Luxury projects are thriving in the Mohali real estate market. Luxurious residential properties in Mohali have experienced substantial growth in recent quarters. Whatever you are looking for in luxury properties, you will find out here without any hassle. Experts of Noble Callista predict that Mohali's demand for luxury apartments will increase in the future. The reason behind increasing the demand for luxurious flats in Mohali is because this city is growing day by day, and people are finding more opportunities compared to other places. Luxury apartments are the best for quality, comfort, convenience, and quality. Here's a list of features made by Noble Callista's professionals, distinguishing luxury apartments from regular flats.
Price
Apartments in luxury apartments are available in Mohali at reasonable prices. Prices will vary depending on the amenities and where they are located. You can expect a rental rate up to 40% higher for luxury apartments in Mohali than regular apartments. However, the annual appreciation of a luxury apartment in Mohali is somewhere between 4% and 7%. Along with this, if you are going to purchase a luxurious apartment in Mohali, you will find out that you have to pay up to crores to have your dream flat.
On the other hand, when it comes to regular tulum apartments for sale, you only have to pay the amount in lakhs per their locations and availability. Due to their lower prices, regular apartments are still in high demand. Standard flats can be purchased between a couple of lakhs, depending on their location and amenities.
As an investment
An investment opportunity is to buy a luxury apartment in a prestigious neighborhood. The rental value of a luxury apartment is approximately 40% higher than a regular apartment. Regular apartments offer investors a better choice for steady rental income. They are more sought-after by the floating population, who prefer smaller spaces and are therefore more affordable.
Luxury apartments are more susceptible to price volatility.
Localization
Luxury apartments in Mohali are located in high-end neighborhoods to attract a higher-end clientele. Newer areas and emerging suburbs will be home to regular apartments.
Space
An apartment for luxury living in Mohali can span more than 1800 square feet. A luxury apartment in Mohali can span more than 1800 sq. ft. and features a 3-4 BHK space, large kitchens, attached balconies, and maid quarters. On the other hand, regular apartments typically range from 700 to 1200 square feet. These units are usually smaller and have everything under one roof.
Floor-to-ceiling height
This is a highlight of luxury apartments. In a luxury apartment, the ideal floor-to-ceiling height is 12 feet. If the condo is lower than this, it loses its luxury label. There is no standard for regular apartments. The minimum floor-to-ceiling height is 10 feet.
Comfort and Amenities
Luxury apartments are distinguished by the comfort and amenities they offer. Luxurious apartments offer many amenities to ensure the comfort of their residents. Luxury apartments in Mohali have many amenities, including private rooftop pools and Juliet balconies. Luxury apartments are distinguished by their use of high-quality construction materials and fittings.
Apartments in regular developments offer all its residents basic amenities like power backup, swimming pools, and a functional gym.
Highly Secure Living space
Luxurious apartments offer higher security features, including intercoms, emergency buzzers, and top-of-the-line security installations to ensure a stress-free lifestyle. Many luxury apartments have solar generators, medical emergency rooms, safe rooms, and natural disaster bunkers.
These safety features are not available in regular apartments. Instead, they offer collective installations. These safety features include power backup and secure access with guards at all entry points because security is a significant concern for apartment complexes. They have limited budgets and rely heavily on outside agencies.
Both regular and luxury apartments have their place, but it is not easy to choose one. There is a rising demand for standard apartments and luxury flats in Mohali. However, in the end, the decision to buy a luxury or regular apartment will be based on economics and emotions. Whether you are willing to rent or purchase a luxurious apartment, it should be worth it. So ensure that you will meet the right properties while investing in expensive property. If you are willing to purchase a luxurious property in Mohali, feel free to contact us at Noble Callista.
