News18: Buying Luxury Property for Investment? A Complete Guide for Homebuyers - MAIA Estates

Legal Disclaimer

The material contained in this website is provided for informational purposes only, and should not be construed as a prospectus or notice which is binding. By using or accessing this website, you hereby agree to be bound by the terms of this Disclaimer. MAIA Estates LLP (“MAIA LLP”) reserves all the right to add, alter or delete any material from the website at any time without notifying you. Nothing contained on this website constitutes a contract, booking, selling or an offer for sale or invitation to purchase a unit in any project of MAIA LLP and shall not be considered a legal offering under any law for the time being in force, under any circumstances. The contents herein comprises of general information and may not reflect current legal developments, verdicts or settlements. The contents on this website may not be definitive and can be modified in terms of the stipulations / recommendations under the Real Estate (Regulation and Development) Act 2016, and rules made thereunder (“RERA”). MAIA LLP is currently in the process of complying with RERA.

All plans, images, videos, soft furnishing/furniture, gadgets, equipment, product, building colours and technology displayed are representational only and do not form part of any agreement and are not legally binding on us. Photographs of interiors, views and the location are indicative only and may have been digitally enhanced or altered and do not represent actual views or surrounding views. The Developer reserves the right to change, delete or add any specification, amenity or plan mentioned herein based on site conditions and construction necessities without prior permission or notice. MAIA LLP makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, services, or related graphics contained on this website for any purpose.

Any action you take upon the information on this website is strictly at your own risk and neither MAIA LLP or any of its affiliates will be liable for any losses and damages occurred to you in any manner in connection with the use of this website or contents herein. In no event shall MAIA LLP be liable for any loss or damage including without limitation, indirect or consequential loss or damage arising from the use of this website. You are thus required to verify all the details of the project, with the sales team of MAIA LLP prior to buying any unit(s) in the project. You agree with this disclaimer without any qualification or limitation.

UNDERSTOOD

News18: Buying luxury property for investment? A complete guide for homebuyers

get_the_title()

Investing in luxury real estate can provide various advantages, such as a substantial return on investment and the opportunity to experience the lifestyle associated with affluent living. Owning high-end real estate is often considered a symbol of prestige and can offer access to exclusive communities and networks.
However, this pursuit also comes with risks that can be mitigated through a thorough evaluation of essential factors before making a purchase. As a discerning buyer, it is vital to consider the following critical factors that have a significant impact on your financial decision.

Prime Location

As connectivity improves and social infrastructure grows, an area becomes more accessible, convenient, and desirable, resulting in an uptick in demand for housing. For those seeking to invest in upcoming localities, it is advisable to have a development time horizon of three to five years, as this allows for ample time for market conditions to shift and new opportunities to emerge. Timing is key and investing well before the development completes and prices increase, can yield considerable returns.

The Developer’s Brand Equity

In tandem with location, the credibility of the developer is a salient factor to consider when investing in luxury properties. Investors are strongly advised to conduct due diligence, and thoroughly research the developer’s background, partners and reputation in the market, as well as their track record of delivering high-quality projects within committed timeframes.

Authenticating True Luxury

To truly determine whether a property meets the standards of luxury, it is important for buyers to scrutinise various features such as premium finishes, contemporary design elements, cutting-edge technology, state-of-the-art amenities, and adaptability to future needs. This is essential because the term “luxury” is often overused in the real estate industry and may not always reflect the true value of the property.

Features and Amenities

The importance of inclusivity cannot be overstated, as it influences the design of amenities that improve the lives of all residents and their families. To this end, luxury developments incorporate future-forward technology that grants access to the latest features and facilities.
A diverse array of offerings, such as rooftop infinity pools, spas, gyms, multipurpose courts, and expansive lawns, demonstrate the developer’s unwavering commitment to building homes that symbolise luxury while prioritizing the overall well-being of everyone who calls it their home.

Premium Quality Materials and Top-Line Specifications

Developers understand the discerning tastes of HNIs and UHNIs and hence strive to create properties that reflect their preferences. This involves using only prestigious brands and adhering to the highest standards of quality for each residence. Rather than focusing solely on aesthetics, developers prioritize substance by carefully selecting materials that convey a sense of exclusivity, excellence, and longevity.

Vaastu Compliance

Vaastu is an ancient Indian architectural science that emphasises on creating harmony between individuals and their environment through its design and construction principles. In addition to contemporary philosophies of architecture, many end-users and investors value the Vaastu compliance of properties, to ensure complete synergy in their potential homes, and before making a purchase.

Safety, Security, and Privacy

Residents and their families highly prioritize privacy, making it a key consideration. In order to cater to the demands of discerning buyers, luxury apartments need to incorporate vital security elements. These measures should encompass safeguarding the main entrance, access points at the lobby level, and the apartment itself, ensuring that residents can experience a safe and secluded haven

Legal Compliance

It is crucial to ensure that the property is in compliance with all necessary regulations and has obtained the requisite approvals. Inquire about the building’s permits, land titles, zoning, and environmental regulations before purchasing the property, as a failure to comply with these regulations may result in severe consequences, such as demolition and/or legal action.

Maintenance and Management Services

Luxury properties often require specialised maintenance and management services, and buyers should consider the availability of facilities management before purchasing a property. Services such as cleaning, landscaping, and repairs can be expensive and time-consuming, therefore it is essential to confirm whether the property has a reliable and efficient management company.

To summarise, while investing in luxury properties can yield high returns, it is pertinent to conduct extensive research and consider essential factors before committing to a purchase. By carefully evaluating the factors mentioned above, buyers can reap the benefits of a sound financial decision.

Read more

Skills

Posted on

May 25, 2023