In recent past, the National Capital Region (NCR) has seen a swing of luxury apartment launches in the region. A number of such high-end projects with world-class specifications were launched in the last one-year; these come with the promise of high-quality after-sale services and, in some cases, with an assured provision of 5-star living experience.
Developers are binding up with 5-star hotels and renowned brands, which are laced with luxury in the world, to provide 5-star room services to their customers after the delivery of the apartments.
The major players who have already launched such projects are Supertech, Ireo, and 3C with Four Seasons. In all these projects, room services will be provided by the hotel group in the tie-up to the occupants of the apartments.
Supertech has also launched super high-end projects with global luxury brands like Armani, Swarovski, and Disney.
The super-premium apartments in the NCR come with a price tag that is upwards of Rs 17,000 per sq ft.
Most of these super-luxury condominiums like Aralias and Magnolia, which are currently quoting at Rs 22,000 per sq ft to Rs 31,000 per sq ft, are by DLF. But the company, which is the largest real estate firm in the country, is not following the latest trend of launching superluxury projects in collaboration with global luxury brands.
Some of the developers have indicated that the price of their projects will be upwards of Rs 26,000 per sq ft. At the same time, as the size of luxury apartments varies between 5,000 sq ft and 9,000 sq ft, their net cost, too, varies in the range of Rs 7 crore to Rs 22 crore.