Bengaluru – the up­com­ing lux­ury res­i­den­tial hub

Brigade Group is one of In­dia’s lead­ing prop­erty de­vel­op­ers with head­quar­ter in Ban­ga­lore and branch of­fices in sev­eral cities in South In­dia and a rep­re­sen­ta­tive of­fice in Dubai. Viswa Prathap Desu, Se­nior Vice Pres­i­dent – Sales & Mar­ket­ing, Brigade Grou

Realty Plus - - Editor-In-Chief Note -

The Dis­tinct fea­tures Of ul­tra-lux­ury Real-estate Grow­ing econ­omy and es­tab­lish­ment of new busi­nesses has been driv­ing this seg­ment and the need for larger spa­ces within a mod­ern con­do­minium. The mar­ket size of ul­tra-lux­ury res­i­den­tial seg­ment in In­dia is around USD 500 mil­lion. In the past lux­ury stood for pro­vid­ing a lux­u­ri­ous club house with swim­ming pool and other ameni­ties. How­ever, the def­i­ni­tion has now changed. Lux­ury now em­bod­ies premium en­trance lob­bies, ad­vanced au­to­ma­tion in the apart­ments, high­end ma­te­ri­als and fit­tings. Typ­i­cally, lux­u­ri­ous projects come up in CBD lo­ca­tions or new premium lo­ca­tions. The sizes of res­i­den­tial units usu­ally start from 3000 square feet and above. Some lux­ury projects also come with a de­signer branding to add a glam­our quo­tient to the prop­erty.

While the most sought-af­ter res­i­den­tial hotspots in­clude Mum­bai and Delhi, the it hub ban­ga­lore stays high on the list in terms of high stan­dard of liv­ing.

Key con­sid­er­a­tions

The ul­tra-lux­ury seg­ment caters to a niche seg­ment. The target seg­ment con­sists pri­mar­ily of in­dus­tri­al­ists, large busi­ness­men, Ceos/se­nior cor­po­rates and start-up founders to name a few. There­fore, the mar­ket­ing strate­gies for lux­ury projects too are adapted as per this clien­tele. There has to be an en­gage­ment with prospec­tive cus­tomers through boutique events, cor­po­rate engagements and re­fer­ral pro­grams. The ul­tra-lux­ury res­i­den­tial mar­ket is a small seg­ment but has a good po­ten­tial. It is an ever­green seg­ment and will al­ways have po­ten­tial cus­tomers.

The key is to de­velop niche projects with premium of­fer­ings. Brigade Group was among the first to use in-house pre-cast tech­nol­ogy and for the dis­tin­guished buy­ers in­tro­duce an on­line por­tal to track project progress and pay­ments and cre­ate an on­line book­ing plat­form.

the PREMIUM lo­ca­tions in bengaluru

Heb­bal area, home to sev­eral IT Com­pa­nies is known for its calm­ing at­mos­phere as it in the out­skirts of the city and for the Heb­bal Lake. White­field is one of Bengaluru’s most posh lo­cal­i­ties with uber­lux­ury res­i­den­tial of­fer­ings. Banashankari is the largest lo­cal­ity and is known for its his­tor­i­cal sig­nif­i­cance whereas, Kanaka­pura Road is boom­ing with gor­geous land­scapes, well-de­vel­oped roads and many IT hubs. JP Na­gar is also called, the Hol­ly­wood of Bengaluru as it hosts many fa­mous ac­tors from the Kan­nada Film In­dus­try. The glitz and glam­our around this lo­cal­ity makes it the per­fect place for lux­ury home seek­ers. Old Madras Road has be­come a pop­u­lar res­i­den­tial lo­cal­ity due to its prox­im­ity to IT hubs across other ma­jor lo­cal­i­ties. Sim­i­larly, Mysore Road is one of the most sought af­ter res­i­den­tial lo­cal­i­ties and has some of the fastest grow­ing in­ter-lo­cal­i­ties.

viswa Prathap desu

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