Did you know that India currently boasts 72 IT companies with a market capitalization of $1 billion or more, dubbed the “Unicorn Club”?
What’s more surprising is that 35 of these 72 companies joined the Unicorn club in the first ten months of last year, indicating that 2021 will be a banner year for Indian entrepreneurs.
In addition to the extraordinary investment frenzy, many of these firms who were further along in their development decided to go public to take advantage of the booming capital markets.
Because of the liquidity produced by a significant number of companies going public, the number of Ultra High Net Worth individuals has increased exponentially (UHNIs).
More than 40% of India’s unicorns are situated in Bangalore, the country’s Silicon Valley. Naturally, the number of new generation ultra-high-net-worth individuals (UHNIs) in Bangalore is rapidly increasing. These newly wealthy individuals want all of the trappings of affluence, including ultra-luxury mansions.
While the mansions in this area do not yet compare to those in Beverly Hills or Bel Air, the trend in luxury real estate is clear: greater costs, more international standards and designs, and larger properties.
There was conjecture at the start of the epidemic that real estate would lose its status as the preferred investment asset class globally.
Surprisingly, the events of the ensuing months not only reinforced real estate’s status as the preferred asset class, but also raised demand for larger, better-designed residences with a variety of sports and recreational amenities.
This trend is projected to be more visible in places like Bangalore, which have a higher share of jobs in knowledge-based industries like technology, research, and development, and engineering.
Following the bonanza from stake sales and IPOs, these companies’ founders and share-holding workers are now looking to buy the home of their dreams.
Great-end villa communities closer to some of the hottest tech hotspots in Bangalore, with all of the above features and future-proof architecture, are likely to be in high demand in the future, if they aren’t already.
While huge traditional developers dominated real estate sales in the past, a growing number of design-oriented, technocrat-led developers are now creating projects that are ideal for these new-generation billionaires.
Prime One Corp’s forthcoming integrated township with ultra-luxury villas in East Bangalore, which appears to have piqued the interest of billionaire entrepreneurs looking for their next home, is one example of this trend.