Paarth Infrabuild

Future of work and home spaces

We are on a long road to recovery from the initial disruption created by the pandemic. It, however, is sure that not everything will go back to how it was pre-Covid. Somethings would have, perhaps, changed their character forever.

Future of work and home spaces
Future of work and home spaces

The lockdown brought a huge change to the workplace. Work from home (WFH) became the norm rather than exception. As per estimates from industry experts more than 90% of 4.3 million IT workforce worked from home during lockdown. And it seemed to have worked well, contrary to the early skepticism. The best part is that both the employee and the employer seem to be happier with this arrangement. While increased productivity warmed the hearts of employers, employees enjoyed flexible working hours and savings in commute time.

Learning from IT industry’s early moves, other industries also started to figure out ways of getting a portion of workforce WFH without disrupting the work ethics. Employers also saw it as an opportunity to reduce infrastructure and administrative costs. Conferences and meetings went online, helping save critical and expensive commute and helping organisations take swift decisions. Also, employees could be close to families during these uncertain times, especially when kids were home due to school closure. And there has been a vast acceptance of these methods. Even the courts in the country, started using video conferencing as a viable medium to do hearing. 

WFH also helped companies to tap into a pool of talent, which was not available earlier. There were instances when employees were not willing to move places, resulting in shortage of talent of a particular type. But with WFH becoming a norm, this has no more remained a challenge. Also, people who left their homes, leaving ageing parents behind, for a better life, could now shift back and be next to their parents without affecting the work. This means very special for women, who had to sacrifice their careers for commitments at home, suddenly finding new opportunities.

Another defining aspect of the pandemic induced work innovations has been a realization by employers in industries other than IT, that remote work for a large proportion of people in every industry is possible. As organizations tried it under compulsion and found it working, it is expected to become a regular feature going forward. This should result in continuation of these measures as it works well for both the employees and employers. There was an announcement by Deutsche bank with a plan to have almost 40% of its workforce working from home permanently.

However, there has been a flip side to WFH also. It is yet to be ascertained as to the impact it will have on employee morale and loyalty over a longer period of time. The lack of physical contact will affect the ability to group work, ideate and solve complex challenges. This feeling of isolation could also affect the mental well-being and may play havoc with self-confidence of sensitive employees. As non-verbal part of the communication is not possible, the exchange in certain situation could turn unhealthy. We can already hear employees complaining about unstructured and long hours of work affecting their life in multiple ways.

The problem, in fact, extends beyond the mental well-being. The bedrooms and living rooms are being converted to make-shift offices, which is an interference of work life into personal space. Most of the houses in India are cramped and don’t have appropriate office furniture, which may lead to health issues. As personal life is intruded into, a lot of employees and their families may find this experience awful. The ambient noise, at times, create embarrassing situations for individuals and trying to hide from it could result in employees not being at their normal self. Also, a large set of people have an extremely casual approach to work, when in a relaxed setting, which may be off-putting for colleagues in the work group. 

What then is the future of WFH in India? Basis the cost reduction it offers to employers, there will be an increased traction to continue and enhance Work from home. A large proportion of employees on other hand are already feeling weariness of this change and may like to resume the normal office functioning at the earliest possible opportunity. Multitude of work in offices, including the IT corporations, require more than one teams and employees to work together on a problem. Their synchronization has been critical for organizational success. Keeping this and other factors in mind, most of the organizations may be forced to resume operations like pre-covid times, once the scare is over. However, a good solution can be blended office – working from home on specific days and working at office on other days. This could be a winning solution if proper planning with thorough understanding of each role.

This new way of thinking will also result in paradigm shift in other industries. Real Estate industry is the one that is expected to feel this change the most. The market for office sales and rentals may face upheaval in short term. On the other hand, residential developments in emerging and new locations may see an uptick in demand. Challenges of working and managing office work from cramped spaces will force people out of their homes in busy localities to look for new and larger homes increasing the transactions. The noisy buildings located next to a street as standalone building, will lose charm and large complexes away from main road offering less noisy surroundings will gain prominence. It will not be a surprise to see larger homes or apartments with an extra room getting into favor, when compared with smaller homes. The locations with good IT infrastructure will also find more buyers. Also, with travel and other expenses down, the ability of an employee to pay the EMI amount would increase substantially, giving him the confidence to invest in a bigger apartment.

As the impact of WFH becomes clearer, we will know the way it impacts various industries. One thing, however, is sure, that the housing real estate industry is sure to see its best days. The focus will also shift from purely affordable housing to apartment complexes located away from hustle bustle of busy market areas. The large township projects will be in vogue and certainly score over small city centric developments.

Perks of Township Living

A township is like a mini town inside a large town and provides plentiful amenities to give its residents a style and a living, that is so different from living in a chaotic city of today. A thoughtful mixture of business and retail areas, housing and open green areas is, what ticks well with those selecting to live in here. Townships have gained remarkably in style across the country thanks to numerous advantages it offers. Let’s have a glance:

Perks of Township Living

1. Unmatched Security

Equipped with advanced automation and management systems to make sure safety, townships are being talked-about as the most secure residential zones. The availability of CCTV and 24/7 observation with guarded posts make these residential properties absolutely safe for inhabitants.

Security could be a key concern for families, particularly working couples. The 3-tier security which ensures a secure perimeter as well as an eye in every corner of township with the help of technology, is very reassuring for families with kids and elders.

2. Best in class amenities

Apart from providing snug living areas, townships provide a varied best-in-class amenities and comforts. Be it a shopping area, a mini-theatre, party area or a sports space, townships provide various comforts within one common campus.

Most townships given their sheer size are delicately positioned off from town that directly implies – no traffic, no pollution and no urban chaos, shaping it as a dream-come-true for its residents. Townships facilitate and encourage ‘Living together happily’. The shared amenities not only ensure the best experience but also allow residents to come together to enjoy these and thereby forming common interest groups, which could also help in better upbringing of kids.

Various clubs that encourage sports and fitness activities like court games, football, basketball, cricket, running, cycling, etc. Hobbies and crafts like artistic production, painting, and sketching, etc. can be pursued inside the townships without worrying for eternal interventions and provide a plethora of choices to the residents to bond with one another.  Celebration of festivals, spiritual ceremonies, etc. take a distinct colour altogether, thanks to the unique ambience a township provides.

The critical facilities within the townships like health clinic and school ensure that a safe bubble is created for its residents to enjoy life without a worry.

Open areas, parks, curated gardens, paved roads and other such infrastructure which is well designed and modern, offers peaceful daily life.  Walk-to-Work opportunities help improve work and life balance.

3. A city you co-create

Townships offer a great opportunity to its residents to take an active part in its management. It ensures that you could create a community which is more homogeneous and therefore, offers benefits beyond physical comforts. It is a socio-economic zone that brings unparalleled freedom to create new relationships and allows you to follow your passion. A township offers residential dwellings for people from different socio-economic backgrounds. However, the simple fact that all of them have chosen it away from the chaos of the city brings that binding thread – the hope of building a better future.

Townships have, therefore, been center of excellence in learning and sport activities and outsiders have always watched it with a desire. By bringing in a large aspirational population together, it replicates a large city without the hassles of living with archaic infrastructure, that is troublesome.

4. Eco-friendly Living

Townships are generally planned with eco-friendly and pro-people options like ground-water harvesting, proper sewage disposal, large greens etc. These ensure that one lives with lesser guilt of consuming the natural resources and in fact, in some cases giving more than what one is using. Some of the new townships also have solar power panels for common area lighting etc and wi-fi enabled smart infrastructure. Such infrastructure is future ready and offers long term health and economic benefits.

There is absolutely no doubt that each one of us want our children to grow up as responsible global citizens. Townships can be looked at as the crucible for their experimentation. How? Simply because it offers a possibility to work on one’s ideas at any age with fellow residents, with whom one doesn’t have a direct relation but a common wire of residentship. It is like a college alumni network, with a much wider landscape and variety.

The children growing up in such green and happy surroundings grow up as better citizens with love for ecology. That is the first step for them to learn these lessons early in life in these settings.

5. A high life

Townships make it possible for mid-income families to live in peace with beautiful surroundings, once they could only dream earlier. This is one major difference which townships offer, compared to stand-alone residential projects. The life inside a township is not very different from the one offered in developed societies and which has remained like a dream for a common Indian. With large group of similarly aligned people, it is possible to live that dream for most of the people.

Another important aspect of life in a township is the opportunity to rub shoulders with the best in society in familiar surroundings. Townships offer residential facilities to people from different strata of society and have some of the common features. Some of the townships also offer some very special facilities. For example, Paarth Republic by Paarth Infrabuild in Lucknow offers an international cricket stadium. Now such a facility is not possible to have for a commoner in Lucknow, but just because one is a resident of the township, it comes without any extra cost.

Also, a large population with affinity to good lifestyle in one place offers a great market place to brands and they provide the best products and offers to such communities. It is not very difficult to see special privileges being offered to residents of such townships due to an attractive and homogeneous market available to brands.

The advent of townships emerged from attraction of suburban living, which embellished with amenities and security offers comfort and lifestyle, which till a few years back, was a dream for most Indians. No wonder then that these are the hottest selling dwelling units in most of the cities.

Paarth republic with an excellent location bang on Lucknow-kanpur highway and lose to airport, is rightly considered by many as an “Island of opportunity”.

A vacation without leaving your home

The unpredictability of the pandemic and the negativity of news around, coupled with the strain of adjusting to new realities of work, child-care and their school, have almost everyone I know craving for a vacation. Yet with multiple travel restrictions and quarantine process in place, a carefree getaway doesn’t look like a great possibility.

However, vacations are proven to be an important part of well-being. Various studies show that people who took annual vacations are physically fitter and have a better sleep quality. But in the given situation when stepping out of one’s house is looked to be brought with risk, how does take a vacation. For those, who don’t feel safe to venture out in the current circumstances or with a newborn or an elderly at home,  a staycation can provide some of the same benefits- A chance to rest, a break from usual routines, opportunities for freedom and play.

A vacation without leaving your home
A vacation without leaving your home

In fact, sometimes a staycation can be a better option than a vacation during holiday season. Haven’t all of us faced frayed nerves, when we travel through the crowded airports or railway stations? Remember the scenes of all tourist places, which we see as pictures in newspaper around New Year holidays. Long traffic jams and people all around don’t let you rest and often make the whole experience more tiring. The only thing that is difficult to bring in a staycation is the adventure that you may get in a travel.

Here are some ideas to have adventure without leaving your home:

  1. If you stay in a well-developed housing complex by a reputed developer, you can find enough places to go out on a picnic within its perimeter. You can involve a couple of families more and organize a small singing party around fire and order food from outside. This could be more fun than your vacation at any hotel in a tourist place.
  2. If you like reading books and watching movies, get your best picks and enjoy with these. With some of the largest hotels, like Taj in the town offering a home dinner, you can just relax and get a sumptuous dinner served to you by the best in business. This could be a wonderful surprise to your spouse and kids, and will cost you a fraction of cost that you might have incurred on travel otherwise.
  3. Camping out is another idea that excites young and old alike. If you are living in a township, you can find enough nice places to camp out an evening. You can have a bonfire and the whole family can cook together. The whole experience will be a learning experience for kids and stress relieving for elders.
  4. Home swap is another wonderful idea during staycation. You could do this house swap with a relative or a friend for a few days. If you are part of different housing complexes, you will enjoy a different life around you. The flora and fauna and the whole routine change itself will have a very calming effect.

These adventurous ideas will make your life take a break from routine and will have similar benefits as when you go out on a vacation. With wonderful facilities and large green areas, Paarth Republic Township in Lucknow offers you an opportunity to take a vacation without stepping out of the boundaries, which keep you safe in these uncertain situation.

5 reasons why one should buy property in Lucknow

City of Lucknow, inhabited on the two sides of river Gomti, is a beautiful city that transitions from old to new in a matter of a few kilometers. The core of this city is its historical monuments, which are juxtaposed with glass and steel facade of state-of-the-art constructions. The old bazars are still attracting crowds for their variety, while fashionable malls are equally liked by new age city dwellers. The tranquil locales, modern infrastructure and a relaxed lifestyle has been attracting people from all over to make this city as their home for years and with time, its charm has only increased.

5 reasons why one should buy property in Lucknow
5 reasons why one should buy property in Lucknow

Today, Lucknow has emerged as one of the country’s most important cities. Lucknow is now emerging in various sectors such as retailing, manufacturing and IT after securing its position in the smart cities of India, thanks to a proactive government. As a natural corollary, the city is attracting many developers and homebuyers with the growth of new infrastructure. Here is a list of top 5 reasons, why one should look at investing in a good property in Lucknow.

  1. Lucknow Metro – Every city in India has faced chaotic traffic as it grew. Lucknow, however, escaped this due to visionary planning of infrastructure agencies. The metro rail work was started ahead of time and resulted in being ready when the city would have faced challenges of traffic. It makes moving around in the city very comfortable.
  2. Connectivity with the world – Lucknow boasts of a modern international airport and a railway station connected to almost every city in India through an efficient network. Unlike most other cities, both these places have excellent connectivity with rest of the city. The Shaheed path connecting to airport from the developed areas of the city is a testimony to the foresight of city planners.
  3. Recreational facilities – Lucknow has many places to spend a day either in complete relaxation or by engaging in an activity one likes. Two cricket stadiums in the city, with the latest one, Atal Behari Vajpayee stadium even hosting international cricket matches, have brought the most played game in India to its residents in a spectacular fashion. The museums, cinema halls and a host of other such facilities ensure that one never feels lack of recreation options in this city.
  4. Medical and educational infrastructure – This city rubs shoulders with the top metros of India, when it comes to educational and medical infrastructure. With top schools and colleges, an IIM, a AIIMS equivalent hospital with multiple top notch private hospitals, Lucknow offers a peace of mind like no other similar city in India. The city provides the best environment for a child to engage in various activities, while studying for a multi-faceted development.
  5. Modern retail – Lucknowites have adopted to modern retail like fish to water. Latest malls like Phoenix and Fun republic have attracted and introduced people to the best national and international brands. The ubiquitous fashionable city dweller, mixing with the people in traditional attire make this city as lovely as one could get.

There are a few locations which have harnessed these advantages to the maximum. A couple of residential complexes, Arka and Aadyant by Paarth Infrabuild in Gomti Nagar Extension, located right next to Phoenix mall and Atal Behari Vajpayee stadium, bang on Shaheed path are the kind of location, one can only imagine for that coveted home.

Lucknow housing market – Opportunity for investors and end-users

Lucknow is capital city of Uttar Pradesh, the most populous state of India. Lucknow is always known as the cultural hub of north India and is also fast emerging as the biggest commercial hub of North India outside of Delhi NCR region. The infrastructural facilities in the city rival the best in the country in all aspects. It is the safest town in Uttar Pradesh with state-of-the-art policing protecting its residents. The medical facilities available in the City both in public as well as in private sector promise to protect people of the city from any eventuality. Lucknow city weaves a magic encapsulating traditional ambience with Rapid and ambitious futuristic growth. This unique blend of culture with social infrastructure defines the charm of the city and entices large swathes of population to make it their home every year.

Lucknow housing market – Opportunity for investors and end-users

While Lucknow has always been known for its culture, it has witnessed some of the best developments in last one decade. The ubiquitous metro rail covering the serpentine lanes below has a place of pride and convenience. The expanded airport connecting its citizenry to destinations across the world has opened the gateway to commercial centers of the world, while the newly constructed expressway connects this airpot to the pockets of commercial excellence within the city. The modern highway to Agra, connecting further to Delhi gives wings to the ambitions of ever-so-eager entrepreneurs from the city. The health infrastructure here stands shoulder to shoulder with any city in the world, what with Sanjay gandhi post graduate institute leading the medical facilities in this part of the world. The private investment has reposed its faith in these initiatives and contributed to creation of job opportunities in different sphere. The swanky complexes of IT companies stand a testimony to these efforts. While Lucknow has never been a manufacturing hub with that title belonging to its twin city Kanpur, the new age industries are finding an elevation to their pitch here.
Lucknow of yore was dotted with flea markets, but the new buzzing Lucknow challenges the hegemony of traditional retail centers with the giant shopping complexes that balance the nawabi charm and the poetic humdrum with the hustle and bustle of modern busy life, ever so delicately. The Atal bihari Vajpayee international cricket stadium has added to the charm and utility, occasionally acting as a magnet to the city. Quality education is another pillar that has supported the residents of this boom-town in achieving their dreams. From foundation schools to a world class university bringing out the best in its students, the city embraces students from all nationalities and faith and gives them the values that highlight their achievements years later.

The thriving economy and an ambitious middle class population has resulted in this city growing. No wonder then, that it has reported to have one of the highest growth in disposable income in the country in a decade. Exposure to modern life style and a high disposable income has upped the propensity to invest for a better way of life. Residents of adjoining towns and cities and also from rest of Uttar Pradesh always invested in Lucknow city. The state being an agrarian rich region, has seen the incomes going up in small towns and cities, resulting in citizens looking for better life-style and therefore heading to Lucknow. A home in Lucknow is a matter of pride for anybody living in any part of of eastern Uttar Pradesh. It has become more so in recent times as both the business as per the job opportunities give fast in this city. Earlier Kanpur used to be the business hub with Lucknow the Cultural Centre, but now Lucknow holds both these titles.

Lucknow has also seen significant political stability for almost A decade now. It has helped the infrastructure projects to complete in time and the town to grow in a planned manner. Private developers of national and international repute have also launched various residential and commercial projects in the city with world class amenities and architecture. This has also enticed old residents of the city living in crowded and less developed localities to buy a home and live in modern housing societies. Therefore, while most of the urban centers in India have struggled to maintain the speed of sales of houses and the prices, Lucknow real estate market has seen a consistent growth, both in terms of price appreciation and number of units sold. Localities like Gomti Nagar and Kanpur Road have seen significant traction from buyers. A lot of these projects which were launched a few years back have been completed and residents have shifted in. This has further boosted the confidence of end-users to invest in new properties. This, in turn, has offered incremental returns on investments for investors and therefore they keep flocking to various projects.

Other factors which have influenced this trend are – availability of land within a reasonable distance from City Centre, relatively low cost of construction and availability of comparatively cheap labour. This has enabled the developers to offer excellent propositions to buyers within their budget. Buying a property in Delhi NCR have continued to be unaffordable for a middle class buyer and the same customer finds excellent choices at affordable price points of between 40 and 70 lacs here. Lucknow city has seen multiple large investments in the real estate housing sector and it is expected to continue to see the same going forward as people across the cities restart their life after the pause due to covid-19.

Lucknow housing market is expected to see hectic activity, as people are looking to stay near the places where educational and medical facilities offered meet the word standard. The availability of ever increasing employment opportunities makes Lucknow even more attractive. The administrative reforms initiated by the present government in last two years have started yielding results making the Civic infrastructure in Lucknow reach newly developing localities. Lucknow reality market is slowly turning into the proverbial gold pot for the investors and the best place to live in for the end user.

Urbanisation – Opportunity for smart growth

Countries like India are witnessing a very fast migration of population from rural areas to urban areas. It is also showing in the reducing weightage of agriculture in the GDP. This has been a phenomena observed worldwide – today’s developed world had seen it in the middle of last century coinciding with the industrial revolution. There are lessons to be learnt from those examples and plan for it in advance. Communities across country will be compelled to adopt technologies and processes keeping this reality in perspective.

With more and more of population living in cities, urbanization is bringing in significant changes to social and economic structure of these. It’s also exerting significant pressure on infrastructure and resources and potentially opening the door to urban catastrophe if prior planning is not done. At the same moment, it gives local governments an opportunity to plan and correct the infrastructural and social disparities of past.
If cities don’t work for entrepreneurs, employers, and citizens in the same breath, then the related flows of trade, technology, infrastructure and employment will be squeezed. Creating a master plan of fast growing cities, taking into account also the rural areas that it is likely to swallow, is just the first step. If administrations can harness data-driven intelligence to identify appropriate opportunities and priorities and create a smart plan it will ensure an equitable and futuristic development. Another opportunity which this phenomena offers is to get the data of all the various departments to talk to each other through smart algorithms and use it to create a seamless urban perspective. It will help in deploying predictive services ensuring right services to the right population group, at the right time.

Latching on to this idea, a number of cities, ably pushed by central government, have started working to create smart cities, though with varying understanding. Some look at it as use of technology to optimize the urban infrastructure and traffic flow. Others look at it as a push towards initiating smart governance, where policy making is more driven by data and logic and oriented towards its citizens. Some technologically advanced administrators are planning to use Internet of Things (IoT) platforms to monitor city infrastructures, which means managing everything from traffic flows and parking to water and air quality through centrally controlled and data driven approach. Data generated thus, can be used to further enhance environmental sustainability and creation of renewable energy resources.

Most urban centers in India are struggling with a creaking infrastructure and legacy planning issues. Therefore, this opportunity to reorient and plan for fast urbanisation opens new roads to set it right. A data based smart planning will help orient cities around a couple of central themes and can deliver a citizen-centric development. The planning for employment opportunities, future patterns of flow of people and more equitable social development will set these cities on a growth path. If we miss this opportunity now, our cities will end up being chaotic masses which will be a social and economic disaster. The choice between a smart growth and an urban mess is to be made now.

What should developers do in a challenging market

The real estate market heading into the current crisis has sometimes been described as the real test of character of developers. The deepening economic impact of the coronavirus pandemic is felt worldwide. It is not only the immediate economic challenges which are worrying developers, but also the imminent social and behaviour changes in buyers. It will push us to learn to cope with and embrace a new professional paradigm.

Despite the chaos that’s taking hold in the broader market, real estate developers can apply brave but smart strategies to keep their projects going and assets producing. There have been instances of existing businesses cutting down on their manpower or reducing salaries across the board, which will leave lesser money in the hands of consumers, resulting in problems with existing customers who may be on an instalment plan. Also the prospective buyers will be squeezed for funds and there is real danger of reducing per unit price. Some of the investors who had been holding on to their investments in the hope of better returns, may come out to sell in desperation, forcing the prices further down.

What then, a real estate developer can do to survive and come out stronger on the other side of this crisis. There are opportunities which will need to be tapped with a suitable plan. In the space of customer inquiries, it will be prudent to increase spends on creating brand in digital world. With people spending more time indoors and working long hours on their computers, it is quite intelligent to create a connect with customers online. Also, customers try to interact with brands in various ways as online search and research is very intuitive. The developers who could create a simulacrum of the customer buying cycle and fill all the gaps that might exist in digital brand positioning, will walk away with bulk of online enquiries. It would be worth presenting to customers the options understanding the current state of customers.

Another opportunity that presents itself to the developers is in terms of canvassing for upgradation. There is a sizeable chunk of people, who have paid off the housing loans they had taken for their first homes. It is time to give them compelling reason to upgrade or buy another property. Historically low interest rates and availability of good options at considerably stable prices will drive in bargain hunting investors with surplus funds. Can a developer reorient its product proposition to suit their requirements.

The onset of long term social and behavioural changes should also be considered in redrawing the product design as much as possible. In days ahead, functionality of design will win over luxury. It will be smart to reorient designs keeping the new social habits people will form. A great outdoors within the precincts of project may become more attractive than a high end club house. Large open though covered spaces for small group conversations would be inviting for more people than a large banquet hall. Provision of health care facilities and good house keeping services will trump a restaurant or a coffee shop. A developer sensitising and orienting the design and construction team to these realities will be a winner compared to the ones who don’t do this.

Every challenge hides an opportunity in its lap. It needs effort to recognise the same and work to capitalise to come out on top once the challenging situation is over. Time will tell us how manages the crisis period proactively and wins and who gets crushed under the weight of inaction.

Vertical expansion – Answer to urban land scarcity

India is witnessing an unprecedented growth in urbanization. Better health care facilities and educational and job opportunities are driving people from rural areas to urban centers and resulting in huge population growth. This brings the challenges of land planning and environmental control to town planners. Expanding cities horizontally to make room for all these people will end up destroying more natural resources and therefore vertical growth of cities is being considered as a viable option. Building upward instead of outward enables us to host large number of people in a small area, conserving land and natural resources. The remaining and available land, therefore, could be used to create civic infrastructure for the population living in the locality.

Vertical expansion – Answer to urban land scarcity

The advent of high-rise buildings have also coincided with provision of world class amenities in housing projects. A vertical growth also offers people living on higher floors a panoramic view of the city around and makes life beautiful. A high floor living also avoids noise pollution and other challenges which affect quality of life in low rise developments. Various amenities including car parking etc can be managed in the basement and lower floors to ensure a smooth passageway to walkers. With fast lifts fitted in these buildings there is no challenge in moving between floors. In fact, all the premium buildings in mega cities like Mumbai and Delhi NCR are vertical developments.

Vertical buildings could also offer other environmental benefits. Having numerous services and amenities in the same tower would reduce the need for moving around. This can also save fuel and energy.

These buildings also create social connectivity by making it easier for individuals to socialize in common areas and visit friends. More like minded people in one place also offers opportunities to create micro-communities based on interest in these housing societies, reducing the need to go out and socialize. As more families live in a small foot-print, it is easy to develop social and civic infrastructure in that area as the users are already there.

Earlier people were concerned about multiple inconveniences related to high-rise living. However, with advent of better technology in almost every aspect, these are no more the real challenges. The modern building design and construction technologies ensure that we can keep building higher without worrying about structural safety. In fact, these building designs are more resilient than the traditional low floor construction. Most Indian cities have now 24*7 power supply, resulting in no downtime for various equipments including elevators in these buildings. The building safety norms are in place and following these is mandatory, making these buildings safer. Also, a behavioural factor weighs in, as high rise developments are done only by large developers with help from reputed construction companies, they offer better construction quality than the houses built by part time developers.

Vertical expansion of cities, without a doubt is viable solution to urban land scarcity. For the people who live there, also taste the luxuries of life which are not easily available in low height developments. It is not uncommon to see a prestige associated with this living.

Home buyers’ expectations in post Covid era

Corona virus pandemic has affected every aspect of our life. We are forced to spend more time indoors than outdoors. A lot of people have to manage their offices from home while children attend their online classes from the next room. This has created unique situations and new requirements. Homes becoming the center of all activities have resulted in being seen as alternative locations for doing many more things which were not considered earlier. Homeowners are now looking at shifting to a new and bigger home or buying another small home in the same project/ floor depending on how have they been affected during this time.

The pandemic forced people to make changes to their lifestyle and to their home designs as much as possible. However, everyone has realised that buying a home with an extra room is a better decision than to cut a size. This has also been aided by historically low interest rates and low housing prices. Homeowners looking out to buy houses are looking more for 3 BHK or spacious 2BHK houses than the smaller 2BHK ones which were the best selling earlier. It can be expected that buyers will look for buying homes with spacious designs and larger room sizes. Independent floors, villas and penthouses are expected to be back in vogue. A number of home-owners may also look for buying a second home within the same project, which can be used as a makeshift office under similar situations.

Buyers are also expected to look to buy homes which make living in them more relaxing. Larger balconies and outwardly facing home designs rather than apartments looking into each other will be more in demand even, if these will be a bit costlier. As everyone settles down and adjust to these new realities where even leisure activities will be inside one’s home, buyers will be willing to pay extra for well designed units with good circulation plans.
The preference for amenities is also expected to change fast. If a buyer has to choose between a Jacuzzi and an air-conditioned gym vs. open air sports and gym facilities, buyers are expected to prefer latter over former. Buyers are also likely to select a project basis the kind of amenities available. A simple and functional format where there are shops meeting daily requirements will be preferred over provision of a café or restaurants. A large green with multiple sitting and exercise options will top the list of a prospective home buyer.

Location of the project will also be scrutinised more than ever. A project location that avoids areas which are congested will be preferred even if it is a bit away from city center. The areas with good health care facilities and sanitation infrastructure will command a premium. As customers will be more concerned about their well being, they will prefer housing societies with good housekeeping facilities, even if it means paying a higher maintenance charge.

As all of us get more aware of our health, home buyers will be keen to ensure they understand each related aspect with respect to shortlisted projects before they buy a home. It may mean some extra cost, which will not be a constraint. Functionality of amenities rather than style will be in demand.

Luxury affordable homes – Mid income home buyers’ choice

Last few years have been tough for Indian real estate market. RERA and GST took a huge toll on the real estate market of India from 2018 onwards and it took a couple of years for developers and buyers to understand the implications and reorganise themselves. The tension in this market was palpable after the liquidation of the Non-banking Financial Companies. The NBFCs had been the main stay of growth in Indian real estate sector for last many years, as they helped bridge the cash flow gaps between the customers and real estate developers. This resulted in customers looking out for houses that can offer modern lifestyle but are available at an affordable price. This gave birth to a new phenomena in Indian housing sector – Luxury affordable homes.

Luxury affordable homes have been a paradigm shift in Indian housing market. While earlier, one had to choose between a house with all modern amenities at a steep price, or a home deprived of any amenity and located in a poor location available at a discounted price. Hitting a middle ground between cheap housing and international amenities, luxury affordable homes are meeting the expectations of new age consumers without charging a premium. It also brings a great hope for mid-income buyers. These are the buyers who could not afford a luxury home with all amenities and wanted a balance between price and facilities offered in a decent location. These customers are well travelled and expected the world standards to be followed in construction as well as surroundings and finishing of their homes. This new segment has met the expectations of these mid income families and customers have supported such projects with enthusiasm. The design and planning elements like infrastructure, amenities, nearby convenience and availability of transport have become important considerations for a contented life and affordable luxury homes have met the requirement of customers well.

Let’s understand some of the attributes of these houses. These housing projects are generally a part of large housing complexes and economies of scale allows builders to offer houses with modern specifications at a price that is steep. Development teams also spend considerable time in choosing a location for such projects which are in a well connected area but has not seen land prices appreciating absurdly over last few years. Typically such projects will have excellent surroundings and good infrastructure development inside. They have landscaped gardens and other essential amenities like swimming pool and  gym. However, these are not ostentatious and are more functional, catering to higher number of residents, with ease and with lower cost of maintenance. Another hallmark of such projects is the detailed planning and use of latest construction technologies to bring down the time and cost required to build these projects ground up.

Innovation in architectural design, space management, sustainable solutions and much more are now essentials for any new development compared to how it was earlier. Consumers are attracted with the offers of affordable yet modern looking housing options. Newer methods of construction and architectural designs are making maximum possible use of sustainable development, to which a big value is attached by today’s discerning customers. The provision of solar power, rain water harvesting etc. make these projects much sought after. The mid income customer finds this as a great proposition as he can get what he wanted at a price which he can afford.