Real estate in India is growing at a very fast pace. With new housing developments being constructed every year, the country has become the land for real estate investments from all over the world. In India’s fast evolving real estate market, two terms have always dominated the conversations among both seasoned investors and first time buyers – land measurement terms square feet (sq ft) and acres. While Square Feet is the most widely accepted measurement unit in urban real estate, acre is used primarily for large land parcels such as a farmhouse, agricultural land and even large industrial plots. While these may seem unrelated at the first glance, both represent two crucial ends of the property spectrum. The fundamental understanding of real estate units and the aspirational lifestyle it can provide. Understanding land measurement terms can significantly impact your investment decisions, helping you compare prices accurately, understand plot sizes and communicate more effectively with agents and developers.
Twenty years from the rich and successful went for an option called the bungalow or the farmhouse. This is why the term acres became significant in the country. However with a rising affluent class, including entrepreneurs, NRIs, corporate professionals and celebrities, penthouses have now become the new success statement and a clear symbol of status in the country. People are no longer just buying spacious homes, they are now investing in a lifestyle, privacy, as well as exclusivity. As cities get denser and land prices soar, high rises have become the norm. Penthouses offer charm and ample space. The added benefits of security, amenities and panoramic views make it the perfect buy.
Developers have been focusing on luxury segments over the last decade, top developers have carved out dedicated penthouse offerings with private terraces, pools, smart home features and ultra modern designs. This has given penthouses newfound significance across metros and tier 2 cities alike.
With a rise of luxury high rise developments in India, the appreciation potential of such properties has also increased in the last few years. This has resulted in high net worth individuals investing in penthouses for capital appreciation and even good rental income.
The Tricity Spotlight
- With its clean environment, organized sectors and superior civic planning, Chandigarh has always attracted the elite. Penthouses in sectors like 66, 82A and 70 have gained immense popularity.
- Tricity’s rapid growth & vertical expansion is witnessing a high demand in penthouse properties from buyers. High net worth individuals are now preferring penthouses for their space, views and the privacy they offer.
- Many NRIs from the Tricity region who sought villas and bungalows are now going for penthouses due to the security offered, community living, privacy as well as maintenance benefits. This trend alone has amplified penthouse demand in Tricity.
- There was a time when penthouses in India were rare. Today, they are considered as practical luxury homes, combining privacy, security, space, amazing scenic views and modern amenities.
What’s Driving the Trend?
- Panoramic views of cityscapes and scenic landscape.
- Easily customizable interiors.
- Privacy
- Gated community security.
- Clubhouse facilities and amenities.
- Better value compared to bungalows and villas in outer sectors.
Over the last decade penthouses have shifted from being rare luxuries to desirable assets in India’s growing real estate market – and nowhere is this more evident than in the Tricity region. As land becomes more scarce and lifestyle aspirations grow, penthouses are increasingly seen as the perfect balance between indulgence and investment. Some noteworthy projects in Tricity are JLPL Falcon View, SRG Marbella Grand, Homeland Regalia, Turnstone the Medallion and Horizon Belmond.
These super luxury projects are set to shape the future of the Tricity region. Real estate projects in the region are developing at a very fast pace. This has resulted in migration in the region from different parts of the country. The future of real estate in Tricity does not end with these projects. One thing is for sure, the region is going to see an immense boost in the development of luxury residential projects in the coming years. What makes it desirable right now is the time. If you are looking to make a sound and appreciate real estate investment, now is not just the right but the perfect time to consider Tricity.
Real estate is one of the most personal and impactful investments you will ever make in your life. Whether you are calculating the exact size of your dream plot using the correct land measurement terms or fantisizing about watching the sunset from your private terrace in a penthouse in Chandigarh, knowledge is your biggest asset.
The Tricity real estate market is poised for continued growth and understanding the fundamentals can help you make smarter, more confident decisions. So next time you come across terms like kanal, acre and square feet, you won’t just nod, you will know. The region is offering a rare blend of planned growth, lifestyle quality, connectivity, convenience and investment opportunities with growth potential. Chandigarh, Mohali and Panchkula are not just real estate hotspots, they have a good potential to become India’s next big real estate success story.
