The real estate industry stakeholders are debating over the design changes and other functional changes in the housing projects after Coronavirus. An impression is gaining ground that the developers have the realization that the world has changed due to pandemic and they need to alter to fit into the buyers’ needs. An online poll by Track2Realty nevertheless finds that the industry is off the mark when it comes to read the pulse of the buyers. The buyers are not looking for knee jerk design changes but housing to have long term functional changes.
What changes home buyers want in projects after Coronavirus? They have never been consulted before and probably they won’t be consulted even after the COVID-19. This raises a fundamental question as to what extent the pandemic has forced the developers to look for functional usage of the apartments from the standpoint of buyers’ wants & needs. The debate has hence gained ground not only in India but across the world.
Track2Realty asked the home buyers’ to define their wish list in new houses. Are they really looking to go for urban sprawling with standalone villas or would still opt for the city centers with design changes that could offer better livability. The Top 10 design and functional changes that the Indians ask for are:
Closer to workplace no longer prime determinant
Central Business Districts (CBDSs) will no longer command as high premium as it used to. More than eight out of ten, 82% Indians are ready to travel some distance if only the quality of life is better offered at a locations that is at a travelling distance. Fear factor with congested locations is a big deterrent for the future home buyers.
Buyers want separate Study Room
Nearly eight out of ten, as many as 78%, home buyers feel a separate study room is a must in new world post Coronavirus, if Work From Home has to be a feasible idea. Most of them, as many as 70%, are even ready to sacrifice with the size of the bed rooms & living room to make sure that the Carpet Area is not increased and the cost of the apartment does not escalate.
Business Centers in club is a necessity
What was erstwhile seen as a luxury meant for only the costly apartments is today in the necessity wish list of two third, 68% of the home buyers. They demand that a separate business center has to be an integral part of the housing apartments where they can not only book for work & conferencing but can also entertain the business guests. Clubs within the societies need to have lounges as well, and 42% are even ready for a paid service for the same.
Villas at periphery locations is wishful yet not logistical
More than half the home buyers, as many as 54%, feel that having a villa at the outskirts of the city rather than an apartment at the city center is a fancy idea but not logistical. For these home buyers, other than travelling challenges since a complete Work From Home is not possible, economic considerations are as much important as the physical infrastructure as well as the social infrastructure. They feel periphery locations fail miserable on the scale of physical and social infrastructure. Acute loneliness and depression has also been cited by as many as 60% home buyers the reason why they would still prefer an apartment living than a standalone house.
Wellness as a concept to gain ground
Wellness as a concept was never the sales mantra of Indian housing by and large. But Track2Realty finds that the Coronavirus pandemic has changed the thought process of the Indians to the extent that 64% buyers are ready to compromise with some of the amenities to get wellness concept interwoven into the housing project. Nature connect would attract as many as 80% of the home buyers in the post COVID-19 world.
Children activities beyond play area
The future home buyers won’t be impressed with the children play area having facilities like skating rink, badminton court, tennis court etc. Their idea of children activities, for as many as 80%, is way beyond that to demand hobby and extra-curricular activities within the housing complex itself. The safety aspect of the children is no more related to law & order but also health & hygiene moving forward.
Facilities beyond basic amenities
More than half the home buyers, as many as 52%, also demand full scale retail facilities at the housing projects, including cafeteria and restaurants. Four out of ten even expect the developers to introduce facilities for concierge services within the complex. 60% expect the houses to introduce no touch smart home automation and no touch entry & exit elevator. Focus is more on automation than physical presence of guards.
Social housing acceptance
Social housing as a concept has not gained ground in this part of the world. Indians have traditionally relied on domestic help, driver etc to travel to housing complexes from nearby unhygienic clusters. But the lockdown and absence of these essentials services have forced nearly half the Indians, 48% to be precise, to accept the need of social housing within the complexes for support staff. More upscale the society more the number of buyers are asking for it.
More breathable spaces within the apartment
The Indian urban cities are known for cramped apartments with less than breathable spaces. The Coronavirus pandemic has just changed the mindset of the home buyers. They are hence, 78% of them, looking for more breathable spaces within the apartment, like balconies and vertical gardens. They are rather open to the idea of compromising a bit of carpet area for the same.
No additional Super Area loading
Last, but not the least, a vast majority of Indians surveyed in the poll, as many as 84%, believe these functional changes and design elements do not require to shell out more money in the form of additional Super Built-Up Area. They rather believe the time has come for innovative design and architecture where cutting the corner means giving way to non-usable area, for instance large entrance lobbies.
Track2Realty is an independent media group managed by a consortium of journalists. Starting as the first e-newspaper in the Indian real estate sector in 2011, the group has today evolved as a think-tank on the sector with specialized research reports and rating & ranking. We are editorially independent and free from commercial bias and/or influenced by investors or shareholders. Our editorial team has no clash of interest in practicing high quality journalism that is free, frank & fearless.
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