Boutique Homes, the ultra-luxury segment Real Estate property
As per a recent report, demands for Boutique Homes is increasing in Indian market. It was highlighted that developers are becoming more interested in this segment of luxury homes. Especially, after successful implementation of RERA in India, affordable segment of real estate had a strong boost, while, luxury segment was hit hard. The market still did not recover from the dip, but the industry in gradually pacing up due to the increasing base in affordable section. Against this backdrop, Boutique Homes or apartments are emerging as a niche segment with high growth in India.
The primary feature that differentiate boutique homes from luxury houses is the targeted consumer base. These estates are specially curated for a special section of home buyers. They are generally within the group of investors, capitalists and high net worth individuals. In a nutshell, boutique homes target high society buyers. Also, these apartments are especially attractive from investment point of view, high demand being the reason. Even though luxury segment is not doing fine, boutique homes are breaking the market.
Boutique homes are developed in small numbers and their availability is always limited in the market. They feature every high-end amenity available in luxury segment. The additional advantage in these homes is the customization as per requirement of buyers. Developers would build and attach features as demanded by home buyers. They are developed to offer quality rather than quantity. This is a reason of their limited development and hence scarcity. In a typical project, only 5 or 10 units of boutique properties are developed. The furnishings, interior decoration and lifestyle accessories forms an ultra-luxurious setup in boutique homes. Some common feature are private lifts, in-house jacuzzi, saunas, sun decks and swimming pools.
Developers invest high amounts in boutiques homes as they involve high cost of development. However, as their buyers already fixed, there is high profit in this market. The intricacies of these homes require specialized architects and builders.