Emerging trends chart the course of the domestic realty market

Emerging trends chart the course of the domestic realty market

The article titled Transforming For Future states that Millennial home buyers have already made it clear that they prefer affordability, coupled with good location, over larger-sized homes in the far-flung suburbs. Simultaneously, developers are looking to make their housing projects more affordable for a higher customer base. These young professionals are less focused on size and look for homes in locations close or well-connected to their workplaces so that their daily commute is reduced and the work-life balance is maintained. These compact homes are also low on maintenance.

The article quotes Mr. Amit Ruparel, Managing Director, Ruparel Realty – "In a city especially like Mumbai which is space-starved, what really accelerates conversion is maximum space at minimum cost. Therefore, it is imperative to create a wholly functional home in a restricted space by utilizing every inch. We saw a huge demand in this segment and decided to build compact houses with best quality infrastructure. However, building such wholly functional and welcoming homes is a big challenge in a place like Mumbai."

The article also carries inputs by Mr. Anuj Puri, Chairman, Anarock Property Consultants, Mr. Gaurav Sawhney, President, sales & marketing, Piramal Realty, Mr. Gaurav Gupta, Director, Omkar Realty, Mr. Rohit Poddar, MD, Poddar Housing & Development Ltd., Mr. Om Ahuja, COO, residential business, Mr. K Raheja Corp., Mr. Sankey Prasad, CMD, Synergy Property Development Services, Mr. Boman R. Irani, Chairman & Director, Rustomjee Group, Mr. Ashish R. Puravankara, MD, Puravankara Ltd., Mr. Viral Chhajer, Co-Founder & CEO, StayAbode Ventures and Mr. Shishir Baijal, CMD, Knight Frank India.

Source : Media Tracking System

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