What are Ultra-Luxury and Mid-Luxury Projects?
Post by : favouritehomes
With the Indian real estate sector undergoing a revamp and higher disposable incomes hitting the roof, Indians are developing a taste for homes that are beyond the average man’s reach. They are called luxury homes and come in two segments – mid-luxury and ultra-luxury housing. While mid-luxury is achievable by a number of people, it’s the ultra-luxury homes that keep people aspiring for more.
The world is becoming a global village and more people are becoming aware of the finer lifestyles on offer, with the discerning ones with well-lined pockets opting for luxury homes. Big, metropolitan cities have already been witnessing this demand for some time but the smaller cities are now catching up too. These homes come loaded with amazing amenities that could include golf courses, skating rinks, roof-top infinity pools, private pools, private elevators, and even theme-based homes.
The mid-luxury and ultra-luxury homes, however, have different target audiences. The ultra-luxury segment targets the high net-worth population and the ultra-high-net-worth population. The mid-luxury segment, on the other hand, targets the high-salaried population as well as small businessmen who can afford contemporary luxurious amenities.
Some of the factors differentiating these two categories include:
Only a select few members of the elite society are interested in buying into ultra-luxury housing projects. Such homes aren’t put up for resale either. And interestingly, such projects are so exclusive that sales happen only by invitation. As this sector of homes is expensive to construct, developers generally depend on pre-sales absorption to secure ample funds.
The costs of mid-luxury homes are lower and this is what attracts more buyers to this segment. People want to enjoy premium amenities at competitive prices and as the deal is done through all-white-money, the booking amount doesn’t pinch the buyer either.
The mid-luxury and ultra-luxury projects are usually found in two entirely different locations. While the mid-luxury segment of the housing can be seen towards the periphery of big metro cities, the superior ultra-luxury housing projects are located in posh areas of the city center. The mid-luxury projects are usually located in open green spaces that offer great connectivity, strategic location as well as the availability of nearby social infrastructure.
Ultra-luxury projects offer homes that have products associated with international brands, promoting the concept of branded homes. Here you will find exotic interior decor, large spaces, designer fittings and flooring, home automation as well as advanced security systems and ample parking spaces.
With such homes, get ready for the experience of a lifetime!