With the rising income level in India, a huge surge can be seen in the ownership of penthouse. It has now become an obvious choice for Indians who want to invest in luxury real estate. Keeping the extraordinary comfort that comes along with a penthouse , urban buyers associate it with status symbol; owning them tells everyone that they have officially arrived.
Now, what exactly is a penthouse?
By definition, a penthouse is ‘an expensive and comfortable flat or set of rooms at the top of a tall building’.
Back when the concept became popular, real estate developers and house architects in India followed the original definition. However, after a few years, the term was also used to define an exclusive flat because real estate developers realised the possibility of curating higher profits with the same concept.
The concept started to gain immense popularity in business districts, where privacy and space became hard to find amid the rising population. Keeping the demand in mind, several top architects in Delhi along with other metropolitan cities started constructing penthouses on the top floor of apartment buildings and charged a premium for such units.
With the increasing demand, developers came up with changes in the structure to accommodate more penthouses which could be built anywhere in the building. In the present times, several developers now use this term penthouse more freely to define exclusive units which generally have opulent features when compared to other facilities.
Facilities that come with penthouse
Many top architects in Bangalore and other cities, tried to inculcate open terrace which is exclusive for the owner. They also have an indoor fitting, and unlike a regular apartment, the ceiling is also much higher in a penthouse. Not just that, but they also have a different layout and luxury amenities which includes gymnasiums, swimming pools and sometimes even private elevators.
The price range in India
According to top architects in Mumbai, penthouses there range anywhere between Rs 20 crores and go up to Rs 100 crores. Gurgaon is not that far in the race, rates of penthouses there could also go up to crores. The list doesn’t stop here, one can see a similar trend in Bangalore and Pune.
Is there a demand for penthouses in India?
The demand for large penthouses has increased, especially after the pandemic. Penthouses in India are likely to garner speed in places that are expected to see infrastructure developments.