Ul­tra-lux­ury is a Way of Liv­ing

Am­bi­ence Pvt. Ltd. fo­cus has been on pre­mium devel­op­ments pri­mar­ily in the Na­tional Cap­i­tal Re­gion with in-house con­struc­tion and devel­op­ment ca­pa­bil­i­ties. Aman Singh Gehlot, Di­rec­tor, Am­bi­ence Group shares his in­sights.

Realty Plus - - Edi­tor-In-Chief Note -

Am­bi­ence Group com­menced its jour­ney with de­vel­op­ing pre­mium res­i­den­tial apart­ments in South Delhi. It for­ayed into large real-es­tate devel­op­ment projects, af­ter ac­quir­ing a land­mark real-es­tate in Gur­gaon on Delhi Border, NH-8 that con­tains a sig­na­ture in­te­grated town­ship ‘Am­bi­ence Is­land’, com­pris­ing res­i­den­tial, com­mer­cial, re­tail, ho­tel and golf­ing fa­cil­i­ties. The group has an ar­ray of on­go­ing and planned projects at strate­gic lo­ca­tions in Delhi NCR, Sonepat, Pa­ni­pat, Udaipur and Visakha­p­at­nam in­cor­po­rat­ing a mix of Town­ships, Res­i­den­tial, Com­mer­cial, SEZ, Hospi­tal­ity and Ed­u­ca­tion

Def­i­ni­tion Of lux­ury

The def­i­ni­tion of ul­tra-lux­ury varies from per­son to per­son such as hav­ing a branded res­i­dence to an ex­clu­sive concierge ser­vice. Cus­tom­ized per­sonal space and pri­vacy mat­ters a lot to the UHNI buy­ers, so low den­sity projects at­tract them. Five star ho­tels like ser­vices have be­come the pre­req­ui­site for ul­tra-lux­ury projects. For ex­am­ple, Am­bi­ence Caitri­ona project in Gu­ru­gram has 7-star su­per lux­ury con­do­mini­ums ex­clu­sively for the elites. The res­i­dents have ac­cess to the Ho­tel Leela lux­ury ameni­ties and mem­ber­ship. This is the first of its kind value ad­di­tion given by any devel­oper.

The project USP is its lo­ca­tion on the border of Delhi-gu­ru­gram and the ex­pan­sive views of Ra­jokri Greens. The 16000 square feet pent­houses are the big­gest one can get in Delhi-ncr.

growth Drivers

The in­creas­ing num­ber of UH­NIS is cre­at­ing de­mand sur­plus in this niche seg­ment. The up­surge in econ­omy and boom­ing IT sec­tor is at­tract­ing many in­ter­na­tional firms to set up busi­nesses in the coun­try and they re­quire res­i­dences with global stan­dards and world class ameni­ties for their CEOS. The ris­ing num­ber of en­trepreneurs too have as­pi­ra­tions of lux­ury liv­ing. Even the next gen­er­a­tion en­trepreneurs in tier-ii cities of fam­ily owned busi­ness are in­vest­ing in ul­tra-lux­ury projects in metro cities.

Lo­ca­tion is the prime con­sid­er­a­tion for a UHNI cus­tomer. The res­i­dence should be near their work place, cen­tral busi­ness dis­tricts as well as the hubs of leisure, art and so­cial ac­tiv­i­ties. Prime lo­ca­tions in Delhi near com­mer­cial dis­tricts, Golf Course Road, Gu­ru­gram and some lo­ca­tions in Noida are the key for ul­tra-lux­ury devel­op­ment ar­eas.

the mar­ket size of the ul­tra-lux­ury seg­ment is only around 2-3 per cent of the to­tal real-es­tate sec­tor. With ex­pected eco­nomic growth rate of 8 per cent, there will be a sig­nif­i­cant in­crease in the num­ber of unis and hnis in the coun­try.

aman singh Gehlot

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