Go beyond promises of a lounge, fine dine restaurants, pet salons and sundecks. Beyond physical infrastructure, real estate developers are offering a host of services and experiences that truly redefine the experience of living in a luxury home.

 

Imagine a home in the middle of a deep blue ocean, anchored to the mainland by a bridge, and surrounded by lush foliage, beautiful views, with your living room opening up to the wide sea.

This paradisiacal world will soon be reality for some luxury home owners. Christie’s, an international fine arts auction house that also dabbles in luxury real estate, has begun work on the first of their floating residences. To be located in Maldives, the tailor-made Amillarah Private Islands will allow you to customise the shape and size of your secluded private island home retreat.

Maldives is just one destination in the roster of several glamorous destinations you can choose from – Miami, Maldives, Dubai, New York, and more. To be developed by Christie’s in association with Dutch Docklands, who are experts in floating developments, and Ocean Futures Society, which will ensure they are eco-friendly, these island residences have piqued interest of several affluent people across the world, including Indians, says Michael Sherman, vice president of corporate communications, Christie’s International Real Estate.

Tailor-made Amillarah Private Islands in Maldives

“Our first project is in Maldives will have 10 floating island residences, and each one will have a private pool and their own stretch of beach,” he adds. “A floating residence creates an opportunity for certain areas to see an even greater luxury residence surge, especially with an increase interest in purchasing real estate among affluent consumers.” Many Indians, says Sherman, have expressed in interest in these island residences. “Indians, increasingly, understand that luxury goes beyond physical infrastructure and encompasses experiences. At these villas, you will experience beauty in its pristine form: you will wake up to lovely views.”

Amillarah, Floating Island Residences

Knight Frank’s Wealth Report says that by 2016 the Asian region will have extended its lead, with 26,000 centa-millionaires, compared with 21,000 in North America and 15,000 in Western Europe. The number of super-rich across Africa and South and Central Asia will double by 2016, both up 100%, while Brazil is set to increase at twice the rate of the USA, up by 59% compared to 23%.

The Knightbridge Apartments

Much of their cash continues to be investment in luxury residential property which remains a safe, stable alterative to other investment classes. London-based property firm Yoo, run by millionaire entrepreneur John Hitchcox, is working on luxury real estate projects in more than 24 countries around the world, from Mumbai and Moscow to Panama, Berlin as well as the Cotswolds, in the English countryside.

London’s The Knightsbridge Apartments, which are being aggressively marketed in India sits in the capital’s heart: a fully-managed enclave of private residential apartments and mews houses, set around a contemporary landscaped residents’ garden. Five-bedroom family-oriented dwellings blend seamlessly with one to four bedroom properties, whilst a number of Executive Studios offer the perfect pied-à-terre. Several residences enjoy double-height living spaces with mezzanine and duplex levels.

The Knightsbridge Apartments

Floor-to-ceiling windows and paved private balconies afford extensive views taking in iconic London scenes such as Hyde Park and Knightsbridge itself. Many properties enjoy an aspect out onto the residents’ garden below. To the East and West of the development, overlooking landscaped courtyards and water features, The Knightsbridge includes mews houses. Each two-storey dwelling affords spacious, modern accommodation with the attraction of a private front door within the courtyard.

Experience, then, is the new frontier of luxury. It is alluded to in the new report by real estate consultant Cushman & Wakefield. Sanjay Dutt, Managing Director, Cushman & Wakefield South Asia, says, “Traditionally, buyers have enjoyed the pin code address of the location, so if you’re in the right location, that’s luxury to begin with. But increasingly, the younger population wants superior lifestyle and experience to complement the location and development.”

Experts agree that elements flawless design and construction, high-quality building materials and finishes, and amenities such as a pool and gym are really a given in any luxury development. “Buyers should be more focused on other concerns,” says Adarsh Jatia, Managing Director, Provenance Land, which has tied up with the Four Seasons brand for the hotel and the residences. “How will the developer ensure the experience of the resident is one of true luxury throughout the life of the development? How will the developer ensure consistency of service level in the long run? What steps are being taken with regard to upkeep and maintenance to ensure the development will stand the test of time? What about privacy and exclusivity? How many residences make for an exclusive development? What will demand for these homes be like in the future?”

Ahuja Towers (Impression), Mumbai

At Ahuja Towers, the twin skyscraper luxury development in Mumbai’s Worli neighbourhood, seven exclusive residences will be designed by New York design studio, Wilson Associates. That’s not all: the seven families who buy into Seven Heaven’s limited edition residences will be flown down to New York for a meeting with the designers. Gautam Ahuja, Managing Director, Ahuja Constructions says that experiences, like meeting the designer, chef-on-demand and the concierge service that will be part of the luxury package, will ensure they stay at the top of the game in a highly competitive luxury real estate market like Mumbai.

Experts believe that location can also be leveraged to offer an exquisite experience. At Tata Housing’s Prive project in Lonavla is built on a steep slope. “Privé takes advantage of its amphitheatric position to enhance a strong indoor/outdoor relationship and frame beautifully the wide views of North Point and the Khandala Valley,” says Brotin Banerjee, MD and CEO, Tata Housing Development Company. “SCDA, Singapore, who have designed the villas, have used open and contemporary architecture as a concept; it allows indoor and outdoor spaces to segue, offering fluid open spaces that translate to a very real feeling of freedom.”

Tata Prive

Yet, not many consumers are convinced that luxury real estate development in Mumbai has matured to the global level. Forty two year old Harsh Patel, an investment banker who is scouting for a luxury property in Mumbai, says that unlike New York or London, real estate in Mumbai hasn’t still reached a stage where experiencing luxury forms the core of the project. “So, you have some restaurants and cafes, even a rooftop terrace maybe, but there is more to luxury than that. I worked in Manhattan for six years, and the complex I lived in had tied up with a luxury hotel. So, we had chefs from the hotel catering to our parties; for a price, you could get the housekeeping staff from their hotel to clean up the apartment.”

This is a gap that Four Seasons Residences, Mumbai’s first hospitality branded residences in Worli, is trying to bridge. “Residents will enjoy a menu of exclusive residential and à-la-carte services, each one delivered by a highly trained team of hospitality graduates. The services included are on-demand limo service, in-residence dining and event catering, laundry and valet services, grocery stocking, Business Centre assistance and residence maintenance and repair services. From butler service and housekeeping to personal trainers and dog groomers/walker, the Four Seasons Private Residences team will be on call to help fulfill every imaginable desire. In today’s hectic world, successful people lack only one thing: time. Every need will be taken care of by Four Seasons, without residents even knowing its happening. Dare I say, people will be spoilt at home. It will redefine their perception of everyday luxury.”

Globally well-travelled and savvy consumers are forcing developers to think out of the box to deliver luxury solutions that offer them an opportunity to make life a lot simpler, and much more interesting.