With an increase in the earnings of salaried class, today majority of individuals love to live a luxury lifestyle. The same has created a positive impact on the realty sector too. A branded residence is the perfect example of this segment.
In recent years, the market has witnessed an increase in the demand for uber and premium segment homes. Due to this, developers are keen on experimenting with this segment to provide the best-in-class services and lifestyle to the premium category homebuyers.
What is Branded Residence?
A branded residence is the one where the developers collaborate with leading hospitality firms and fashion brands to provide world-class private and customized units to the buyers. These luxury units offer an array of services along with luxurious amenities, lavishly designed interiors, chauffeur on call, private spa centers, gym, sports and internet facilities, etc.
The global luxury facilities offered in these residences are not only attracting the HNIs and uber-class segment but also have become a good source of investment from NRIs. Because of this, most of the branded residences are developed keeping in mind the style quotient and comfort level of such buyers and investors. At the same time, fashions brands and global hospitality firms like Armani, Versace, Golden Tulips, etc. are also using this as an opportunity to provide leisure and corporate facilities to the business personnel and travelers who are now choosing these residences over five-star hotels.
Branded Residences: Top Cities to Look For
These Branded residences are quite popular in Tier-1 cities like Bengaluru, Mumbai, Gurugram, Pune, and Noida. Developers like Lodha, Provenance Land, Prestige, ABIL Group have already marked their presence in this segment and have collaborated with brands like Armani, Kelly Hoppen, Lamborghini, FTV and Disney to develop world-class luxury apartments in these cities.
Branded Residences: The Price and Future Trend
As these residences are crafted with lots of perfection, hence their price is also 20-30% higher than other luxury apartments. Other than this, the pricing strategy also depends on the associated brands, hospitality partners, locality and city.
For instance, a branded Residence in Mumbai will be costlier than in Pune.
Due to this, most of the developers construct only 5-6 such units so that the balance between demand and supply can be maintained.
Moreover, with an increase in the luxury-segment buyers, HNIs and NRIs, the confidence of developers in constructing such homes has also increased. Today, buyers are looking to invest in Branded residences that are a true embodiment of fine construction and superior amenities. Seeing this, it can be said that the demand for such homes will be going to increase in years to come.