India is still a growing economy with high lifestyle aspirations and earning abilities in the cities increasing to match those aspirations. This means the concept of luxury housing has developed and grown in popularity in India as more people can earn the kind of revenue they want to enjoy the lifestyle in the city they want to live in. The idea is to have a luxury home that is as close to work as is possible. Of course, such properties in such prime locations cost more when looking for a luxury bungalow for sale in Kolkata but then you do not have to travel in and out of the city center and have a better balance with home and work life.
Looking at luxury housing trends in India
Location is a huge part of what people consider when looking for a luxury bungalow in Kolkata or any other city. The bungalow needs to be in the right area and such demand and specificity can create the issue of low supply and high demand. There are more luxury apartments being built now as a result of less space for traditional luxury bungalows. High-rise projects optimise limited space and can still be very luxurious while being modern and offering other benefits such as amenities close by. Where 20 years ago the focus was on bungalows so that more of the family could live in one place now some younger Indians want their own space.
Infrastructure is different compared to developed countries
The problem in India compared to other more developed countries is the issue of infrastructure in the cities. Things like natural disasters, fire safety, structural safety and environmental safety are not up to the same standards as in developed countries. Having the same high standards across the country is also difficult. What is normal or accepted in Mumbai is not the same for Kolkata.
Buying tips for luxury homes
If you are considering buying a luxury home, even a luxury bungalow for sale in Kolkata here are some tips to keep in mind;
- Are you buying to invest in or for your own home?
- Consider your budget with your needs versus what you can live without and think about your spending power in the long term.
- Make sure you pay for the home or apartment you get, not what you might have been promised if there is a difference between the two.
- If you can use resources to pay for some of the mortgage it is a good way to lower your need for a bank loan.
- Think about the value of the location and what that value will look like in 5 or 10 years.
When you are looking for a luxury bungalow in Kolkata keep the above information and tips in mind and you will get a better result. Keep in mind that space in a city is hard to find and having a larger luxury home to live in takes a lot of patience and money!
Bio – Emami Realty, the real estate arm of Emami Group was incorporated in 2006, to undertake real estate projects in residential, commercial and retail sectors. Emami Realty Ltd has a pan India presence with over 3.7 crore Sq. Ft development at different stages of planning, construction and delivery across West Bengal, Uttar Pradesh, Tamil Nadu, Andhra Pradesh, Orissa, Maharashtra and Sri Lanka. These projects are being executed under various Special purpose Vehicles (SPVs) and joint ventures (JVs). The Group has the distinction of delivering some of the landmark projects including South City project (commercial cum residential), Urbana (residential), Orbit Heights (residential) and Emami City (residential) in Kolkata, Emami Tejomaya (residential in Chennai), Emami Aerocity (residential) in Coimbatore, Emami Nature (residential) in Jhansi. The company is committed to excellence in design and construction, by partnering with internationally acclaimed names like Moshe Safdie, L&T, Meinhardt Singapore, SRSS Singapore, Green Architects Thailand, Sanjay Puri & Associates, Kapadia Associates etc.