Luxury Homes In Mumbai

Luxury is never affordable and to rise above the commoners, one’s status needs to be defined by owning commodities that are defined as luxury. Mumbai is one of the most prominent states in the world for real estate market, living here is expensive but owning a property here now that’s a luxury not everyone can afford.

Worli-the hub of luxury apartments

Luxury homes are not only defined by their cost but also defined by amenities for example residential apartment in Worli boasts of amenities such as swimming pools, fully equipped gymnasium, modular kitchens, spectacular architecture and an awe-striking sea view with a swift breeze that greets you every evening. These apartments also give you ample space, a luxury that not many experience in this city. World-class lifts, ventilated parking spaces and aesthetically appealing rooftops with beautiful gardens are some of the amenities given to habitants living at residential duplex apartment in Worli. The area is accessible to business centre, shopping malls and is close to distinctive residential areas. Worli’s proximity to India’s most famous mall called “The High Street Phoenix” is another reason for its popularity.

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The stunning beauty of Arabian Sea also attracts residents to Worli. The pristine blue water and the cold breeze that touches your face while standing in your verandah is unrivaled. The weather due to this is much cooler and pleasant as compared to other areas in Mumbai. These apartments spread across acres and are so magnificent to look at that you would never tire of living here. Recently we have witnessed a rise in demand for luxury homes by investors. Now let’s explore the reasons behind this phenomenal increase and how investors can benefit from it.

Reasons for predominant increase in demand for luxury homes

In 2010, we perceived real estate market to be stagnant however Mumbai flat rates escalated even then by 20%. Global Wealth Report states that Mumbai and Shanghai in the next 10 years would closely be priced as high as properties in New York and London. These are the steepest priced properties in the world and Mumbai is among the 20 most expensive cities to live in the world. The reasons for this surge can be attributed to:

·         The increase in high net worth individuals (HNIs): In the last 10 years, we have witnesses a splurge in emerging HNIs and these individuals yearn to emerge in the society as powerful and rich. This can be achieved by changing their lifestyle by owning posh properties at eminent locations.

·         The demand for spacious properties: The rates are aligned according to square feet everywhere and residential apartment in Worli roughly cost around 15-20 thousand per square feet. The houses in Mumbai were thus designed efficiently without giving thought to luxury. HNIs realized their affordability quotient had risen and therefore they wanted to move to a spacious apartment which offered all luxurious amenities.

·         These rates would appreciate rapidly in the coming years and therefore investing in these properties would always be beneficial for investors.

Omkar 1973, designed their super tall structure in Worli keeping in mind the desires of residents. They introduced urban and impeccable residential duplex apartment in Worli that stretches across 3.5 acres and gives its habitants an ecosystem which is environment friendly, centrally located and provides luxurious amenities such cinema hall for private viewing, uber swimming, fully equipped fitness center and a banquet hall for hosting parties.