The Coronavirus has definitely taught everyone to live and function as per the new normal. Mindsets of consumers are rapidly changing, and this trend is quite apparent in the residential segment. People living in rental accommodations, have started looking for properties that fit their budgets, and are well-maintained in terms of hygiene and cleanliness. These months of lockdown have been difficult for the tenants staying and working in their confined spaces, they have utilised this time in exploring properties on digital platforms, taken virtual tours in place of site visits to get a real-time experience.
Developers have analysed this trend of healthy lifestyle and have shifted their interests towards creating projects that fulfill the changing needs of new-age buyers in post Corona times. Projects like integrated townships are in huge demand, due to the facilities of commercial complexes, essential stores all located within the society premises.
Apart from this, homebuyers have received support from the government as well in terms of reduced repo rates, CLSS announcement for affordable housing; all of these measures will encourage more and more investors and buyers to put their funds in the real estate market. Developers are all set to embrace the changing needs and mind-sets of buyers and are working towards customizing their projects.
Says Prateek Mittal, Executive Director, Sushma Group, "COVID 19 has made people realize the importance of living in a pollution free and healthy environment. Now the homebuyers looking for buying a property would be wanting to invest in societies that provide healthy amenities. Some of these may include increased green cover, basement Carbon monoxide sensor, Electric Car Charging Point etc. Sports and fitness activities will also form an important part of the daily lifestyle to nurture strong immunity.
Eating habits will also undergo a transformation for a healthy lifestyle, in-house farming concept to produce organically edible products will be adopted by conscious communities. Zero discharge development for controlling and processing the waste generated will be in huge demand for betterment of the environment. Integrated townships would become the most preferred choice for many due to its convenience and accessibility to the necessities within one premises," Mittal states.
Mohit Goel, CEO, Omaxe Limited says that in the post-COVID world, the preference of homebuyers will veer towards facilities in a home that address his health and safety concerns and also provide space for the office-going member of the family to conveniently work from home.
"Keeping in tune with the 'new normal', we at Omaxe have been quick in responding to this demand. In our projects in Ludhiana, New Chandigarh and Lucknow, we may soon come out with residential offerings comprising dedicated office space at home, large balconies/personal terrace, built-in sanitization and air filters, automation to name a few. We believe there is sufficient disposable income in these cities for such curated products," Mr. Goel observes.
According to Raman Gupta, Director- Branding & Construction, GBP Group after the advent of Corona, homebuyers have prioritised cleanliness and healthy surroundings in their home- hunting.
"Ready to move in homes, integrated townships and units with dedicated office space are some of the other popular residential choices in demand. Apart from all of this, some of the other contemporary amenities in demand by homebuyers include Yoga and meditation rooms for wholesome wellness. Developers have planned to keep a maintenance team in place for managing the safety and cleanliness in the premises," he states.