With disposable income in hand, a lot of individuals are keen to carry brands and live a life of luxury. This taste and choice of the upper class are directly proportional to their high-end earnings. They demand luxury in almost every field and the real estate developers in the country see it as a good opportunity to bring in the concept of exclusive luxury to satiate their want.
Developers are finding the metropolitan cities like Delhi, Mumbai, Bengaluru a perfect place to sow the seeds of branded residences in the country. Most of these projects are taken up to match the style quotient and comfort level of NRIs since they see it as a good investment plan.
Why branded residences?
The collaboration of real estate developers with hospitality chains or high-end fashion brands is paving way for aspirational luxury and expensive brands into the country. These developers wish to deliver property that has outstanding amenities, lavish stay, and undeniable resort-like experience.
Fashion brands like Armani, Versace, Moschino have joined hands with top-notch real estate developers. The various hospitality providers across the world see this as an opportunity to bring the private residential concept to India for leisure and corporate travelers who choose luxurious home stay experience over hotels. Five-star services such as spa centers, gym, chauffeurs, etc are included in the projects to give a first class experience to the residents.
There are many parameters that can define the pricing of a branded residence. For instance, it can depend on the associated brands, the hospitality partners, and the project site etc.
Real estate developers generally prefer locations of higher value for their project. Cities such as Bengaluru, New Delhi, and Mumbai are always among the top choices for real estate projects. The prices at these locations are generally 20-30% higher than the average market price. For instance, a branded residence in Gurugram would cost much higher than an apartment in Pune at MG road.
Branded residences in India
The developers have already executed some of the real estate projects while there are few new ones that shall soon be launched by the companies. Here are a few examples:
- Provenance land would replicate their model of hotel-branded residences in different regions of Mumbai after delivering their project successfully at worli.
- Lodha Group, the top most real estate developer from Mumbai is collaborating with the world-class high-end luxury brands such as Armani, Kelly Hoppen, Donald Trump for few projects.
- Homestead and Brys in Delhi NCR have got the name of Lamborghini and Schumacher for their luxurious projects.
- Supertech and Prestige are some of the top-notch developers in Delhi-NCR. They started a project where they would bring Disney in Delhi NCR and Bengaluru.
- ABIL Group is a well-known developer in Mumbai. It has partnered with one of the most luxurious brands i.e. Versace for a project at Hughes Road in south Mumbai.
Some of the well-known developers in India such as Equinox realty, Brahma Corp, and Panchshil are coming up with brands like FTV, Kelly Hoppen, and Swarovski in Pune.