Penthouses, a common term in the world of the rich and luxurious, are steadily gaining popularity despite the rising rental and sale costs.
Characterized by large open spaces, so much so, that one can light a fire in the winter, plan barbecues or even set up a kitchen garden, penthouses are clearly part of the luxury segment and therefore have a very different clientele.
They comprise almost all amenities that one can think of, right from modular kitchens to puja rooms, to intercoms to television sets, full-fledged security and water supply and other such facilities.
Puja Malhan, a resident of Banjara Hills, says, “Penthouses are comfortable even for those who want to keep pets.
Besides, it gives children ample space to play and one can just sit outside in the garden and sip tea or enjoy any other activity.”
Unlike in the case of flats or apartments, penthouses usually come fully furnished. Most agents or owners will tell you that all you need to bring is a briefcase, everything else is set up.
Costs for renting penthouses vary greatly and are in proportion to the luxury elements provided. For instance, a fully furnished penthouse could cost a monthly rental of anywhere from about Rs.30,000 to Rs.2,00,000. On M.G. Road, a penthouse of 1,500-2,000 square feet would be available for around Rs.30, 000 while one spread over 2,000 square feet at Jubilee Hills comes at an exorbitant Rs.1,60,000.
A penthouse of more or less the same area would cost around Rs. 60,000 in Mehdipatnam. In Banjara Hills, a 1500-2000 square feet pent house would come at a monthly price of Rs. 45,000.
Due to such steep prices, penthouses often remain vacant for months together. Getting a tenant willing to shell out such a price is often an arduous task.
“For those who are sceptical about the summer months (given that penthouses are usually on the terrace or topmost floors), a range of options are available,” says Amer Akber, a resident of Masab Tank, who owns a penthouse.
“For one, most penthouses have several windows, so opening all of them to facilitate cross-ventilation is one option. Secondly, a green canopy can be put on top of the penthouse, the kind that is used in greenhouses and nurseries so that it radiates the light and allows only partial sunlight to filter in. And thirdly, because penthouses are part of the luxury segment, most owners would be able to afford air-conditioners or air-coolers. Alternately, there’s also the option of false ceilings,” he elaborates.
Rituparna Sur, who lives in a penthouse in Gachibowli, says, “I don’t mind the summers at all. I get an incredibly good view of the sky and I am happy with that”.
Some penthouses are also given out for commercial use especially to start-up organizations that are either low on capital or urgently need a plot to commence business. For those who love luxury, a penthouse is the best option albeit not always viable.
