Who doesn’t aspire to live a life of opulence? Wouldn’t it be satisfying to indulge in a daily dose of luxury in one’s own living space? From striking aesthetics, top-of-the-line amenities, security features, customised interiors and distinctive architecture to value proposition, luxury housing projects promise the finest and grand abodes.
But how luxurious is a luxury housing project in the City of Destiny? Do the luxury projects in Vizag meet the definition of luxury living in terms of top-end amenities? Or does the term luxury here end up merely describing the price tag? To get you all those details, TNIE interacted with a few experts. So, what are the existing exclusive projects in and around Vizag and what can an end-user expect from these projects? The ‘Realty Check’ got you covered.
Taking a cue from the constant urge of millennials, upper-crust home-buyers, NRIs and HNIs for upgrading their living standards, a significant number of developers are now focusing on the premium market, which led to a spurt in exclusive luxury projects in Visakhapatnam. Opulent lifestyle, future appreciation, and a sense of security stand as an utmost priority to almost all premium home-buyers. With hybrid working becoming a new norm, people are gravitating towards condominiums with added space and spice, like fun activities, functionality, and an ultra-modern touch. The solitude that comes with these living spaces is also an added advantage.
Most of the existing luxury housing projects in Visakhapatnam are meeting the requirements of premium buyers and are offering resort-like opulent living experiences with activity-driven areas like home offices, workout spaces, clubhouses, a wide range of indoor games, coffee bars, interactive arenas, parks and more, CREDAI AP General Secretary Subhash Chandra Bose said, adding that luxury housing market always has positivity surrounding it even among new prospective buyers as it remains an evergreen investment opportunity to reap the benefits in the long run.
A few upcoming luxury housing projects in Vizag are even set to redefine the outlook of luxury housing in the city, with many developers fusing world-class amenities with aesthetically pleasing designs to allure the dwellers. These facilities are all well-curated within posh landscapes, Bose said. Most of the exclusive luxury projects are dotted in the city’s prominent locales like Yendada, Kapuluppada, and Mithilapuri colony.
MK Builders and Developers’ MK one towers in Yendada, and an exclusive luxury housing project ‘Villaasam’ in Kapuluppada area, among several other luxury projects by major developers in the segment, a few of which are currently in progress, are offering grandeur abodes with 100 plus top-end amenities.
When it comes to prices, the base prices to own a villa in Villaasam ranges between `3 crore to `6 crore depending on the square yards one requires and different comforts a particular villa boasts. If it is a 483 square yards villa, one has to pay around `4 crore, including registration, said Ravindra, representative of the project. Villaasam comes with amenities like a clubhouse, villa-specific swimming pools and more.
And, the MK Builders and Developers’ MK one luxury housing project, which is currently being built, houses some immersive amenities like a chit-chat conclave, temple, pet park, koi pond, complimentary coffee bar, library, playschool for kids, and foot court among several other enticing comforts, realtors shared.
“An apartment in MK one and other neighbouring projects are priced at around `6,000 per sqft. The base prices are fixed at around `2.5 crore,” CREDAI general secretary Bose said.Amalgamating the benefits of solitude, luxury and functionality at a landscape, the luxury housing market in the City of Destiny is affluent with mushrooming options, ticking off most of the key features of luxury housing from the benchmark checklist, and is wooing the homebuyers who are scouting to zero in on an opulent abode.