What Drives The Growth Of Theme-Based Housing?

Real Estate In India

Growing competition and rising aspiration has led to more sophisticated real estate development in India. With increased globalization, Indian consumers are rapidly being exposed to global standards and desire to live a luxurious life. This is acting as a cue for developers to develop classier projects.

Enviable location, spacious living spaces and pleasing architectural design are the basic expectation of modern home buyers in the prime residential category. With architecture becoming an important criterion of choosing a property, urbane residences have emerged as a successful strategy in the Indian real estate domain. To differentiate their residential products, add a unique dimension and meet the growing aspirational demand of buyers, developers are now coming up with theme-based housing projects in various cities of India.

They are launching these projects in and around metropolitan regions such as Delhi NCR, Mumbai, Bangalore, Chennai, Pune, etc., primarily due to their higher concentration of corporate employees with high disposable incomes. The buyers of luxury theme-based projects are niche clients, as these projects target a specific category of clienteles such as HNIs and NRIs, and are customised to meet their demands.

Taking Luxury To The Next Level

Parks, swimming pools and health clubs and many other features now form the basis of any residential development, and are no longer considered luxurious. Theme-based projects are more elegant; they are developed on various themes such as international culture, geography, IT, sports, children and senior living, among others. On the architectural front, Egyptian, Arabic, Spanish, Mediterranean, Roman and Moroccan themes are some of those being imprinted on such housing projects at the design level. Sports Cities and Disney-inspired residential projects are among the most popular currently. There is no doubt that theme-based projects help attract both developers and end buyers as like-minded people of same profession, when compared to normal projects.
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Asked Sep 30, 2016

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