Have you ever imagined that a house will ever cost you an astounding Rs 100 crore? But this is the case with the concept of sky bungalow gaining a momentum across the metropolis.

For example, an 18,000-sq.ft, sky bungalow at Worli here is yours for just Rs. 100 crore. Advertised by the builders as castles in the air, 10 such bungalows in an ultra high-end apartment complex come complete with a dog park and crèche, an elevated jogging track and more such premium amenities.

Many luxury flats started coming up with the freeing up of land parcels of the erstwhile textile mills in areas like Lower Parel, Worli and Mahalaxmi in south central Mumbai. These areas have now started competing with tony locations such as Malabar Hill and Cuffe Parade.

But how many can go for such a super-expensive apartment? That only a small clientele is available is no deterrent to sales of uber-luxury apartments in south central Mumbai. Duplex apartments, with swimming pools, sundecks, multi-level automated car parking and five-star clubs, come at prices of over Rs. 1 lakh a sq.ft.

The reason there is no price drop is that prime properties do not have the margin of large supply, says Bharat Dhuppar, chief marketing officer of Omkar Realtors, which is building the “sky bungalows” in Worli.

Does this uber-luxury segment not get affected by economic slowdown? Such super luxury apartments have got their own clientele.

Jignesh Shah, an agent who showcases these high-end properties to high net worth individuals, seems surprised when asked about the slowdown. “What slowdown? These flats do not sell in a hurry, and clients take their time, but this market has its own dynamics,” he remarks.

Agreeing with this opinion, Venkatesh Gopalakrishnan, executive vice-president, Shapoorji Pallonji Real Estate, told a newspaper that sales were not high, but buying power in Mumbai is higher than in the rest of the country and that sustains this niche housing segment, he says.

These high end apartments are not only situated in the premium spaces but boast high quality features, amenities and interiors. For example, the under-construction World One Tower, touted as the world’s tallest residential tower at 442 metres in Worli, boasts interiors by Armani and Casa and a club and a spa by Six Senses among other high-end labels.

Even though you have been investing in properties for some time now, but if you don’t be alert and attentive then you might ruin your investment. So never get mislead by a real estate agent while buying a really valuable asset.

You should always keep in mind that real estate agents are here to do business, refrain from following their suggestions blindly. Don’t let your enthusiasm of purchasing a luxurious new apartment stuck you between huge claims and false promises. So, the next time if your real estate agent tries to lure you with his promises of getting you a cozy apartment, you need to be attentive that he might just be making stories.

 While investing in a posh locality always keep your ears up for hearing the following things from your real estate agent very often:

• You have the best the ocean view!

No doubt, owning a luxury apartment with an ocean view is itself a dream for everyone. However, not all agents can make it possible for you, it does not matter how much promising their approach is. Now-a-days all the estate agents try to provide you fascinating information such as “this apartment comes with an ocean view”.

But they always hide the facts and the obstructions from you. So even after paying the full amount, you end up getting an ocean view apartment obscured by a large number of tall buildings and trees.

• A spacious garage for accommodating 2 cars at a time!

Who does not want to own a car garage that is huge enough to hold at least 2 cars at the same time? So this is also one of the most common promises you will get from your estate agent. Though you might get huge garage, but it will either have storage regions or dryers installed in them which make the garage not big enough for holding 2 cars at a time!

• You’ll always get a good resale value for your property!

You should never fall for the statement given by your agents regarding the resale value of your property being invested. Since nobody can predict behavior of the market so it is not in anybody’s hand to decide upon the future resale values of properties and hence, you should invest your money wisely once you are aware of your requirements well.

• This is one of the best localities!

This is a very common untruth that you get to hear from your agent every now and then. You cannot just categorize a locality to be the best or worst one in an area. There are a numerous factors need to be considered while determining a property’s value. Every agent will praise a lot about how the near-by area of the property will develop in no time.

• Not much apartments are left, hurry!

Your agent might try you to hurry up for buying the apartment of his choice by giving lame reasons like “there is not much time left as only last few apartments are available”. You should never lose your calm at that time and end up investing in a wrong property; instead you should try to find out the reasons behind agent begin so pushy about selling the property. Even if they are offering you the most reasonable rates for the apartment, you should be cautious and not fall for the trap.