Indian Real Estate: Realty Check

                                                                                         

India Real Estate: Homing In

The city’s hustle and the bustle leaves one craving for the solace of bright, sun drenched filled open spaces, where the chirruping of birds can be heard, as tranquillity and cool breezes win hands down over the hectic commotion of inner city life. If that’s your state of mind, then you need to give up your city home for a villa in the suburbs i.e. you need to go in for “a pretentious, luxurious country residence with extensive grounds”. Uncommon in the metros, where bungalows replace villas in cities like Mumbai, smaller Indian towns and cities, and the metro suburbs, still have them.

While, the Indian economy sizzles hotter than expected, the residential fancies of Indians, and that includes a fair portion of NRIs, wing higher and higher as they look around charged with the desire to live in the lap of luxury. And, modern day developers and builders do not disappoint, as they build them villas complete with Jacuzzis, hammocks on sprawling laws, swimming pools and golf courses. Ranging in size, anywhere from 2,000 to 4,000 sq. ft., these villas can cost upwards of Rs. 1-crore, with construction costs higher than that of regular buildings, ranging from Rs. 700 to 2,000 per sq. ft. This you should be aware of if you are planning to buy a villa, as often builders leave a few open spaces for self-construction, within a stipulated period of time, of course.

A popular trend, villa construction in cities surrounding major metros like Gurgaon (Delhi) and Lonavala (Mumbai) is on the rise in a big way, with the starting price of a Mumbai villa, anywhere around Rs. 4-crore or upwards i.e. Rs. 7-crore on an average. And, if other factors like location, sea view, resident profile, isolated or surrounded by buildings is taken into account, the cost rises, ever higher.

With villa construction mushrooming in the suburbs of Bangalore, Goa, Rajasthan, Gujarat and Kerala, the builders differ in their style offerings, from Roman, Spanish, Portuguese, to name a few. The more luxurious the villa, the higher the price, and if you are a simple salaried person, it is best to dream about villas, instead of trying to buy one. Expensive, they are out of range for the working class and should be left alone for the NRIs or those who are amongst the top echelons of business families and firms, those who can afford them.

While, everyone wants to live in the lap of luxury, realty / reality check drums home the fact, we cannot afford to!

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Source:IndiaRealEstateblog

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