Theme-based housing in vogue in Indian Residential Realty

Theme-based housing in vogue in Indian Residential Realty

Theme-based housing in vogue in Indian Residential Realty

Fashion has crept-in in every aspect of our lives and so has in realty sector. As the residential realty sector booms in India, developers and builders are forming new selling strategies to stand out. Theme-based housing is a new marketing gimmick taken up by real estate players to keep up to the evolving tastes of customers. Developers are now cooperating with foreign interior designers, to g ive homes inspired by Spanish, Moroccan, Mediterranean and Greek look and interiors.

This trend was brought-in by India’s well-traveled property buyers. The home concepts suggested by them set a new benchmark in Indian residential sector. Having a theme helps in creating differentiation in a market that has been loaded with monotonous launches of residential projects. This strategy mainly caters to a niche audience whose lifestyle aspirations are beyond that of clubhouses, swimming pools or health clubs. The takers of these houses are those who want to live life king-size and those are into luxurious lifestyle and those who consider the house to be a reflection of their taste and lifestyle. The HNIs and expatriates have seen to be investing in these projects.

Developers working on these projects are now concentrating on the Metros, where there is a concentration of working population from the corporate sector with larger disposable incomes. Developers are also coming up with variant themes other than cultural and geographically related themes. They are coming up with sport cities or IT centric projects exclusively for the sports enthusiasts and IT professionals. Sports cities are townships conceived and executed on a sports-centric theme and lifestyle concept. Experts believe that it helps both developer and end buyers as the project attracts like-minded people of same profession much quicker than what any other normal projects do.

Developers are planning to extend the theme based projects to mid segment group now. They are planning to provide theme based exterior look to the mid-segment projects, thus adjusting it in the price bracket of mid segment group. More than the architecture, in built amenities and external looks, the positioning and theme of the project attract more buyers.

Last Updated: Thu Aug 09 2012

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