The possibility of high capital appreciation, large ticket size, increase and returns, high rental yields and tax benefits make India real estate extremely attractive for high-end buyers. Ashwin Chadha, president of North India Sotheby’s International Realty comments,
“A broad profile of Indians are looking into buying high-end properties in India, these buyers range from high net worth individuals, business owners, investors, CEOs, CXOs, entrepreneurs, corporate professionals and investment bankers. There is also a large component of non-resident Indian buyers living in the UK, USA, Australia, Singapore and the UAE who like to invest in their hometown.”
The Government of India has recently taken several initiatives to encourage development.
“For example,”
says Mr Chadha,
“The Smart City Project, a plan to build 100 smart cities, is a key opportunity for real estate companies. Similarly, lowering the home loan interest rate, the Real Estate Regulatory Act, Goods and Services Tax, and the enforcement of Banami Transactions Amendment Act are other major steps the government has taken to significantly uplift the real estate industry.
“Many international firms have entered Indian cities such as Grand Hyatt with Fosters Partners architects in Gurgaon, Trump Towers in Pune, Four Seasons in Mumbai and Armani Casa in Mumbai. Moreover, there is the arrival of professional property consultants with international exposure and high credibility who are able to market and sell properties to the right clientele. Consequently, this has increased consumer confidence across India real estate.”
Small towns and suburban areas with great connections to metro cities have emerged as popular destinations in India both for residential and commercial properties.
“The largest example of this,”
reports Mr Chadha,
“is Gurgaon’s transformation from an economical wasteland to ‘The Millennium City’ symbolising ‘Rising India’, over the last two decades. Gurgaon is now considered a major commercial, industrial and IT hub with over 500 businesses situated in the town and major real estate companies have residential and commercial projects there too.
“In terms of infrastructure, the town has upgraded its expressways, metro services, proximity to NH-8 and its availability of social amenities. Gurgaon now features impressive apartments fitted with modern amenities, high-end department stores, gourmet dining in world class restaurants and exciting nightlife. Gurgaon has even ensured luxury living is possible for middle class residents, as the gradual liberalisation of the economy over the past two decades has led to the rise of affluent classes.”
Central Park Resort, Sector 48, Gurgaon
Just 25 minutes from the International Airport, this resort has everything residents need within its expansive, zero vehicle grounds featuring undulating greens dotted by water bodies and fountains. In keeping with the profile of the residents, there are plenty of recreation activities including a bowling alley, golf putting, lawn tennis, badminton, cycling, skating, jogging, swimming and a large dedicated children’s play area. The resort also offers five-star services including concierge, housekeeping, laundry, a business centre, pet hotel, ambulance and doctor. There are three different property options:
-Sky Villas
Central Park Resort’s super premium penthouses are located on the top 16th floor onwards. Aptly called Sky Villas, there are only 27 of these prestigious penthouses offering three and four levels of opulence and privacy. They range from 5,612 to 11,872 square feet and are accessed by a private lift. The master private floor includes a den and deck with a private splash pool and a celebration deck with a private entertainment area. These limited edition Sky Villas are ‘by invitation only’.
From £610,150 / €715,830 / $766,200 –
£2.71m / €3.17m / $3.4m
-Beau Villas
Lavish, ground floor villa style apartments with a private gazebo offering a breathtaking view of the picturesque Central Park Resort. As beautiful inside as they are outside, each Beau Villa is fully furnished and ready to move into.
From £315,580 / €370,200 / $396,465
-Belgravia Resort Residences
Featuring fabulous views of Central Park Resort’s 20-acre greens, these two, three and four-bedroom apartments are light and spacious with an open plan design.
From £397,425 / €466,165 / $499,270
www.centralpark.in
Chattarpur, Delhi
Exquisite farmhouse designed by world-renowned architect, Satish Gujral and located in a highly prestigious gated community. The residence spreads across 2.5 acres of land and includes six bedrooms and six bathrooms, as well as spacious living and dining areas. The yard features an impressive pool and its fine brickwork complements the state-of-the-art infrastructure.
£8.13m / €9.56m / $10.22m
North India Sotheby’s International Realty
www.sothebysrealty.com
West End, New Delhi
This brand new apartment is in one of the most prime and affluent residential locations in New Delhi, surrounded by restaurants, high-class shops, schools and colleges. It is designed with modern and stylish finishings and includes four bedrooms and four bathrooms. There is also an elaborate kitchen with marble and wooden flooring, a spacious living room, garden and artist studio. The building has independent lifts for the second and third floors and complete power back up.
£1.51m / €1.78m / $1.9m North India Sotheby’s International Realty
www.sothebysrealty.com
