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Luxury Living

In: The Luxury Market in India

Author

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  • Himadri Roy Chaudhuri

Abstract

The concept of luxury is incredibly fluid as it varies significantly across time and culture. In the past, it was associated with castles, champagne, caviar or clothes. But nowadays, with increased affluence, luxury boundaries are getting redefined and are no longer solely reserved for the elite. People are enjoying much more material comfort in comparison with previous generations. Simultaneously, new forms of luxury consumption are evolving which include the elements of experience and particularly taste, to invoke perceptions of individualism and exclusivity which often surpass the importance of monetary value (Chaudhuri et al. 2011). Surprisingly, this trend is also evident in emerging markets and India is no exception. This phenomenon is no better exemplified than in India’s luxury real estate sector.

Suggested Citation

  • Himadri Roy Chaudhuri, 2012. "Luxury Living," Palgrave Macmillan Books, in: Glyn Atwal & Soumya Jain (ed.), The Luxury Market in India, chapter 14, pages 179-187, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-26416-9_15
    DOI: 10.1057/9781137264169_15
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