Why Are Penthouses So Expensive?

My sister who is an NRI wanted to invest in real estate in India. Hence, we were looking for luxurious apartments in India. However, we discovered one penthouse, which was really beautiful and opulent. But, it was supremely expensive. It was during this time, I wondered, why are penthouses so expensive in India?

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Over the past few years, the demand for big apartments in high-rise structures has steadily increased, leading to a growth in the luxury section of the Indian real estate market. The Penthouse is one of the most highly prized types of residential properties in today's market, in addition to the typical 3 BHK and 4BHK opulent flats.

These kinds of homes tend to have premium prices that might be very high because they are exclusive and not frequently available. Depending on the city's real estate market, penthouses can cost anywhere from 15 crore rupees to 100 crore rupees in India. Because penthouses are so huge, they come with a number of issues, including high overhead expenses for the buyer. When a home contains both indoor and outdoor spaces, the additional effort of maintaining cleanliness and making sure the property is spotless can be pricey and raise the penthouse cost.

In metropolitan and smart cities in urban India, there is a substantial market for luxury residential units. With people's ability to earn more money, the demand for penthouses has only increased. The fantastic amenities provided in penthouse features are one of the main reasons why people are willing to pay more than they would have for a conventionally sized, multi-bedroom apartment. The desire for such residential buildings will undoubtedly rise in the coming years as more individuals in India become enamoured with the idea of living in an opulent home after viewing penthouse design photographs.

Naturally, upper-middle-class, wealthy businessmen, professional managers such as CEOs, entrepreneurs, lawyers, etc. are the ideal target market for property developers when it comes to marketing penthouses.

Today's definition of "penthouse" goes beyond the historically defined top-floor flat of a residential building. Real estate agents will now refer to an apartment as a penthouse even if it is not on the top floor if it has certain desirable qualities, such as a unique layout, plenty of outdoor space, high ceilings, and breathtaking views. A penthouse apartment may also include unexpected features like a larger size than the real top-floor flat and more opulent amenities that other units lack.

There is a good likelihood that an apartment near the top of the building will be referred to as a penthouse if it, for example, has more square footage than the top-floor unit, a unique layout, or opulent amenities not found in other units. Additionally, there are times when these flats are more desirable than a real penthouse.

I would like to conclude here as I believe this suffices your query, why are penthouses so expensive in India? I hope this helps:)

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