Homes in Bangalore have moved on to a higher plane. The transition from standard flats to sprawling complexes that offer the best living experience, has indeed been a giant leap for premium properties. Today, builders are enticing consumers with offers that are hard to resist. It is little wonder then that luxury homes and villas are selling like hot cakes in the Silicon City. For luxury apartments in the city centre, amenities are no more a criteria as opposed to developments in the upcoming areas where there is a demand for recreational and other facilities. Says Karun Varma, Local Director Corporate Solutions, Jones Lang LaSalle Meghraj, “Luxury apartments in CBD are in demand — the price bandwidth of INR 10,000 -15,000 proving not to be much of a deterrent. Gesco, Nitesh, Sobha and Prestige, have all launched super-luxury apartments in the city centre and all with the exception of Nitesh, are sold out. This holds good for luxury apartments in other parts of the city such as Indira Nagar, Koramangala, Sadashiv Nagar and Malleswaram, with capital values ranging between 5,000 and 10,000 in these areas.”

New era of realty
Kristal Group was the first builder that visualised the potential of Bellandur zone by launching Kristal TIARA. This is a 2-acre property with independent villas without a compound between two villas. The total property is compounded with security, landscaping and attached with common amenities like clubhouse, swimming pool, gym, etc. The campus is provided with a supermarket, clinic and medical shop.

Builders in Bangalore today are launching luxury homes and there are several takers for these premium properties.

Take for instance, Mantri’s Espana. Touted as spacious Spanish-styled homes with rich Mediterranean landscape and glamorous amenities, this property is targetted for those with a taste for high living. Designed around Spanish colonial architecture, it unifies the Mediterranean style with modern design-patterned arches, tiled courtyards, red roof and terraces along with expansive windows and open space.

The amenities attached to this property include 5 swimming pools, 9-hole mini golf course, ATM centre, food court, meditation centre and much more. These properties start at a basic price of Rs 1.30 crore and there are 3, 4, and 5 bedroom apartments available in areas ranging from 2,500 to 7,500 sq ft.

At Mantri, the company focusses on the top end of the market, specialising in luxury homes. In fact, the company recently won the CNBC CRISIL Real Estate Award 2007 for the Best Residentil Property in the country, for their exclusive project Mantri Altius. Located on Raj Bhavan Road, the property features only 15 super luxury centrally air-conditioned 4 bedroom apartments of 5,500 sq ft each, all with a 360 degree panoramic view of Bangalore’s Central Business district and 240 acres of Cubbon Park.

“The project was offered for sale only by invitation and was sold out within a few weeks after it opened for sale,” says Hari Menon, VP Marketing, Mantri Developers Pvt Ltd.

Nitesh Estates has four properties in the luxury and super luxury segment. Two of these, ie, Nitesh Wimbledon Park and Nitesh Mayfair have been completed and occupied. The other two, ie, Nitesh Buckingham Gate and Nitesh Canary Wharf, are in the various stages of completion with 75 percent of the apartments booked. Nitesh Wimbledon Park comprises grand vistas, sophisticated urban surroundings and state-of-the-art amenities and overlooks the Bangalore Turf Club’s racetrack.

Located at the Kasturba Road in the heart of Bangalore city is Nitesh Mayfair, the marquee project of Nitesh Estates. It’s 13 exclusive homes that are designed and engineered by architects of international repute, have been built exclusively for upper echelons of Bangalore’s society, who treasure their privacy. 

Nitesh Buckingham Gate combines the old charm of Lavelle Road and its lush green surroundings — the perfect locale for the exquisite residential condominiums. Nitesh Canary Wharf, situated in Langford Town, has capacious apartments that are the perfect definition of a dream house. 

The demand comes typically from successful entrepreneurs, top executives of companies and NRIs’. Also the easy availability of loans is another factor that fuels demand for premium homes. The best part is that this demand is pushing builders to offer more and more.

So at the end of the day it is the consumers who are able to get their cake and eat it too.