Super Homes for the Super Rich

‘The real estate industry is really going through a very bad time’ – A oft repeated phrase in realty circles these days. But is it really true? Well, not completely, if the recent spate of super-luxury projects announced by a slew of reputed developers’ pan-India is any indication at all.


Sample this,

The World One Towers, Mumbai:
Expected to tower over Mumbai’s skyline with its 117-storey’s, this stratospheric 1,400-ft tall luxury residential project is being developed by the Lodha group at Lower Parel, south Mumbai. The 3Bhk villas come with ‘curved’ living rooms with a deck attached while the 4Bhk variety come with a ‘private pool’ no less. The elite mansions on offer here feature a double height living area complimented by 360-degree views of the sea.

Situated in a 17-acre plot on what used to be Shrinivas Mills, World One boasts of elevators that travel eight meters per second, while their interiors have been designed by Armani/Casa. The tower’s residents will also have two custom-built Rolls Royce sedans at their beck-and-call, on a time sharing basis.

Launched in 2010, this prestigious project is scheduled for completion in 2016.

Price Tag: A whopping INR15-20cr for the 3 & 4Bhks, while the mansions are expected to be priced in excess of INR 100cr.

4 Bungalows @ INR 190cr-plus each, New Delhi:
Yes, you read that correctly. Tata Housing which recently purchased an old bungalow at the super-exclusive Lutyens Enclave in the capital, plans to reconstruct four standalone bungalows on the plot, each priced at an astounding INR190-plus each.

Panchshil Trump Towers, Pune:
The US-based Trump organisation’s first-ever project in India, in association with Pune’s Panchshil group, Panchshil Trump Towers is a twin tower, 23-storeys each residential project at Kalyani Nagar, right next to the historic  Aga Khan Palace.

Each floor houses a single exquisite 5Bhk luxury apartment and features a concierge service to pamper its residents every whim.  This premium project also includes a wide array of facilities such as exclusive indoor & outdoor games area, fully-equipped fitness centre, outdoor lap pool & kid’s pool, a yoga & exercise room, 24-hour security, personal CCTV, video door phone, card access, fully stocked library with special editions and high speed elevators that take you to your floor within 30 seconds.

This project recently made news when Suzanne Roshan, the former wife of actor Hrithik Roshan is said to have forked out a cool INR16cr to buy an exclusive apartment here for ‘investment’ purposes.

Price Tag: Begins from INR13.71cr-onwards for a 6,100 sqft apartment.

Ahuja Towers, Mumbai:
An exclusive project by Ahuja Constructions at Prabhadevi, Mumbai, Ahuja Towers is a 53-storeyed residential tower comprising of lavish 4Bhk apartments and 5Bhk duplexes with an unrestricted sea-view. Located close to the imposing Bandra-Worli Sea Link, Ahuja Towers also includes a 10-storey car park and its first condo begins on the 14th floor.

Contemporary amenities on offer here also include, a children’s play area, lap pool, music corner, sports stimulator, 2 Card Rooms, Snooker Room, Table Tennis/ Multipurpose Area, Squash Court, Gymnasium, walk-in-wardrobes (in the Master bedroom) and marble tiled bathrooms.

Price Tag: INR33cr-onwards for 4 & 5Bhk apartments ranging from 5700-6300sqft.

Omkar 1973, Mumbai:
Centrally located at Worli, this under-construction project by Omkar Realtors and Developers occupies approx 4.5 acres and consists of 3-towers of 69 floors each. The project, which is scheduled for completion in December 2017, features a choice of 3, 4 & 5Bhk luxury homes from 3,923-6,015sqft.

Omkar 1973 comes with a full array of lifestyle facilities spread over a massive 2.25 lakh sqft that: Aqua gym, Concierge services, Spa, Launderette, twin infinity pools, Banquet hall, Squash court and extended jogging track.  Also included here is a swimming pool, gymnasium and a multi-sports hall.

Price Tag: From INR15.21cr-onwards.


Karnani Villas, Lonavala:

This scenic project is headed by Manish Karnani, MD, Multichem Specialities Pvt Ltd., and located 2200 above sea level at Tungarli (Lonavala), surrounded by hills and valleys, natural landscapes and breathtaking views all round.

This villa project offers buyers a choice between two options, namely Hillcrest Mansion and Fairview Mansion. The former has been designed by Ajit Shilpi, the well known architect and designer with several successful restaurants and hotels in his list of interior & design accomplishments. 

Scheduled for completion in March 2015, Hillcrest Mansions stand on a plot area measuring 1050 sq meters and includes a constructed area of approx 10,000 sqft.

Fairview Mansions have been designed by globally renowned, award-winning architect Reza Kabul, whose outstanding design repertoire covers a wide array of projects that include hotels, hospitals, interiors, refurbishments, malls and commercials, urban design, planning & landscape spanning Dubai, Mauritius, Bhutan and India.

This project is situated on a plot area of 1,200 sq meters with a constructed area of approx 11,000 sqft. Fairview Mansions is scheduled for possession around March 2016.

Price Tag: Hillcrest Mansion is priced at approx INR13cr while Fairview Mansion stands at INR 14.5cr.

There are several other ongoing and newly launched premium residential projects that though priced in the sub-10cr range are still sought after by the well-heeled. Like the Mumbai-based Wadhwa Group’s The Atmosphere (@Mulund) and The Address (@Ghatkopar), that boast of automated car washes and separate restrooms for service personnel.  

While The Atmosphere is a newly-launched 36-storeyed project in tandem with the Man Infra and the Chandak Group, offering 2/3/4Bhk apartments moderately priced from INR1.5cr-onwards, The Address offers spacious and skillfully designed 2.5/3/4Bhk flats priced from INR1.8cr-onwards.

The Brigade Group’s Rhapsody project down south at Bengaluru also falls in this category. Centrally located on the city’s Palace cross road, this lifestyle project features only 8 exclusive 4Bhk apartments measuring a spacious 4,725 sqft, with several modern amenities thrown in like broadband Internet, tennis court, gymnasium, club house, vitrified flooring and a community hall.


In Delhi too, reputed developers that include the likes of India Bulls, Arvind Realty and Godrej Properties have launched palatial homes for the ultra-rich starting from INR4cr.

With so many projects being launched in recent times, the premium and super-premium category of residential projects is quite clearly alive and thriving. A trend, that also subtly hints at an increasing number of millionaires and well-heeled buyers in India who are the target for such exclusive projects.

Highlighting this trend, the World Wealth Report (2014), released by Capgemini and RBC Wealth Management, states India hosts approx 156,000 HNIs. The number of billionaires in India is also estimated to grow near 100 percent by 2023, ahead of China’s 80 percent, as per consultancy firm Knight Frank's Global Wealth Report 2014.

Though the luxury segment is said to account for a meagre 5-7 percent of the total volumes of the real estate sector, developers are bullish that given the increasing number of the rich and super-rich in India, the return of foreign institutional investors into domestic realty space and the government’s stated earnestness to push urban development via the proposed Smart cities concept, the demand for luxury abodes can only grow in the time ahead.