NRIs investing in property has increased significantly due to the rupee’s plunge, creating demand for properties costing Rs 1 crore or below in Delhi.
Unity Group announced plans to develop a project at Karol Bagh that will feature 160 luxury apartments from Versace Homes brand, according to their director Harsh Vardhan Bansal. The 46-storey twin towers will include interior designs by Versace Homes for an interior design service contract agreement.
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Trends
Real estate investment is one of the primary options available to nonresident Indians (NRIs). Due to recent fluctuations in currency exchange rates, NRIs now have an ideal chance at turning their hard-earned savings into investments that provide ongoing income streams – this trend has increased demand for property in Delhi-NCR region and should continue through 2023.
Many developers in Delhi-NCR have expanded their landbanks in order to meet rising demand for affordable homes, while forthcoming infrastructure projects may further fuel this trend.
As technology has increasingly made its mark on the real estate sector, developers have taken advantage of it to improve efficiency and streamline processes. Furthermore, NRI investors now feel safer investing their capital in this sector due to increased trust levels within this space.
Developers are currently undertaking innovative projects such as multi-level car parking with retail and green buildings – these serve to reduce energy consumption while protecting the environment.
Unity Group and Italian fashion house Gianni Versace SpA, have collaborated to build Versace-branded apartments as part of their latest project in central Delhi. This development stands to become the tallest approved building with an elevation of more than 182 metres.
Locations
Unity The Amaryllis, located in central Delhi, is a luxurious residential complex offering two to four BHK+Servant luxury apartments. Surrounded by lush vegetation, it features easy connectivity to other parts of the city as well as well-established social infrastructure such as banks, schools, and parks in its vicinity.
Italian luxury fashion brand Versace and realty firm Unity Group jointly announced the project. Consisting of 46-storey twin towers with 160 apartments designed by Versace Homes for interior decoration purposes, the tower will stand 182 metres. It will become the tallest approved building in national capital Delhi.
Karol Bagh Luxury Project, is one of the city’s largest branded luxury developments, situated at the center of financial district Karol Bagh and offering world-class amenities. Due to be completed by 2020. Established by Gianni Versace in Milan Italy in 1978, this luxury goods company designs, manufactures and distributes apparel, footwear, accessories, jewelry watches eyewear fragrances. In addition it owns and operates multiple restaurants hotels globally as well as real estate development with numerous commercial and housing projects worldwide.
Infrastructure
With real estate demand on the rise, developers are finding it increasingly challenging to acquire land at reasonable rates. Access to institutional capital and partnerships with foreign companies are helping developers meet this challenge head on.
Due to the real estate boom, many developers are shifting away from luxury homes towards affordable ones. Utilizing innovative methods of providing quality housing at competitive prices such as building more compact apartments with amenities such as fitness centers, water bodies, and community spaces; creating more comfortable lifestyles for buyers.
Developers are also making strides towards green buildings and improving efficiency of their projects, which should help them realize maximum return on investment. Energy efficient appliances and lighting are being integrated, while recycled materials are increasingly utilized to minimize environmental footprint.
Furthermore, developers are joining forces with international brands to develop residential projects featuring their brands. Italy-based fashion house Gianni Versace partnered with Unity Group in Delhi to build the tallest building. This project will comprise 160 branded homes on a plot that was once home for workers at Delhi Cloth Mills; pricing information has yet to be made public.
Financing
NRIs living abroad now have an unparalleled opportunity to invest in real estate thanks to the falling rupee. Residential property provides higher returns compared to other asset classes, according to Anupam Rastogi of Square Yards’ CBO-NRI Sales division.
Work-from-Home” will also gain momentum following a lockdown as more people look for larger homes to work from, while walk-to-work culture could see revival as well. These factors will further spur demand for real estate in Delhi.
Naresh Aggarwal’s strong commerce graduate background gives him an exceptional business acumen and analytical abilities that have propelled him to the pinnacle of success in his career as the founder and director of Unity Group. He enjoys taking challenges head on while striving to deliver perfect work performance every time.
Unity Group and Italian fashion house Versace are joining forces on an unprecedented project in Delhi: 160 luxury apartments under their brand, situated in Karol Bagh area of central Delhi. This 46-storey twin tower structure will boast interior design by Versace Homes.
Real estate company Panipat Group is actively searching for properties to add to its land bank in Panipat, Sonipat and Bahadurgarh areas for potential residential developments and has already completed transactions involving over 700 acres in these locales.