Needless to say, our lifestyles have undergone a transformation since the 70s, 80s and 90s. The new millennium which is already 2 decades old has witnessed a paradigm shift in residential habits of people. Western concepts have greatly influenced the new offerings in residential properties. Apart from all the premium construction materials and fitments, the host of amenities for both, utility, recreation as well as for entertainment, we now see a significant technology component in development of residential properties. To keep pace with the ever growing demands of home buyers against the backdrop of the evolving lifestyles, property developers are confronted with the challengeof providing that what’s state-of-the-art. The real estate space has become ever more competitive. The players who have survived are only those developers with the financial stability to undertake projects demanding a high level of executional infrastructure and competence with a vision of ever growing lifestyle demands. The Malpani Group is onesuchproperty developing enterprise that has recognized and understood what todays home buyer expects from a new home. So, what do home buyers really want?
The 90s were the turning point with the IT and software revolution bringing in a tsunami of prosperity upgrading the lifestyles of the middle class. Many worked on contract overseas giving them a taste of the lifestyle in the western countries and the developed world. It exposed our middle class to global living standards as never before. Looking at their counterparts in the west, our young professionals soon adapted to the high living standards of the west. The largest section of our professionals moved to the United States on contract at a time when the American economy was booming. Post 9/11 much changed and the sudden loss of incomes due to a recession compelled most to move back. Many of those whose contracts remained in place also considered making contingencies in anticipation. There also were economic and cultural reasons for which many moved back to India at the time. This section of the foreign returnees had already become used to the lifestyle of the west which raised the bar of housing standards in our country. The NRI population became an important customer group for property developers because they had both, the need as well as the finances. Developers were compelled to provide the facilities, comforts and amenities to suit the lifestyles of those coming back from the west.
Housing complexes transformed as never before. Swimming pools and gymnasiums became common place. Housing complexes became self-contained townships with a host of facilities for sports, recreation and entertainment. Amenities became the selling point. Clubhouse with a fully functional restaurant has become a common feature. Some of the complexes also provide a mini golf course. Taking a peek into the lifestyles of people today, there has been a strong western influence. Health and fitness has become an important concern and some fitness activity has become an integral part of people’s lives. It has become an imperative to provide adequate state-of-the-art facilities in modern housing complexes. Over the times, family sizes too have shrunk and parents have also become more aware and conscious about child development. This has given rise to greater parental engagement in joint activity with their children. These activities may include swimming, basketball, tennis, cycling and so on.
Moving indoors, the kitchen is no longer the domain of the housewife. Men and women alike spend a lot of time in the kitchen in the present times. Cooking has become a passion amongst many who pay careful attention to doing up their kitchens. Today modular kitchen cabinets are a basic requirement with chimneys and the works. Provision for special kitchen equipment such as dish washers and cooking ranges with ovens is a must. Likewise, the washrooms need to have the designer touch. Unlike in the past, the dry and wet areas need to be separated using screens. Sinks need to have counters and toilet bowls are often wall mounted. Exhaust fans are provided to ensure the necessary circulation of air. There is a vast variety of designer washroom fixtures that your developer would provide you with. The floorings and the walls of the entire apartment use premium materials. The general layout ensures the bedrooms have attached washrooms to ensure privacy. Common washrooms are also provided to cater to visitors and guests.
Lifestyles have come a long way. What was once seen as a luxury has now become a necessity with the ever growing customer demands.Taking into consideration the changing trends, developers provide all that meet global living standards. This has minimized the need for customization although there remains flexibility up to a certain degree of customization. Lifestyles are ever changing and the change is rapid. The home buyer today knows exactly what he wants and market has no choice but to adapt to suit home buyers. It’s a buyer’s market and it’s here to stay.