Sanjeev Kathuria, Founder, Author & CEO, Torbit Consulting

In the competitive luxury housing market, a new category of housing – hospitality-led branded and managed luxury living is emerging that leverages brand equity, service excellence and global standards to stand out. 

In 2003 when home loans had just started , there was a huge demand for housing projects with central garden, club house with swimming pool, security, power backup as common area service , vitrified tiles, modular kitchen & wardrobes inside the apartment . which  at that time, was  considered as luxury housing. A decade later the vitrified tiles were replaced by Italian / imported marble flooring, split air conditioning and 2 feet extra ceiling height , were considered as the hallmark of signature luxury housing.

So, then we had two nomenclatures-  premium housing and luxury housing-  the clear differentiation being flooring, air-conditioning and some extra sports facility in the club house.One more decade later,  we started to see the emergence  of branded residences with top developers tying up with world-class  luxury hospitality brands like  Taj ,Marriot, Four Seasons,  and Leela and global high-end fashion and lifestyle brands like Trump, Yoo, Elie Saab and Jacob & Co.This transition happened due to the rising awareness ,  growing urge and the soaring aspirations of the affluent class in India owing to the  massive economic growth in our country.

But then, is luxury all about flooring & ceiling and air conditioning?Luxury must bring convenience, wellness, services on order  and a feeling of exclusivity, accomplishment, and  being ahead in life.Women once dreamed of living in a home where the housekeeping, the kitchen-butler service, the concierge services were managed like a luxury 5-star hotel.Today, that dream has been realized with the concept of  hospitalty housing – apartments managed by the hotel, offering complete services. Like a Taj ,Marriot , Oberoi managing housekeeping, kitchen, concierge and common area services.This is the ultimate  luxury living which is slowly taking shape for the affluent Indians.The clientele for branded and hospitality-managed luxury living , is  top end strata of society which are  ready to pay for such high end services.

I see a huge vacuum in this space and hence a huge opportunity  which first movers can capitalise on . Especially  as with the evolvement of  urban lifestyles and deepening of affluence,  hospitality-led branded luxury housing will move from a niche to mainstream luxury segment,presenting a significant opportunity for developers and buyers.