(2016 October) Architect & Interiors India - Lurxury Housing

FEATURE LUXURY HOUSING

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LIVING LARGE WITH ITS MYRIAD FEATURES AND AMENITIES, LUXURY HOUSING WANTS TO PUT MORE THAN A ROOF ABOVE OUR HEADS

BY CAROL FERRAO

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1. Transcon Triumph is an award-winning project by ARK at Andheri, Mumbai.

e learn immensely about human civilisation by studying their settlements and architecture, and we have indeed come a long way from finding shelter under a rock to seeking gated communities with endless amenities including a pet salon. For many, it’s not just about fulfilling a basic necessity – but finding that perfect abode of comfort and beauty. Today, luxury housing (sign of our developing economy or a polarising term?) has established its own little niche in the real estate sector with a diverse demographic of buyers. “The economic growth of the country has created a new generation of consumers as diverse as senior corporate professionals, young working women who live with their families and are big spenders, successful entrepreneurs and farmers who have sold their land to developers,” explains Samujjwal Ghosh, deputy CEO-Pune and executive vice president-Marketing, Lodha.

Given the diversity of buyers, Ghosh admits that the word ‘luxury’ itself has different shades of meaning for each segment – traditional family business owners, the global Indian, first-generation entrepreneurs and business tycoons. For developers like Lodha, each of these segments constitutes a potential luxury consumer group with distinctive behavioural characteristics. “So, what got accepted as luxury (earlier) is not the case today. The Indian consumer is able to distinguish between true luxury, premium and high street brands, and the same is being witnessed in real estate as well,” he points out.

ARCHITECT and INTERIORS INDIA | OCTOBER 2016 | www.architectandinteriorsindia.com

Buyers are excited to own one-of-a-kind homes, in some cases designed by international firms (whom they have most likely not heard of before) and bursting with lifestyle amenities that will be conveniently accessible to them. “Customers, these days, are drawn towards novel concepts of living like resorts, global townships with new technologies, impressive designs and latest architecture,” asserts Amarjit Bakshi, MD, Central Park. While location, lavishness in space and exquisite materials defined the luxury housing of the previous decade, today much more is desired from a premium residential development.

“Emphasis on greater personal space, comfort, technology and amenities has evolved and transformed the concept of luxury real estate. The demand of luxury housing is not only prevalent in metros, but is also growing popular in tier II and tier III cities,” explains Ashok Mohanani, CMD, Ekta World. Lack of space in metropolitan cities and the huge potential of upcoming cities has meant that luxury is finding new addresses. And it is ascertaining its value by providing exclusive facilities for entertainment, leisure, security and relaxation.

However, it’s not necessary that developers see luxury housing as simply packing ‘as much’ in one project. Sanjeev Dhingra, MD of Turtle Group and Dhingra Projects Private Limited, sees luxury as understated elegance. “An ultra luxury residence is not restricted to just putting together high-end fittings, fixtures, finishes and furniture into a space, but should go beyond in terms of understanding the user and his lifestyle and enabling a space to perform

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optimally for the user. Design, therefore, becomes a very intrinsic part of the entire package,” he believes.

The term luxury, at best, is subjective and can be interpreted differently in different contexts. “Luxury is solely dependent on each individual’s standard of living. Price alone does not distinguish status. It is location, property entry, architecture, décor, decadent amenities, entertainment capability, open spaces and myriad other details that help a home stand out from the ordinary. One man’s simple home is another man’s castle and vice versa,” summarises architect Reza Kabul. director, ARK.

2. Elegant lounge area at Runwal’s The Residence, located at 91 Napean Sea Road, Mumbai.

3. Projects like Skypolis by Ekta World are taking luxury to the suburbs.

4. At Belgravia Apartments, part of Gurgaon’s Central Park, resort-like amenities add to the luxury factor.

THE LOCATION FACTOR Luxury residences are no longer confined to a specific location. Over the years, there has been growth in different areas within a city and its peripheral areas and, consequently, there is a migration of people seeking luxury homes in other suburbs that offer lower congestion levels and larger residential spaces. “Western and extended suburbs (in Mumbai) have emerged as a hotspot for luxury homes.

Recently, Worli has become a hub for most developers to come up with luxury projects, due to its proximity to the business district, suburbs and South Mumbai,“ declares Sandeep Runwal, director, Runwal Group.

Lodha’s Ghosh sees potential in newer city centres and

ARCHITECT and INTERIORS INDIA | OCTOBER 2016 | www.architectandinteriorsindia.com

LUXURY IN SQ-FT Nothing spells luxury more succinctly then a spacious home – a rare treat in most urban cities. So, how much space are developers willing to allocate to an apartment worthy of the tag ‘luxury’? “The size of luxury homes can differ yet again in formats and locations. If a region has the privilege of large spaces, then 5,000sq-ft upwards is considered luxurious or a bungalow/house format; alternatively, within the sought-after Mumbai suburban locations, penthouses and sky villas are the ultimate superlative of luxury. These, too, have similar square footage and, in some cases, it goes as high as 10,000sq-ft,” states Ashok Mohanani of Ekta World.

The general consensus observed among the developers is anywhere from 2,000sq-ft (in a space-starved but prominent location) to 12,000sq-ft (for a penthouse or sky villa). Lavish space allocation depends mostly on the city, location within the city and uniqueness of the site. An acceptable standard for luxury in Mumbai may not hold true in Gurgaon, where the relative cost of land is much lower. “Similarly, within Mumbai, as you move from new CBDs to historically significant locations and sites, the cost of land increases manifold – hence uniquely crafted residences in such locations become even more attractive, albeit with lower floor spaces. Clients typically prefer larger floor spaces in this category and look for unique options like duplex, triplex or penthouses depending on available floor space,” notes Samujjwal Ghosh of the Lodha Group.

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5. Lodha’s The World Towers at Worli, Mumbai, boosts of interiors designed under the supervision of Giorgio Armani.

6. Reza Kabul, director, ARK. 7. Beaumonte by Sheth Creators at Sion, Mumbai, offers apartments, villas and sky terraces overlooking the sea.

CBDs because new areas offer the ability to have larger sites, which reduces the development density. Unexplored sites at newer locations also implies more space for residents without comprising on the quality of life or the craftsmanship and detailing in the development and, at the same time, easy access to places of work and play.

However, he still states, “Luxury would always gravitate towards unique locations and historically relevant sites.

These cannot be replicated and, hence, the perception of luxury would be higher for such locations.”

Areas that would earlier not be associated with luxury are also welcoming exclusive townships designed by prominent firms. Kabul mentions, “Our upcoming project Regency Antilia in Ulhasnagar is the first of its kind in the vicinity that provides an integrated township model with various high-end amenities and conveniences; as over the years the vicinity has only seen stand-alone developments offering none or basic amenities such as parking spaces.”

This trend could also imply that luxury, in a way, is being made accessible to many more home buyers.

Scenic tourist locations are also being considered as hubs of new luxury housing projects, attracting a new set of young buyers who want the convenience of an urban life in their favourite holiday destination. “Location, obviously, is a key aspect for any luxury development. However, the luxury market is no longer restricted to only the big cities; it is a growing market in growing cities like Bengaluru, Chandigarh, Gurgaon, Pune plus tourist destinations like Goa, parts of Himachal Pradesh, Kerala, etc, especially from the point of view of the second home market,” points out Dhingra, who is overseeing the luxury residential project Turtle Villas in Goa.

ARCHITECT and INTERIORS INDIA | OCTOBER 2016 | www.architectandinteriorsindia.com

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CLIENT ASPIRATIONS While location still adds value to a luxury project, the client’s growing wish list is determining the luxurious nature of the development. “The luxury clientele looks for a swanky elevation, good planning of the apartments, fitness and lifestyle amenities along with green open areas in the development. Moreover, safety amenities, concierge and valet services, large lifts and common areas all contribute to customer appreciation,” states Runwal. Benefits that were earlier restricted to weekend visits to fancy city clubs are now easily accessible to prospective buyers.

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WHAT ARCHITECTS WANT If you could improve/change one design aspect in the way luxury residences/buildings are designed, what would it be?

Rahul Bansai, partner, DCA Architects: I would like to emphasise on the ‘selection of material’. This aspect is of paramount importance and can affect the resident(s) in the long run. For example, an architect can use local material favouring the Indian climate even for luxury housing...Some architects do not consider this aspect earnestly. In a nutshell, one should be careful about material selection.

Reza Kabul, director, ARK: Given the fast-paced lifestyle and the constricted space availability, I feel luxury should incorporate a certain aspect of functionality. A sense of space gives a home its premium.

Gaurav Sanghavi, joint MD, Pentaspace Consultants: Vastu, sometimes, creates a lot of constraints in planning and material use.

What are the pros and cons of the luxury housing trend?

Bansai: The pros are that it is improving the quality of life today and making it simpler for the residents. The cons are that the price increases and, at times, the idea behind getting value for money in terms of cost or worth gets defeated.

Kabul: It provides several amenities, convenience factors, larger floor plates, higher security, added layers of privacy and less noise.

These could be listed as some of the major advantages of investing in a premium space. However, these projects are not always necessary in all market segments. While several developers focus their resources on developing luxurious properties, there are micro markets that have a dire need of large-scale affordable housing.

Sanghavi: Creating a design in any material, shape and size in the Indian market is a possibility now. The main issue lies in maintenance and serviceability.

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8. Luxury buyers also seek distinct exterior elevation, like in the upcoming residential project by Pentaspace Consultants.

9. Rahul Bansai, partner, DCA Architects.

10. Gaurav Sanghavi, joint MD, Pentaspace Consultants.

The demands are also being upgraded to newer lifestyle requirements, marking a new era in residential property development. “Some of the trending upscale luxury features are gourmet outdoor kitchen, open space facing an infinity pool or sea or golf course, home theatre, a fullyequipped home gym having large glasses, spa bathrooms and a designer dressing room,” describes Ekta World’s Mohanani. It’s hard not to miss the obvious reference to life abroad in these luxury amenities – showing how international tourism and the global world that is the internet is influencing the residential sector indirectly.

Buyers also appreciate luxury homes that are well-fitted with the latest technology of international standard like automated curtains, LED units and centralised air-conditioning. “The interiors are equally important for the client, just as the exterior façade is. When it comes to the luxury segment, clients appreciate the interiors to have international design touches, quality flooring with the finest materials, a soothing colour palette and ample lighting fixtures,” explains Hiral Sheth, director, Marketing, Sheth Creators.

Another important factor that buyers will never miss out on is availability of ample of car parking space, excellent elevators and good security, she adds.

World-class security features are becoming USPs of upcoming premium residential projects. US-style concierge services and high-end access control that enable key-less entrance to the apartment are the new luxury parameters.

“Features like digital security, management at the entrance, surveillance, smart interiors, occupancy sensing apparatus, panic button, etc, are features which the client appreciates in a luxurious residence,” maintains Central Park’s Bakshi.

ARCHITECT and INTERIORS INDIA | OCTOBER 2016 | www.architectandinteriorsindia.com

Though luxury can be a state of mind, it is not a superficial component of design; it is reflected in the architecture as well as the interiors of spaces. Today’s end-users know what they want, and very often expect more than what the developers have to offer. “The trend in luxury has gradually shifted from creating a ‘wow’ factor to creating a comfort factor at par with the owner’s psyche. What stands despite all is that uniqueness is one of the key factors of luxury,” declares architect Kabul.

UPCOMING PROJECTS With well-known luxury addresses like South Mumbai running out of space, new projects are sprouting in neighbouring locations. Sheth Creators’ Beaumonte is located at Sion, a Central Mumbai location which is turning into an extension of SoBo. Spread across four towers of 45 storeys, it comprises 2/3/4 BHK spacious apartments, sky villas, landscaped decks and sky terraces with a view of the Arabian Sea, besides many exclusive lifestyle amenities and features. The structural and landscape architecture of the project is undertaken by P&T and Eco Plan Asia from Singapore, respectively.

The suburbs are not far behind in this luxury chase.

Take, for example, Runwal Elegante at Lokhandwala, Andheri, which is spread across an area of 3million sq-ft with amenities like spa, infinity pool and recreational area.

The project offers bespoke, fully air-conditioned homes ranging from 2.5 to 5BHKs, where customers will have the option of having their interiors designed by European designers. Features such as sensor lighting in lift lobbies, access control lobbies and home automation systems in the

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11. With Kalyan Lifestyle City at Thane near Mumbai, Nirmal Lifestyle is taking luxury to new locations.

12. Turtle Villas by Dhingra Projects is a resort-style residential development located in Goa.

living room and master bedroom add to its luxury status.

It also has seven levels of parking with valet service. The clubhouse includes gymnasium, spa, games room, crèche, café and tennis court.

Another suburb-based project, Transcon Triumph located at Andheri West (Mumbai), was awarded the Best Residential High Rise Development – India at the Asia Pacific 2015 Awards. The X-shaped structure, designed by ARK, promotes views and natural lighting and ventilation for the residences, which in itself is a luxury not many apartments within the metropolis have today. The 42-storey (135m) residential tower has exclusive two and three bedroom residences, penthouses, an entertainment deck and a sky deck.

The tower also incorporates global standard office spaces equipped with services required to conduct important

ARCHITECT and INTERIORS INDIA | OCTOBER 2016 | www.architectandinteriorsindia.com

meetings from the comfort of the home.

Taking luxury one step further, Central Park Resorts offers the unique proposition of live-in-a-resort where everything is at hand. Masterplanned by HOK International, the Gurgaon-based project has different residential options from apartments to sky villas, with recreation activities such as golf, badminton, cycling, skating, jogging, swimming, bowling alley, 18,000sq-ft of dedicated children’s play area and more. It also offers 5-star resort services like concierge, housekeeping, laundry, business centre, guest house for residents, pet hotel, ambulance and doctor 24x7.

Along similar lines, Turtle Villas,by Dhingra Projects Private Limited, promises all the facilities and luxuries of a world-class hotel, combined with personalised detail that makes a warm and welcoming home. This one-of-its-kind luxurious development in the heart of north Goa has tied up with firms from Singapore, Los Angeles as well as with Sussanne Khan’s Charcoal Project. The project offers studio apartments, 1-2BHK apartments and 3BHK villas – with fully-furnished and climate-controlled interior spaces.

On the other hand, US Open is India’s first sports lifestyle apartment complex that is carefully designed to offer maximum sports features in the project and also introduce prestige value through the US Open brand. The project is equipped with a podium garden fashioned on the lines of the famed Corona Park, world standard US Open tennis courts and spa. On the 46th floor of US Open is Fitness 46 – a three-storey dome that houses fitness equipment, gymnasium and a jogging track.

These projects are redefining comfort and giving potential buyers choices that best suit their interests and needs.

Only time will tell us how successful is the concept of luxury housing, especially at such a grand scale. However, the trend might still continue – searching for the next big thing and changing the way people live in the cities. A&I