Bangalore develops the taste for luxurious villas
Over a decade ago,
Niranjan Hiranandani, Vice President,
Thus, the city is witnessing an increase in demand and the parallel development of villas, independent homes in gated communities, which offer more freedom of open and flexible spaces, a predominant choice of buyers.
luxury market
The Anarock Consumer Sentiment H2 2021 survey indicates that Bengaluru shows a penchant for exclusivity and opulence. The survey found that while 66% of respondents still preferred apartments, self-contained plots came a distant second at 18%. Followed by 14% of the city’s population aspiring to live in a villa by the end of 2022. The remaining 2% of the population were more specific about their needs as they wanted both – exclusivity and benefits without the hassle that comes with a housing company. So, they chose to buy entire floors in a building for themselves.
Santosh Burhani, a property consultant with over two decades of experience, believes luxury has had to up its game in Bengaluru as developers, who provide affordable homes in grand or gated projects, have rendered amenities obsolete like the clubhouse and pool. This set the bar for the luxury segment exceptionally high. He says, “The segment has seen innovation in design, durability and amenities that are otherwise available at upscale resorts or five-star hotels. A few of them have set up a water supply system, making the property independent of the local municipality for their water needs. Thanks to this water recycling system, residents can support themselves for two to three years, even if the municipality is unable to provide water. There are vehicles for residents to drive around the property as it is simply too big to walk around and explore. This exclusive comes in a price range of Rs 10 to Rs 30 crore and is the new avatar of luxury in Bengaluru.
An exclusive offer
Hiranandani says the city has seen an emerging subsection in luxury, where the boundary of owned land around the house has steadily expanded. Homebuyers in the gated community and luxury villa category want to live on a mini-island, he says. “The value of owning private homes has gained momentum after Covid-19, where achieving larger, open and green spaces has found a new taste. Such lifestyle-enhancing amenities are now being supported in sprawling gated villa developments to attract new era buyers at an attractive price and in the best locations. Exclusivity is a new flavor of home buying that helps increase health, wealth, and happiness quotients. Thus, Bengaluru is catching up with these popular segments to attract the right customers. »
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—Times property