Bangalore Luxury Housing

Goals

To gain understanding of affordable luxury in Bangalore to better inform future campaigns for upcoming luxury residences.

Early Findings

The majority of India's luxury market is centered in three cities: Mumbai, Delhi, and Bangalore. This is partially due to heavy regulations of the real estate market in India. The luxury market specific to Bangalore is shaped by multiple factors.

Types of Luxury in Bangalore

  • Bangalore is home to the first luxury mall in India, which opened in 2008.
  • Stores offering lifestyle luxuries, to include clothing, decor, and more, are popular in Bangalore. The store Cinnamon is one of the oldest lifestyle retailers in Bangalore, and it remains popular today by catering to these versatile luxury desires.
  • Citizens of Bangalore view quality environments as a luxury, such as clean air with minimal pollution exposure and safety to allow children to play without worry.
  • Security is a highly-sought luxury as well, which is why many luxury apartments offer guarded entrances, surveillance, and gated communities.

Housing Options

  • Several luxury housing properties are available in Electronic City, Bangalore.
  • Prices for luxury housing in Electronic City range from ₹2.95-10.09 K/sq.ft.
  • Luxury homes in Bangalore have appealing views, including large windows and balconies.
  • Luxury housing options often include maintenance plans and amenities, such as landscape development, pools, gyms, supermarkets, and play areas.
  • Gated communities are a desirable luxury, which allows children to play freely, safe keeping for vehicles, and additional perks.

Bangalore Population

  • Bangalore is considered India's Silicon Valley due to the high concentration of IT development and businesses.
  • Bangalore also leads India in high-end fields, such as pharmaceuticals, financial institutions, and biotechnology.
  • Entertainment is also prioritized in Bangalore, with the city hosting several entertainment events and concerts.
  • The population of Bangalore continues increasing, with a 3.74% increase from 2019 to 2020, bringing the population to 12,327,000.
  • The average monthly net income in Bangalore is 47,059.09₹, and the average monthly expenses for one person is 25,204.91₹, not including rent/housing payments.
  • Average rent expenses in Bangalore are 91.65% less than the average rent in New York, and the overall cost of living is 74.44% less than the cost of living in New York, US.

Proposed next steps:

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