India’s economic growth story continues, notwithstanding the hiccups. With a growing entrepreneurial spirit in the young and educated, the country is now talking about crossing 100 Unicorns, soon. There is a growing number of High Networth Individuals (HNIs) as the upper-middle and upper-class sections of society experience significant wealth creation. One of the key lifestyle choices of these HNIs or Billionaires is the location of their luxury homes and real estate investments. Mumbai - the financial capital of India - has been the trendsetter, while the IT cities of Bengaluru and Hyderabad are starting to take over. 

India's Billionaires favour Malabar Hills and Juhu in Mumbai, Jayanagar and Koramangala in Bengaluru, along with Jubilee Hills and Banjara Hills in Hyderabad, for their residential plans and/or Real Estate Investments. These trends have resulted in the emergence of a growing industry that provides professional Real Estate Investment and Wealth Management services. Some of the top investor advisory firms and Real Estate Investment Advisors such as Indiassetz now provide personalised services to their wealthy clientele.

Mumbai

Most of the posh localities in Mumbai are located close to the Arabian sea or offer a good sea view. Malabar Hills, Cuffe Parade, Juhu, and Colaba are amongst the favoured destinations for many industrialists, sportsmen, film celebrities, and other wealthy families. Super Luxury Apartments and a few Bungalows dot the landscape in these highly sought-after localities in Mumbai. Ratan Tata, Amitabh Bachan, and Virat Kohli are some of the well-known names who reside here.

With well-developed amenities, good schools, and nearby super-speciality health care, these prime localities command excellent value for properties. Prime Properties in Juhu, Cuffe Parade were listed in price ranges of ₹42,000 - 48,000 per sq. ft. Prime real estate in Malabar hills is going for upwards of ₹53,000 per sq. ft.

Bengaluru

Koramangala 3rd block in Bengaluru is now the latest preferred residential locality for the city’s growing Billionaires. It is home to Infosys’ co-founder Nandan Nilekani, Dr Devi Shetty of Narayana Hrudayalaya, and Ajit Isaac of Quess Corp. Called Billionaires Paradise, Koramangala 3rd block has large size plots of over 4000 sq. ft. that attract these HNIs. Kormangala’s relative proximity to HSR Layout and Electronics City, which houses the businesses of these HNIs, provides added convenience. 

Bungalows spread across a plot area of 4000 sq. ft. command rates of ₹25,000 per sq. ft. An HNI recently purchased a prime real estate property of nearly 10,000 sq. ft. at a rate of ₹58,000 per sq. ft. With many good schools, shopping malls, and multi-speciality hospitals in the vicinity, the area attracts the interest of many HNIs and NRIs – for their home plans or investment decisions.

Jayanagar in South Bengaluru is another preferred residential destination for the city’s super-rich, with Infosys Founder - Mr Narayana Murthy and GMR Group’s Chairman - Mr G. M. Rao being their wealthy residents. Still retaining the charm of old Bengaluru with tree-lined avenues and public spaces, Jayanagar commands excellent property rates - ₹40,000 per sq. ft. for 4-6 bedroom independent bungalows.

Hyderabad

Hyderabad’s Banjara Hills is home to the crème de la crème of the city. Considered an aspirational locality, the swanky neighbourhood has star hotels, posh eateries, happening restaurants and cafes, shopping malls, and the best healthcare services. Leading property developers frequently launch luxury apartment projects in the area.

Jubilee Hills, located in the western part of the city, is a relatively new posh locality. Industrialist G. V. Krishna Reddy and Tollywood actor Charan are amongst the many HNIs who reside here. With Banjara Hills to the east and Hi-Tec city to the west, the area has many prime properties under development and sale. 

These prime residential plots fetch excellent rates of ₹12,000-20,000 per sq. ft. depending upon location and orientation.  

So, trends in exclusive localities of these Indian cities confirm a continual upswing in demand for prime real estate properties developed by renowned builders. Indiassetz, a reputed Real Estate Investment Advisor and Asset management company provides convenient end-to-end services covering legal vetting of documents, property registration assistance, quality construction, and interior furnishing amongst others. Such personalised services facilitate HNIs and NRIs to move into their luxury homes with minimal hassle.

In keeping with the times, Indiassetz also offers digital solutions for clients to remotely monitor their real estate portfolio, helping them manage their investments from the convenience of their homes. HNIs and NRIs who are looking for luxury residential property - for living or investment purposes - can be sure that Indiassetz can service their needs.

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