The branded homes concept has become the latest trend in the residential sector. The demand for branded homes is increasing in top cities.
MUMBAI: The demand for branded homes is increasing in top cities. Many developers like Supertech, Lodha, Ireo, 3C Company, and so many others are coming up with branded home projects. This increasing number of branded projects shows that it has become the latest trend in the top-end luxury segment.
Though the branded homes are offered at higher prices, it does not affect the buyers’ sentiment. As the demand for such projects are mainly raised by the top earners, prices are not an issue for them at all. Average price of a branded homes project is between Rs.10 Cr to Rs.25 Cr.
It means that there will be no such home within the range of a comparatively higher income group. It is affordable only for the super HNIs and not for anyone else.
Over the years, the concept of luxury has undergone vast changes. Earlier people used to consider amenities like swimming pool and other sports facilities as symbols of luxury. However these are no more considered as part of luxury.
In the opinion of the top earners, these have become common with almost all the projects. Thus they consider it as suitable for the middle income class. It means that their concept of luxury is far beyond this. For them the best option is branded homes.
Perceiving this increasing demand for branded homes, many realty developers are coming up with such projects.
Joining hands with Italian Fashion Designer Giorgio Armani, Supertech is developing a branded homes project.
Homestead’s Maria Sharapova Tower and Michael Schumacher Tower are also examples. These two sports oriented projects are being developed in Gurgaon. More importantly the Tennis queen and the F1 legend are the brand ambassadors of these projects.
Lodha, Ireo and 3C Company are other major developers who have such branded projects under construction.
