Why are Penthouses so popular in India?
Penthouse ownership has become an obvious alternative for Indians seeking luxury real estate as their income levels rise.
Even though the term is now widely used in Indian real estate, there is still some misconception about what a penthouse is. This page is intended to serve as a guide to explain penthouse meaning, features, pricing, and availability in India.
A costly and pleasant unit or suite of rooms at the top of a tall structure’ is what a penthouse is. A penthouse is “a structure or habitation on the roof or top level of a building.”
The notion originally gained traction in major global business centers, where privacy and space were becoming increasingly difficult to come by as the population grew. Developers responded to the demand by erecting penthouses on the top floors of apartment buildings and charging a premium for them. Developers began altering the building structure to allow new penthouses, which could be constructed anywhere in the tower, as demand patterns changed. A structure with numerous penthouses, like a wedding cake, might have several levels.
What are the benefits of owning a Penthouse?
Specificity
In India, owning a penthouse would be regarded as a source of pride among your peers. A penthouse owner frequently has access to several amenities that are not available to other residents of the same building.
An unobstructed view
Penthouses usually have a lot of natural light and ventilation, as well as an unimpeded view of the city. In a major city, they are goods that not everyone can afford. Because of their location, these flats provide greater peace.
Depression-free investment
Unlike in Western nations, where penthouses are plentiful, developers in India have been cautious when constructing penthouse buildings. Penthouse values are continuing to rise due to a lack of supply. There’s no need to be concerned about value depreciation as long as supply is less than overall demand.
Penthouse prices in India
The cost of a penthouse in India varies depending on the city. The cost of a penthouse in Mumbai can range from Rs 20 crores to Rs 100 crores, depending on the location. In the national capital region (NCR), Gurugram is another place where purchasers may locate premium penthouses. The price of a penthouse in this market might reach several crores. In Pune and Bengaluru, where penthouses are quite popular, a similar tendency may be noted. Penthouses in Noida and Greater Noida Extension, on the other hand, cost between Rs 6 and 12 crores.
Investors in penthouses should keep in mind that each unit – the best among equals – is distinctive in its own right and that comparing the price per square foot of one apartment to another may not be fair.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
