Working from spacious homes
The Hindu
Indian real estate market is transforming, driven by changing preferences and lifestyles. Demand for larger, more spacious homes is rising due to strong economy, better tech, HNI/UHNI investment, COVID-19, and tax incentives. Creative businesses are turning homes into small offices/studios. Sustainable luxury with eco-friendly features and wellness tech is emerging. IoT tech is fostering remote control of homes. Innovation and growth in real estate sector hold potential.
The Indian real estate market is in the midst of a transformative shift, driven by changing preferences and evolving lifestyles. One notable trend that has emerged is the growing demand for larger and more spacious apartments. This shift has significant implications for the real estate industry and offers new opportunities for both developers and buyers.
The demand for larger homes in India is rising due to several reasons. The country’s strong economy has given people more money to spend, making them want bigger living spaces. Also, new kinds of businesses and better technology have improved people’s ability to buy such homes.
In a related trend, some creative businesses and entrepreneurs are turning spacious houses into small offices or studios. People like photo editors, graphic designers, and others are doing this to save money on renting separate spaces. This clever idea shows how homes can be used for both work and living, especially as more people work from home. It’s a smart way for businesses to adapt and save money during changing times.
Amid the prospect, numerous untapped opportunities are emerging. A pathway that stands out is the rise of sustainable luxury with keen environmental awareness among buyers. This unfolding trend is prompting developers to weave eco-friendly features such as solar panels, energy-efficient appliances, and green roofs into their properties. Additionally, the luxury experience is being elevated through the infusion of wellness technology. This includes air purification systems, circadian lighting to enhance sleep quality and dedicated spaces like yoga rooms and meditation corners that contribute to overall well-being. The surge of IoT technology is also fostering remote control over homes, covering voice-activated commands, automatic lighting adjustments, and temperature controls. Within this dynamic landscape, innovation and transformative growth in the real estate sector hold promising potential.
The writer is CEO, Mantra Group.
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