For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Theme-based Projects Gaining Prominence In Tier II-III Cities

By Raman Gupta-director, Gbp Group
|

Homebuyer looking to derive worldly pleasures and enchanting views within the four walls of their homes prefer theme-based projects. The trend which started in major cities or the peripheral areas of metros has now reached Tier II and III cities also. The acceptance of the project solely depends on the theme, and thus it has to be carefully decided. Magarpatta City in Pune is one such example of success, which also won accolades for eco-friendly features and pollution free environment.

The City has also been mentioned in the Limca Book of Records for having the largest solar water heating system. One can recall themes like Egyptian for a project in Gurugram or the projects launched with European villas or Arabic architecture themes.

Theme-based Projects Gaining Prominence In Tier II-III Cities
 

Factors driving growth for such projects are rising aspirations of buyers and growing competition among established real estate players. However, the theme needs to have a wider audience for the project to be successful; it should not only be based on a niche but should also appeal to consumers across market segments. These attractive themes work wonders for the project; they not only catch eyeballs for quick recognition but also lead to good sales. These projects work for the buyers who like to live life king-size and consider their abode as the reflection of their taste and lifestyle. Not only Indian buyers, having such themes makes the project lucrative for HNIs and expatriates also.

The rise of demand for theme project in tier II and III cities is also because many people have migrated to smaller towns after spending considerable time in major cities. These people have seen the transformation of simple abodes into awe-inspiring homes because of their unique surroundings. Being an end-user driven market, the demand for a sophisticated living has picked up faster in 2/3 cities due to a host of reasons like the government's industrial and infrastructure push, corporate bodies seeking commercial hubs with lower price points and skilled professionals that have decided to stay back. Tier-II and Tier-III cities are being revamped with government support and all set to emerge as potential employment hubs. Such theme-based projects are also leading to developers entering into joint ventures with international architects, hospitality groups, designers for creating a replica of foreign cultures such as European, Egyptian, Moroccon, etc.

 

Tier II-III markets are some of the best options for theme-based projects in North India due to their low-price points, increased green cover and peaceful ambience. Theme-based projects promise appreciation with time and have capabilities to raise the bar for the overall realty market of a city. These projects are here to stay as people have started showing increased inclination to thoughtfully designed spaces addressing all of their needs within the premises.

Read more about: real estate
Story first published: Friday, November 6, 2020, 8:56 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X