The Rise of Luxury Homes in Bangalore

According to a JLL report, Bangalore, India’s Silicon Valley, is emerging as the country's top luxury home market. Construction quality, design uniqueness, ventilation arrangements, floor-to-ceiling height, amenities and facilities, floor planning, estate elevation and configuration aspects are some of the factors responsible for Bangalore's rise.

Another factor attributing to the growth of luxury real estate market in Bangalore is the far more reasonable and realistic pricing of residential properties as to that in Mumbai and NCR. Luxury properties being 20%-30% cheaper than the other metropolitans, Bangalore remains a favored location. The city has emerged as a hub spot for the gigantic real estate market.

Owing to the advantages of these factors, the new ongoing residential projects in Bangalore for the luxury segment are witnessing a blend of innovation; extravagance and convenience that other destinations find difficult to give shape to. Some of these projects are really redefining luxury and opulence the way we perceive it.

The city has seen a boom in the niche of real estate market. Yet other reasons for this expansion are: rise in the number of high nets worth individuals resulting in the increase of disposable income, the rapid growth of urbanization, an expansion the tertiary industry, the influx of global lifestyle trends, and a more quality conscious consumer.

The hot spots of luxury housing in Bangalore include Palace Road, Lalbagh Road, Frazer Town, Indiranagar, Koramangala and Whitefield are a few hot spots of luxury housing in the city.
Electronic City, Sarjapur and Kanakapura road are trending localities of for the luxury real estate market.

Talking about accommodations like penthouses, the market for Luxury penthouses in Bangalore has witnessed a considerable rise since the past couple of years. This may be attributed to the increasing purchasing power of aspirant individuals.
Bangalore has also witnessed more sale for luxury units, including villas, than that of Mumbai and NCR.

Data shared by LJ Hooker, a consultancy firm, shows that Bangalore has more than 5,000 luxury units under varied stages of execution and planning.

Bangalore has rated the third largest market for luxury property sales after Mumbai and NCR.
While much of the luxury demand comes from the rich of the tertiary sector, especially the IT/ITes sectors, there is also rising demand in Kolkata and Chennai, the upcoming hot spot for luxury real estate market.

With so many factors at play, from infrastructural benefits to cultural preferences, Bangalore is yet to witness the peak in the niche of luxury real estate market. With real estate behemoths like Mantri, Concorde and the Ozone Group making a strong presence in the city, the luxury property enthusiasts can expect their dream turn into reality.
   

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