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Why is the luxury segment a preferred choice for 2022

Luxury flats in Worli, south Mumbai

The pandemic has made the world realize the value of investing in flats in Mumbai and other growing metros in the luxury segment. With the markets reopening, the economy is also regaining its lost steam. The real estate sector in south Mumbai, in particular, has benefitted from the significant development in the infrastructure viz Eastern Freeway extension, the 22.2 km along the western Coastal Road being built from Marine Drive to Worli, underground Colaba-Bandra-Seepz Metro, Worli Sewri connector, water taxis, etc.

This development in infrastructure has also become a significant factor for most of the HNI homebuyers who are optimistic about investing in luxury properties, especially the 3 & 4 & 5 BHK luxury sea-facing apartments in south Mumbai. South Mumbai, namely Worli, has a strategic location and easy connectivity to major business zones in the Western Suburbs and South-Central Mumbai, making it the preferred residential address. The reduction of the number of COVID cases and the learning from the past waves has brought the preparedness of the segment to retain its buyer’s interest based on location and lifestyle preferences.

Upgrade in Lifestyle
The pandemic has made people value living in luxury homes. The widely traveled home buyers who have experienced luxury living aspire to live in an uber-rich ambience with spacious homes, close to nature, and better amenities.

Some homes in south Mumbai, like Vraj Tiara, Worli, offer amenities like a dedicated floor to the gym for health and fitness, jogging track, and other terrace amenities like mini-golf strip and barbecue sit out, cafeteria and kids play area, sky view deck for the social butterflies.

    WFH & Hybrid Work Model Lifestyle
    Most companies have realized that flexibility in working from home has only benefitted the overall productivity. So, working from home would only mean that one needs larger spacious homes that can give them personal space within the sanctuary of their homes.

    Invest for Better Returns
    The price escalation phenomenon in our country is thriving in metropolis cities like Delhi- NCR, Mumbai, Bangalore, and in holiday destinations like Goa as compared to the other nations where real estate prices have frozen. For most HNIs, it is a favorable moment as the real estate prices are predicted to escalate in the second half of 2022, after 18 months of near-stagnation.

    Other contributing factors
    Several other contributing factors gave rise to the demand in the luxury real estate segment. With ESOP monetization at an all-time high, the surge in demand for luxury 3 BHK, 4 BHK, 5 BHK flats in Mumbai is mainly seen as unlocking wealth in the start-up sector. The employees are diverting the monetized amount into the luxury residential sector as it helps them make better utilization of funds with huge tax arbitrations.
    The luxury housing segment will see a sharp rise in home buyers who are inclined to buy homes in tier 1 cities with luxury amenities where they can match the lifestyle of a world traveler.

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