Italian marble on floors, jacuzzi in the bedroom and a very personal swimming pool.
What is more, a golf course in the backyard with a terrace garden in the front. . . Luxury has just got redefined as far as housing is concerned.
High-end housing, especially penthouses, are the hottest item in the real estate business, with expected growth pegged at over 30 per cent.
"It is not just Non-Resident Indians and businessmen who are driving the penthouse market, but also professionals, designers and socialites who prefer them," says J P Dabbas, Project Director, Aloha, a building company.
"The top two floors of the apartments are generally converted into penthouses, each one spread over an area of 5,000-8,000 sq feet, coming in the range of Rs 1.9 crore (Rs 19 million) to Rs 4.5 crore (Rs 45 million)," he says, adding, "most of them are coming up in the National Capital Region."
"These crore-plus homes have become the latest style statement and boast of every amenity in the book. And they are all sold out," says Sheetal Gupta of Omaxe Constructions.
"Centrally air-conditioned, these penthouses come with a terrace pool, a jacuzzi in the master bedroom, terrace garden, etc," she says.
For the upwardly mobile and the fashion-conscious, these penthouses have in fact become a necessity. . . the demand is so much that it is not able to meet the supply as an apartment block can just have two penthouses, says Rajiv Dayal, an industry expert.
On who is buying these penthouses, he says: "Industrialists, businessmen, corporate houses, top IT professionals, socialites. NRIs too prefer them. In fact, they are popular among all those who are used to a certain kind of living standards abroad."
"With penthouses, you are not just buying a home but a lifestyle. Besides penthouses, the market for whole of high-end houses is growing fast," says Gupta.
The demand is highest in Delhi, NCR and Mumbai, followed by Bangalore and Kolkata, says Dabbas.
Most of these high-end apartments come in the Rs 1 crore-plus (Rs 10 million-plus) segment and are a blend of old world charms and modern infrastructure.
Says Kunal Banerjee, vice president, sales and marketing, Omaxe, "The USP of these apartments is comfort and luxury, with the focus on innovation, quality, design excellence and technical advancements."
"The reason for the recent growth in this high-end segment is a strong economy and big pay packets. This, along with attractive housing finance options, has made it possible for more people to aspire for such high-end housing," says Gupta.
