In India, why are penthouse so popular?

As Indians’ income levels improve, penthouse ownership has become an obvious option for those seeking luxury real estate.

penthouse in India

Despite the fact that the term “penthouse” is now extensively used in Indian real estate, there is still some misunderstanding regarding what it means. This website is meant to describe the meaning, features, pricing, and availability of penthouses in India.

 


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A penthouse is a pricey and luxurious flat or suite of rooms located at the top of a tall structure. A penthouse is a structure or dwelling on a building’s roof or top level.

The concept first caught on in large global business hubs, where privacy and space were becoming increasingly scarce as the population swelled. Penthouses on the top floors of apartment buildings were built in response to the demand, and developers charged a premium for them.

As demand patterns shifted, developers began changing the building structure to allow new penthouses to be built anywhere in the tower. Like a wedding cake, a structure with multiple penthouses may have multiple layers.

 

What are the advantages of owning a penthouse apartment?

Specificity

Owning a penthouse in India is considered a source of pride among your peers. Several perks are frequently available to penthouse owners that are not available to other tenants of the same building.

penthouse's in India

A view that is not hindered

Penthouses typically provide plenty of natural light, ventilation, and an unobstructed view of the city. They are products that not everyone can afford in a huge metropolis. These flats offer more peace and quiet due to their location.

 

An investment that isn’t depressed

Unlike in Western countries, where penthouses are ubiquitous, Indian developers have been cautious in their penthouse construction. Due to a scarcity of penthouses, prices are continue to rise. As long as supply is less than overall demand, there is no need to be concerned about value depreciation.

 

India’s penthouse pricing

In India, the cost of a penthouse varies depending on the city. A penthouse in Mumbai can cost anywhere between Rs 20 crores and Rs 100 crores, depending on the location. In this market, a penthouse may be worth several crores. A similar trend can be seen in Mumbai and Bengaluru, where penthouses are very popular. On the other hand, penthouses in Navi Mumbai and Greater Noida Extension cost between Rs 6 and 12 crores.

Investors in penthouses should keep in mind that each unit – the best of the best – is unique in its own right, and that comparing the price per square foot of one apartment to another may not be a fair comparison.

 


 

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Disclaimer: The views of this expressed above are for informational purposes only based on the industry reports & related news stories. Navimumbaihouses.com does not guarantee the accuracy of this article, completeness, or reliability of the information & shall not be held responsible for any action taken based on the published information.
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