While the idea of
luxury is ever-evolving, luxury apartments
have always been the stud of the residential market. What always brought about
the major rift between budget and luxury apartments in the past was the factor
of affordability. The prices at which luxury apartments were sold a few years
ago catered only to the financial status of the rich, leaving out the rest of
the population with no access to luxurious living. This has changed
significantly over the years with certain builders coming into the picture, who
changed the definition of luxury forever.
What are the defining
features of a Luxury Apartment?
apartment would cost 1 to 4 crore while regular apartments would only cost 40
to 50 lakhs. The price may vary depending on the location of the apartment and
the amenities that come with.
apartment usually houses a certain class of people. Builders these days even
try to create niche neighbourhoods for different employment sectors.
have an area of 1400 square feet and have ample bedrooms (usually 3 to 4
apartment is always a well-equipped smart home with features like voice
control, monitoring systems, motion sensors, and entertainment systems. Other
amenities include gymnasiums, swimming pools, and power back-up.
What is an
Affordable Luxury Apartment?
Apartments have been embraced by Indian Realty Sector as a successful trend.
These houses come in affordable price ranges without compromising on comfort or
convenience. They meet global standards while sticking to a certain budget that
pleases the middle-class homebuyers. Thanks to builders who incorporate the
features of luxury apartments into regular units; luxury apartments are no
longer the exclusive reality of the rich. Affordable luxury housing has broken
the barrier for middle-class families who aspire to live a luxurious life.
Despite being at
a loss, the builders are in favour of this idea due to the rising demand for
such products among young couples and nuclear families who constitute most of
the population. Premium luxury apartments are financially available only to
less than 10% of the population. Therefore the scope of broadening the business
is greater in affordable luxury housing. To compensate for their loss in this
housing, the builders buy land for low prices, use construction materials that
are reasonably priced, and avoid posh areas.
of homebuyers keep moving up the strata due to their exposure to different
living standards. Affordable luxury houses come with almost all the features of
an upscale house. Though location and size used to be the primary concerns of a
middle-class homebuyer, the amenities and infrastructure matter a lot today.
Vastu compliance, yoga rooms, gymnasiums, game areas, home cinemas, and other
recreational facilities are all common features in these apartments.
The growth of
suburban micro-markets due to increasing job opportunities has contributed to
the growth of affordable luxury houses. People who migrate to suburban areas
for work are looking for homes that can alleviate their work pressure. An
affordable luxury apartment is a repository of comfort and convenience that can
ease people’s lives. People who move in with families also go for them as these
houses have 3 to 4 bedrooms.
It is not just the
upper class who wants to live in a house that has its own entertainment system
or a gymnasium. The fact that convenience is a universal aspiration,
irrespective of people’s class, is the major force that brought luxury houses
to the commoners. Adroit Urban Developers have been at the forefront of
affordable housing and have completed residential apartments in Chennai that offer top-notch
amenities. The builder’s spacious Vastu compliant premium apartments in Chennai come with
gymnasiums, home cinemas, yoga rooms, and recreational facilities. They have 3
BHK and 4 BHK flats in
Chennai that are aiding the lives of people in the suburbs.