Premium listings make luxury home buying a cinch

While new developments continue to take shape around the periphery of metros,high prices in relatively prime locations make buying a home a mind-numbing,pocket-burning affair. However,there is also a select section for whom matters such as price and,possibly,even practicality are outweighed by the opportunity to flaunt their affluence. Catering to this rich set,global online auction platform Saffronart and real estate service firm Cushman and Weikfield have come out with their second ‘Prime Properties’ catalogue.

From holiday homes in Goa and Himachal Pradesh,to spacious apartments and bungalows in Delhi,Mumbai and Chennai,the catalogue is a choice selection of properties that would be any neighbours’ envy. While the first edition of the uber-luxury catalogue had seven properties listed,the Fall 2010 catalogue lists nine. Speaking to The Indian Express,Saffronart chief operating officer Nish Bhutani said,“Of the seven that were in our earlier catalogue,sales of four have been closed.” Saffronart,however,was not in a position to disclose which of the listed properties were sold. Sources said that sales of three properties,one in Mumbai and two in Delhi NCR,from the earlier listings are still being negotiated. The properties sold include apartments in Mumbai and Bangalore,besides an estate in Alibaugh and villas in Rishikesh.

While the price of the 6,030 sq ft duplex apartment in Belvedere Court on Spencer Road,Bangalore was Rs 4 crore,the 4-bedroom sea-facing apartment in the landmark Maker Towers on Cuffe Parade,Mumbai,had an asking price of Rs 25 crore. Apart from these luxury city apartments,two holiday destinations also found buyers. A holiday estate with two bungalows spread over a combined 10,000 sq ft in Nandaipada in Alibaug with an asking price of Rs 17 crore has ostensibly been sold. Sources also said that all 27 properties listed under Riverside Villas project located near Rishikesh found takers. It is inferred that the actual selling price could have been higher than the asking price.

Properties listed in the current catalogue include more reasonably priced (Rs 2.25-Rs 5 crore) holiday homes,including a designer villa,in Goa. Also listed is a 2,200 sq yd property in Chanakyapuri, Delhi. Obviously exclusive and hence not for the light-walletted,price for this property only comes when requested for.