Coming Soon
3 & 4 Bhk Residential Apartment
Investment from ₹ On Request*
The past four quarters have seen good growth in luxury home sales since Q3 two years ago, and the pandemic hasn't stopped the parties yet. Restrictions on movement can lead to postponing purchasing decisions. However, we do not see this as a major impediment as pent-up demand for homes remains strong and will grow if there is a slight delay in taking advantage of the positive buying environment. This is why Puravankara Group has launched Purva Meraki at HSR Layout in Bangalore.
Over the years, the luxury residential market in India has undergone a significant transformation. Rising disposable income, integration of amenities, such as swimming pool, playground, clubhouse, gymnasium, healthcare center, evolving home buyer aspirations, growing demand for larger homes, and supermarkets for a wholesome lifestyle underscores the demand for luxury homes at Purva Meraki. With the onset of the pandemic and its aftermath, it has become more pronounced at the back of the pandemic with work online becoming the norm and limited movement. According to a report, a real estate data analytics company, luxury housing sales in seven major markets of India saw an increase of 10% in February with over 7000 units as compared to 5000 units during the previous year.
Similarly, the report reported an increase of 15% in the launch of luxury homes like Purva Meraki in the first quarter of last year, with approximately 6000 units in the top markets. With demand for luxury homes on the rise, let's take a look at the trends affecting this segment. One of the visible trends is the demand for larger houses. With the pandemic in its midst, working online has forever become the new norm. Therefore, it is necessary for people to create a separate space for homework. Additionally, as most of us spend more time at home during the pandemic, a focus on the overall quality of life with an emphasis on health and comfort is also evident. Designated space at Purva Meraki for a workout or larger balconies and separate areas to unwind are some of the demands.
This aspiration of improved quality of life is driving many middle-class families to move to bigger homes like Purva Meraki. According to another report, approximately 25000 2 and 3 BHK units were sold in the first quarter of last year. It also suggested a similar trend. It highlighted that a total of 3253 homes were sold in Bangalore last year at 35%, making it the maximum number of units sold. It was followed by the South in Chennai, which saw an increase of 34% last year with 3,254 units.
While consumers investing in luxury homes is nothing new, the pandemic has certainly made it even bigger. Travel restrictions have encouraged people to buy houses like Purva Meraki in beautiful locations, especially in hill stations, to convert them into holiday homes or even work in such houses. This is unlike the first, where the goal is to make their rental houses.
Unit Type |
Area (in Sq. Ft.) |
Price (in ₹) |
3 Bhk |
On Request |
|
4 Bhk |
On Request |