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July 18, 2024
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Beyond Investment: Unveiling the Lifestyle and Experiential Appeal of Luxury Second Homes

Terra Grande by Eldeco

Amar Kapoor, CEO Terra Grande by Eldeco

Second homes, or vacation homes, have become an emerging trend among people who want to take a quick break from the bustling daily city life. With people showing an appetite for wellness and rejuvenation, the second home is no longer a trophy asset for the jet-setting millionaires, rather it has become part and parcel of mainstream life. India’s robust economic growth, rapid urbanization, and increasing disposable income have spiraled up the demand for luxury holiday homes in the country. The holiday home market, as per Industry experts, may grow at a compound annual growth rate (CAGR) of 23.63 percent, reaching USD 4.021 billion by 2026.  The noticeable inclination towards the investments in second-home properties wears a positive outlook in the face of strong supply lines and surge in demand.

The real estate sector in India has undergone transformation with significant growth. It has become a lucrative avenue for High-Net-Worth Individuals (HNIs) and Ultra Net Worth Individuals (UHNIs), who want to diversify their investment portfolios, apart from lifestyle aspirations, as its dynamic market presents lots of opportunities with encouraging returns. A recent Knight Frank report highlights that India’s ultra-rich are increasingly investing in residential assets, with a substantial 32 percent of their investment portfolios directed towards this sector. Additionally, approximately 12 percent of India’s ultra-high-net-worth individuals are planning to purchase a new home in 2024. This indicates a strong and growing appetite for residential real estate investments among the country’s elite.

It is a perceptible cliche that home is where the hill is. In North India, hill stations are deemed a strong choice for residents preferring a holiday home owing to cooler climate and their convenient connectivity. People make a beeline for popular second-home destinations identified as Rishikesh, Haridwar, Dehradun, Mussoorie, Kasauli and Shimla among others. They offer a perfect blend of accessibility from major cities, tranquility, and pleasant climate. Also, continuous infrastructure developments have multiplied their appeal as coveted locations for luxury second homes. Transport corridors like National Highways have always boosted realty development across India. The economic corridor between Delhi and Dehradun has cut six-hour travelling between the national capital and Haridwar to mere two-hour journeys.

The government’s plans for improved road connectivity, urban development, and IT parks have significantly boosted the real estate market momentum in Tehri’s neighboring areas. These infrastructural enhancements pave the way for a brighter future in the real estate market, offering promising opportunities and driving positive growth. The realtors are upbeat as the real estate sector along the stretch benefitted from the development. High-end developers are keen on creating sustainable and eco-friendly real estate constructions to attract young investors and UHNIs.

As the demand for luxury second homes continues to rise, properties like Terra Grande Rishikesh Hills, are at the forefront, offering discerning buyers an exceptional opportunity to invest in a lifestyle that transcends the ordinary. It is located in the peaceful heart of Rishikesh with a captivating backdrop of the Ganga River. This 15-acre estate features 30 luxurious villas, each with its private pool, expansive terraces, and personal gardens, creating an elite lifestyle enriched with top-tier amenities. The estate boasts a lavish clubhouse for social engagement, outdoor leisure and recreation facilities, and a strong focus on sustainability and eco-friendly practices. Each residence is meticulously crafted with premium finishes, ensuring that every aspect of the home exudes luxury and comfort.

Beyond the physical attributes, luxury second homes provide a unique experiential appeal. They offer a lifestyle that is both relaxing and enriching, allowing homeowners to engage in various activities that enhance their quality of life. Terra Grande at Narendra Nagar is designed to offer such experiences, with its strategic connectivity for easy commuting and a range of recreational options that cater to diverse interests. Whether it’s a peaceful evening by the pool, a social gathering at the clubhouse, or a leisurely walk in the gardens, these homes offer a lifestyle that is both fulfilling and luxurious.

For astute buyers, investing in a luxury second home like Terra Grande Rishikesh Hills is not just about acquiring a property; it’s about embracing a lifestyle of unparalleled luxury and exclusivity. With its amalgamation of state-of-the-art elegance, wide-ranging amenities, and strategic location, Terra Grande offers an extraordinary living experience that goes beyond mere investment.

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