenon but to a lesser degree. In terms of supportive infrastructure, luxury homes in the Pimpri Chinchwad Municipal Corporation are way ahead because the infrastructure is developed even before the residential component is brought in.
    Luxury customers are now aware of the latest trends in the market, asserts Rajesh Narang, vice president, sales and marketing, Pride-Purple Group. "They have become very choosy while selecting a project and also its specifications. Most of them prefer to go with a reputed builder for credibility. In Pune's realty market, luxury buyers are looking for bigger flats. International brands also play a key role."
    Thanks to the well-travelled discerning customers today, a luxury home today is the one that complements a premium lifestyle. It is a combination of chic interiors and world-class amenities.
    Branded homes are catching up, adds Atul Chordia, Chairman and CEO, Panchshil Realty. “Today’s buyer is smart, someone who understands the brand and relates to it at a personal level. When it comes to a particular brand, such class doesn’t want to compromise on quality. The cost of branded projects is subjective. It varies from project to project and brand to brand. A branded home in Mumbai may cost higher, but the same branded residence in Pune may cost lower due to the inherent nature of the market.”
    Home buyers these days, expect much more from their surroundings. Amenities play an important role in a buyer's decision, in purchasing a luxury house.