India’s rapid economic growth has set the stage for fundamental change among the country’s consumers. The same energy that has lifted hundreds of millions of Indians out of desperate poverty is creating a massive middle class centred in the cities.” A recent study states that the number of ‘Middle Class’ individuals in the country has doubled over the past 8 years, from 300 million in 2004 to 600 million in 2012. The new tax amendments have also helped the Indian middle class to grow, make purchase and save at the same time.
“Private consumption has already played a much larger role in India’s growth than it has in that of other developing countries. In 2005 private spending reached about 17 trillion Indian rupees ($372 billion), accounting for more than 60 percent of India’s GDP” The living standards of the Indian middle class has risen to a great extent over the years as individuals are focusing more on luxury & comfort and less on the money spent.
Constant development and better job opportunities that offer higher salaries have diverted the focus on expenses, to living with luxury. Individuals are looking out for high-end developments that offer world-class features at the end of it all, even if they may or may not require them. Without a doubt, cost saving is at the back of everybody’s mind and why spend more when you can get something better at a lower price? The real estate market has grown significantly over the years with several real estate giants focusing on luxury as their main element, the other essentials simply follow. One of the best examples of modern-day living is Purva Silversands, a glorious residential project in Pune by Puravankara Developers. Spread over 19.52 acres, this development offers 1BHK, 2BHK, 3BHK and 4BHK residential spaces that speak ‘luxury’ and nothing short of it. With apartment carpet area sizes starting at 181 sq. ft. and going up to 1610 sq. ft., luxury space is what you will find in every apartment.
This development offers a plethora of internal and external amenities that are simply mind blowing! The apartments are 3 side open, provide beautiful ventilation, natural lighting and contain luxury fittings and fixtures, high quality flooring, elegant kitchens, wide balconies and windows providing landscape views, safety features and more. The external amenities at this development are one of a kind and include a clubhouse, swimming pool, meditation centre, gym, sports facilities and a play-area for kids, jogging track, Koi pond, sundeck bar, white sandy beach, multipurpose hall, restaurant, landscape garden and high-end security. Starting at an affordable price of Rs.17.50 lakhs only, this development offers the highest level of luxury & comfort at the lowest cost!
A rise in the number of ‘Middle Class’ individuals has created a new era of luxury that is only for the better. As India rises in economic growth and continues to develop in terms of infrastructure, education, wellness, job opportunities, etc., the Indian middle class will continue to evolve and live better lives of luxury and nothing short of it!