The consistent ups and downs following the pandemic and the accelerated digitisation have resulted in an increase in the number of unicorn startups. HNIs have also played an important role in turning the tide for India’s luxury property market.
The pandemic has caused a “psychological shift” in human purchasing behaviour. Realtors believe that consumers have realised the value of excellent and healthy living and that they will eventually advance to the next level of ‘living comfort.’ According to ISIR, the significant increase in high-end property interest is due to an increase in India’s HNIs (high net-worth individuals). Not only are HINs leading the way in luxury property investment, but the UHNI (ultra-high-net-worth individuals) category is also driving the luxury property segment. The pandemic has also accelerated digitisation, forcing the startup ecosystem to produce unicorn startups.
ISIR classifies any single property transaction in India’s top seven locations as a luxury property if it exceeds Rs 10 crore. A luxury property provides a variety of offers and inclusive spaces such as a home, office, study, rooms, gym, entertainment, green open spaces, and many more. Because the Indian real estate market is not yet mature enough to deal with the crypto ecosystem, it is expected that crypto investors will convert their gains to property. To convert digital assets into real estate properties, more explicit rules and guidelines are required.
According to a luxury outlook survey, 67% of HNIs want to buy a luxury property in 2022, and 46% want to buy a property that is more expensive than their current luxury property. The reason for the upgrade is a change in lifestyle. In addition, people are making large profits in the capital market, which allows them to convert their profits into real estate.
People also prefer twin properties to accommodate large families where parents and children want to live next to each other or other family members purchasing flats next to each other or large families upgrading their lifestyle and purchasing two properties for proximity.
For more than three years after the pandemic, the segment has been under pressure. Luxury property in India is experiencing growth as a result of how life and work styles have changed over the last two years. This segment is secure right now and for the next two quarters. The piece is also unlikely to be unaffected by changes in loan rates, among other things.
We at Migsun have considered the actual requirement of the buyer and get them down in Migsun Jorbagh. Consider living in a low-rise development that gives you the feel of a posh neighbourhood in Delhi. Migsun Jorbagh is a 103-acre gated township in Sector 27, Greater Noida, adjacent to the Golf Course. The project is next to Godrej Golflink villas, 0 km from Alpha 2 metro station, 500 metres from JP International Golf Course, 1.5 kilometres from Venice Mall, and 2 kilometres from Yatharth super speciality hospital.
Migsun Jorbagh enables you to construct your dream home in the midst of modern comfort and 24X7 security. The mixed-use development is intended to support an international lifestyle. Migsun Jorbagh is an opportunity not to be missed for the gentry who values privacy and appreciates the luxury of villas.
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