Changing face of Indian real estate
Theme-based homes are gaining popularity as the preferences of Indian home buyers are changing with time. Gone are those days when a retired man in his late 50s could finally build a small house for his family with all the money he had saved through provident fund and gratuity.
Today even a 20-something with a promising career thinks of investing in a property and because of that developers are more than willing to accommodate the changing needs of today’s customers. They are experimenting more than ever, taking risks and are spoilt for choice!
Growing competition, rising aspiration and increased exposure to global standard of living have led to more sophisticated real estate developments in India.
To differentiate their residential projects from competition brands and to cater to an evolved set of customers, the developers are now coming up with theme-based housing projects in various cities of India. Most of these high-end and theme projects are coming up in and around metro and tier-I cities such as Delhi NCR, Mumbai, Bangalore, Chennai, Pune, etc., primarily due to their higher density of corporate employees with high disposable incomes.
A few notable theme projects
PurvaVenezia, Bengaluru by Purvankara Builders brings the spirit of Venice in this theme project
Image courtesy :http://www.puravankara.com
Romano, a Roman theme residential project developed by Supertech at Noida
Image courtesy :https://www.makaan.com
Lakeside Habitat by Prestige Group is a Disney theme project in Bengaluru
Image courtesy : http://www.propertykhazana.com
Villa Viviana is a Spanish themed township in Chennai, it’s a JV project by Arihant Housing and J P Morgan
Image courtesy :https://www.proptiger.com
US Open Apartments by Nirmal Lifestyle is a sports theme project at Mulund, Mumbai
Image courtesy :https://im.proptiger.com
Other few theme-based projects are
Ambrosia by Ajnara Group in Noida
Lavasa Villas in the Lavasa, Pune is inspired by the Mediterranean theme
Why theme-housing is gaining popularity?
Innovation is the key to progress in any industry, real estate is no exception. In earlier times a luxury house meant a large living spaces, fancy facades and high-end amenities and security gadgets. But now that a sizeable section of Indians are more exposed to global standard of living and are interested in adapting to it, more and more developers, influenced by customers' changing preferences and tastes are making projects with specific themes.
Due to the originality factor, theme-based housing is expected to grow continuously in times to come. Especially now when the Indian developers are joining hands with international architects, designers to bring true essence of global styling in Indian constructions.