Tag Archives: Indian luxury real estate

Triplexes and duplexes are becoming more common in the ultra-luxury real estate market

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Mumbai’s wealthy citizens, who seek forward-thinking and upward-looking homes, prefer a novel idea of ultra-luxury living. In Mumbai, duplex and triplex apartments redefined the definition of living in luxury.

Duplex and triplex apartments are becoming increasingly popular in Mumbai’s ultra-luxury residential market; they bring back memories of the bygone era when sprawling bungalows typified luxury living in this megacity. Mumbai’s wealthy citizens, who seek forward-thinking and upward-looking homes, prefer a novel idea of ultra-luxury living.

This change in the real estate market is especially noticeable in affluent areas like Worli, Bandra, Borivali, and Malabar Hill, where quiet neighborhoods provide an amazing setting for these lavish residences. These dwellings stand in stark contrast to the conventional horizontal ones. Large families will find plenty of room and privacy in these vertically designed spaces.

To put things in perspective, duplexes normally have two stories connected by an internal staircase or elevator, whereas triplexes have three stories connected by an internal staircase or elevator. The numerous bedrooms and living spaces on each floor add to the feeling of luxury and exclusivity.

Imagine a living area that is two stories high with a ceiling that reaches 24 feet. It gets a boost from wide balconies and terraces. Luxurious modern living is available to inhabitants of these architectural wonders, perched high above the busy city. These belong to the ultra-luxury housing market, which is currently very active. A discriminating group of purchasers is driving the demand for such opulent homes. High-net-worth individuals (HNIs) and NRIs are driving the hunt for luxurious real estate showcases of distinction. For these buyers, duplexes and triplexes provide opulent living quarters and are excellent investment opportunities. These opulent residences are affordable for a limited number of people, with starting prices as low as Rs 12.5 crore and prices that can reach over Rs 100 crore.

Duplexes and triplexes are becoming more and more popular as real estate investments that offer luxurious lifestyles and significant returns on investment. The emphasis has shifted to vertical expansion as redevelopment projects have sprung up throughout Mumbai, many of which are limited to small land parcels. Additionally, even in locations that have little room for horizontal development, developers now have the option to include duplex and triplex units.

These spacious residencies appeal to more people than just the wealthiest NRIs or conventional luxury buyers. A new customer demographic is developing, keen to modernize and reflect sophistication and finesse in their lifestyle choices. This change suggests that luxury in Mumbai is more about the caliber and distinctiveness of the living experience provided by the buyer’s chosen neighborhood rather than being restricted to particular regions.

Luxury duplex and triplex units with a sea view are 10% to 15% more expensive because of their stunning views. Homebuyers seeking an opulent lifestyle have a strong preference for these units. Despite their high prices, the appeal of living in a sky duplex or triplex with large, open areas and abundant amenities keeps affluent buyers interested.

Mumbai’s performance on the international scene is also a reflection of the growing demand for ultra-luxury real estate. Mumbai made a spectacular ascent from 37th place in 2022 to 8th place in 2023 on Knight Frank’s  Prime International Residential Index (PIRI). This places  Mumbai firmly among the top 10 leading luxury residential markets and shows an impressive 10% year-over-year growth in annual luxury residential prices. 

Upmarket is extremely sought-after due to several factors, including the dynamically shifting nature of the market, intense pricing competition, and government initiatives aimed at promoting greater transparency. The demand for ultra-luxurious residential properties has significantly increased due to India’s rapid modernization and urbanization. The emergence of duplex and triplex residences in Mumbai’s ultra-luxury real estate market bears witness to the city’s changing goals, as can be observed upon closer examination.

Attracting the most affluent and discriminating buyers, these vertical living spaces offer an unmatched blend of luxury, space, and height. As long as buyers are drawn to vertical homes, Mumbai’s luxury living standards will be redefined, eventually elevating these multi-level residences to new heights of elegance and sophistication. 

Luxury villas in the sky: Mumbai residents are now upgrading to duplex and triplex apartments

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Move over, Jodi Apartments: Duplex and triplex homes are the most popular trend in Mumbai. Experiencing ‘villas in the sky’ rather than combining two apartments into a ‘Jodi unit’ is the new norm, particularly among luxury homebuyers looking to upgrade to larger properties. 

Advertisements promoting ‘the lavish lifestyle with cost-effective duplex  flats in Mumbai’ or a beautifully designed 4 BHK duplex apartment with a private terrace for sale in Bandra.’ It is appropriate for a large family, so do not be surprised. Vertical instead of horizontal spread is the trend, and Mumbai residents are going all out to get a piece of this luxury living. 

Jodi apartments, balconies, and duplex housing units 

If the Jodi apartment concept, or the trend of balconies, gained traction in Mumbai earlier, it is time for duplex and triplex apartments. Jodi apartments combine two or more housing units into one. Jodi apartments and the duplex/triplex units provide more space and privacy for large families living under one roof. Buyers willing to pay a premium are now looking to improve their lifestyle by moving into duplex or triplex apartments. 

Suraj Estate Developers is selling the 42-story Ocean Star Tower built by Prabhadevi.

“We are now offering separate floors for the 50-story project ‘Suraj The Palette’ in Dadar (W). However, we can always change the plan if there is a high demand for duplex units on our upper floors,” said Rahul Thomas, Suraj Estate Developers’ Wholetime Director. 

Ocean Star, Tranquil Bay, and Mangrish are the company’s projects, which offer duplex apartments ranging in size from 2600 to 5000 square feet. 

“The trend among Mumbai buyers to own duplex and triplex apartments reflects a shift in their tastes. Most high-net-worth individuals value spacious living over price,” he told HT Digital. 

Sky bungalows have double-height living spaces.

“We have identified an inclination towards duplex apartments, with individuals desiring ‘sky bungalows’ that feature double height living spaces with a ceiling height of 24 feet in the living room- a feature typically only in villas,” he adds.  

HNIs in Mumbai are considering upgrading their lifestyle to duplex and triplex apartments. According to Parth K Mehta, CMD of Paradigm Realty, these homes are investments and lifestyle statements. Prices range between Rs 12.5 crore and Rs 100 crore. 

Redevelopment projects meeting the demand  for duplex and triplex units 

According to Ritiesh Mehta, Senior Director and Head (North and West), of residential services and developer initiative, JJL India, the trend for duplexes and triplexes is becoming more prevalent in Mumbai, particularly as redevelopment activity increases in the city.

“Many of these redevelopment plots are small land parcels, and there is little room to turn a 1000 sq ft into 3000 sq ft apartment horizontally. Rather than Jodi apartments, demand has shifted to vertical units with greater height and larger floor plans,” he said. 

“Prices for sea-facing duplex and triplex luxury housing units typically range between 10% and 15% higher,” he said. 

Architects believe that Mumbaikars’ design preferences have changed since the pandemic. Many buyers today prefer vertically distributed housing units over horizontally distributed ones. They are currently looking for more floor height. 

“Even if you combine two apartments into one Jodi, the ceiling height remains constant. People want more volume in terms of height; they want double height homes with more space and high ceilings, which may not be possible on a single floor,” said architect Hardik Pandit, director of APICES Studio Pvt Ltd, to HT Digital. 

The number of duplex and triplex units in a building depends on its number of stories and location. “We initially plan for two to three of these units in a building, but we may decide to increase the number on the upper floors based on demand.” 

These units are typically found on the higher floors of a sea-facing building and command a premium in terms of price,” he said. 

Will the duplex replace the Jodi apartment concept? 

When asked if this concept is expected to replace the ‘Jodi trend in Mumbai, he stated that the demand for ‘Jodi apartments’ will continue because it is age-related. “If a family consists of young children, they may prefer to go in for a duplex or triplex for that bungalow experience within an apartment; however, if the buyers are elderly, they may want to go in for a large ‘Jodi apartment.” 

It is also worth noting that duplex and triplex apartments are usually only available in certain areas. “If you have quite a few of these units, sales may slow down due to their high cost.” Furthermore, these will only thrive in certain environments, particularly sea-facing buildings. “Many of these units have design features like viewing decks and terraces,” he says.