Luxury real estate buyers in India increasingly prefer spacious, horizontal structures like villas and independent houses over highrise apartments. This shift stems from a desire for a superior lifestyle and the innate wish to own a plot of land. Villas, nestled within gated housing societies, have become highly sought after, driven by elevated aspirations and the need for more living space. They offer privacy and top-notch amenities focusing on wellness, leisure, and comfort.
Anarock, a real estate consultancy, reported that of the 328,400 units launched in the top seven cities during the first nine months of 2023, approximately 8,610 were villas, signaling a gradual increase from 2022. Surprisingly, villas are more popular in Tier-II and Tier-III cities than in the top metropolitan areas.
Southern cities within the top seven, especially Bengaluru and Hyderabad, witnessed substantial demand for villas due to the preference for land ownership. The surge in demand is attributed to factors such as increased income levels, lifestyle changes, and a growing affinity towards gated communities.
Developers like Hiranandani Group and Anant Raj have noted this trend, emphasizing the surge in demand for villas owing to factors like enhanced privacy, lifestyle changes, and an inclination towards spacious luxury. They're seen as prudent investments offering long-term stability and appreciation.
The trend is evident in multiple cities, with developers adapting to offer various villa options, making them more compact and affordable. However, experts stress the importance of creating city structures prioritizing eco-friendliness and green spaces for a healthier urban environment.
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