ALL ABOUT ‘TROPHY’ PROP­ER­TIES

HT Estates - - HTESTATES -

What one may term as ‘trophy’ lo­ca­tions in some ci­ties — in­stances would in­clude Mumbai’s mill lands — have be­come avail­able, mak­ing it pos­si­ble for larger num­ber of units to be con­structed

Where the erst­while trend for lux­ury prop­er­ties used to be for 10–15 lux­ury units at best in the heart of a city, in cramped lo­ca­tions, to­day a slew of larger lux­ury projects are pos­si­ble be­cause of the avail­abil­ity of such large land parcels in prime lo­ca­tions

This trend may be at­trib­uted to the fact there’s an over­sup­ply of prop­er­ties in pe­riph­eral lo­ca­tions and a lack of good op­por­tu­ni­ties in the CBD (cen­tral business dis­trict) ar­eas of ci­ties like Chen­nai, Pune and other sim­i­lar ci­ties

Lux­ury projects within the CBD en­hance the brand value and eq­uity of hous­ing de­vel­op­ment firms

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