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Penthouses are catching up big time in India

A penthouse apartment is nothing but an apartment that comes with a private terrace of its own. It is generally built on the topmost floors of high-rise buildings. Since multi-storey apartments are the ‘in thing’ these days, the concept of penthouses has caught on too! Who would not want a personal open-to-the-sky terrace of their own? It translates into extra space, party areas, a play area for children, ideal location for gardening and a lot more! Penthouses generally have additional facilities like central air-conditioning, 24-hour security, etc. Swimming pools and clubhouses are also a part of several projects to enhance the luxury experience of living in the community! A penthouse experience is very heart filling, especially for NRIs, who can now look forward to a lifestyle they are used to in the West!
The concept of penthouses is catching up big time in India – they are the epitome of luxury for India’s upper middle class society! The trend is simple to follow – if you can afford something more than a traditional apartment but less than a bungalow of your own, a penthouse is the ideal solution for your housing needs.
How much do they cost?
A penthouse is meant for lavish lifestyles and thus they cost much more than an ordinary apartment. Also, one building structure cannot generally have more than two penthouses. Hence, they are available in smaller numbers than other apartments. The cost of a penthouse would also depend upon the city, the neighborhood within the city, square foot area of the apartment, etc. It would be easier to keep in mind that a penthouse would cost more than an ordinary apartment in the same building.
Penthouses are in demand in metropolitan cities such as Delhi, Chennai, Bangalore and Pune. To give you a fair idea of the prices, the Mahagun Maestro penthouse scheme in Noida is priced at approximately 0.4 million dollars for a 2,525 square foot super area with a 950 square foot terrace. Penthouse properties in Pune are also selling well. Towards the outskirts of the city in Mohamedwadi, the rate is around $40 per square foot. Naturally, in the heart of the city, the prices will be higher. In cities like Delhi and Mumbai, a penthouse property would generally be priced at several crores.

Do you like the concept of a penthouse? Would you like to live in one? What are the advantages of living in a penthouse as compared to an ordinary apartment?

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About

Tushar’s main goal is to spot good news-worthy info and get it out to the public as soon as possible. He has been writing about Personal Finance and Investing in India for the last 3 years. You can reach him at: tushar@allindiatoday.com


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