Today the ways of owning a home have changed. A buyer looks at an attractive proposition which includes tax efficiency, stability and security, profitable investment, a better standard of living, ease of travel and above all health-supporting facilities in their homes. Real estate developers have studied the customer behavior and analyzed that the buyer behavior has seen a paradigm shift towards the luxury segment of real estate. The concept of investments is drifting towards world class branded homes, which include design by international architects, innovative interiors, and a gamut of other services which are a part and parcel of basic amenities.
Looking at the way the country's economic health is growing, we have an increased number of buyers who have high aspirations as the disposable income in the hands of investors is increasing. We have investors as well as end users aspiring to own beach residences, golf retreats, mountain homes, and properties in scenic locations. There is a consistently rising demand for second and vacation homes. Art and luxury real estate are directly linked with the highest levels of creativity and exclusivity further adding to the value of their luxury homes. While the year 2016 saw a lot of uncertainty among the buyers and sellers, but the luxury real estate wing is still enthusiastic. With a lot of new developments and trends in amenities as well as design, the smart home culture makes you feel like we are living in a completely different era!
Renowned groups like Tata are offering premium apartments, with the vicinity having schools, hospitals, metro stations, petrol pumps, hospitals, banks, ATMs, markets, bus stands, office complexes, parks, etc. In addition to it, facilities like private gymnasium, green campus, swimming pool, complete home automation, advanced home security which can be operated by mobile phone, rain water harvesting system, power back up, water supply facility through bore well and much more are also provided. Taking into account the aspirations of the buyers to have a luxurious and a healthy lifestyle; developers have started offering modern health facilities as well. The wellness industry in India has become a sunrise sector. The well-heeled and well educated segment in India is demanding a healthy lifestyle to recourse to their hectic and pressured lifestyles and covet a sophisticated urban living experience. Developers say they are encountering an enlightened customer segment, which not only aspires for a luxurious yet healthy lifestyle, but is willing to invest in one. A strategic product differentiation is the one that is setting the developers apart.
Health-supporting features are now acting as a USP for projects. A latest offering has been the addition of vitamin C-infused showers, effective air cleaning and treatment practices like particle filters, UV sanitation, and activated carbon air filters. A large focus is being given to optimize green spaces and the buyers are also willing to pay a premium for such wellness features. Looking at the slump in the market, developers’ are offering new schemes and luxury to generate some interest in such luxury property and attract the prospective buyer in this segment. Though the luxury and ultra-luxury segment has a big gap in prices, the developers are not reducing prices as per buyers' expectation, rather are attracting the buyer by offering such new innovative features in the property. Theme-based projects with themes like international culture, geography, IT, sports, children and senior living are being offered. In addition to it, architectural formats like Egyptian, Arabic, Spanish, Mediterranean, Roman and Moroccan themes are being imprinted on the housing projects at the design level. Also, the marketing approach in such projects focuses more on the aspiration for exclusiveness and status among people who can afford to avail of it.
Thus giving solutions to the two biggest problems that we face today, i.e. health and housing this combined concept is like a revolutionary and pioneering concept. Supporting the physical and emotional well-being of individuals, so beyond the green is defining a completely new category.