Things you need to keep in mind Before Investing in a Luxury Apartment

The word ‘luxury’ is by far the most misused in Indian real estate by residential project developers. In marketing materials, commercials, and pitches, any project that provides basic comforts is labeled as “luxury.” We’ve seen complexes where 1-bedroom homes are offered alongside 2- and 3-bedroom units, all marketed as “luxury.” What’s the matter with this image? To begin with, luxury living in any setting necessitates the provision of large living areas. A one-bedroom apartment cannot be considered ‘luxury’ based on that alone. Second, there is an element of exclusivity in the Indian interpretation of luxury. In other words, a buyer of a luxury apartment wants to live in a building that provides a specific socioeconomic standard as a neighborhood, in addition to superior amenities and facilities. As a result, a project that offers one-bedroom flats is immediately disqualified from the ‘luxury’ category. In any event, purchasing a luxury condominium for personal use necess...