What does a homebuyer seek today when it comes to home preference is it investment, luxury living, hospitality services, amenities and facilities, good developer, comfortable budget, sustainable location, or a good neighbourhood and community? If you go by the present scenario, one will tick all boxes to own a place called Home. Today, homeownership is driving the market resulting in increased demand for developments that provide amenities for holistic and sustainable living, accessibility, with more open and green areas being the need of the hour. Buyers are eyeing projects that too by reputed developers that offer multiple features catering to consumer preferences across age groups and interests. On the other hand, the Covid-19 pandemic has also compelled developers to re-evaluate how they use their space not only within the home but also outside the home.

Residential projects at a strategic location that offer all the necessary amenities have become a basic need of everyone living in the metropolises. On the other hand, buyers are choosing projects which offer expansive living areas, strategically located and which offers ready social infrastructure be it shopping, entertainment hubs, educational institutions, medical and healthcare facilities, and improved connectivity to internal roads, highways, upcoming metronetwork, and freeways for a quick getaway. Such living paradise, with innumerable benefits, are offered by only integrated townships and that too in newer micro-markets in central Mumbai and has an abundance of open and green space with water bodies around. 

However, the one trend that has emerged during ongoing lockdowns is the growing demand for customers to have amenities in their projects. Lockdowns have constantly restricted the movement of people outside their homes and hence having basic amenities in their vicinity is something that they look forward to when buying a home. This shift of necessity has given rise to growing residential real estate demand driven by amenities. 

Townships provide an abundance of recreational infrastructures like kids’ parks, jogging trails, gardens, and podiums. These new-age projects are equipped with every kind of facility; residents can find shops, temples, schools, medical centers, etc. Today, developers are offering township developments which offer a good mix of recreational and commercial, from residential to retail outlets targeting the needs of the home seekers. Secondly, what attracts the millennials, first time home buyers, nuclear families to own a home in integrated townships is the focus on infrastructure at large. So, it is more that you are living close to your child’s school, community centre, shops and more and avoid car trips, so this means sustainable living and more time to be spent with the ones you love. Also, improved living lifestyle for family in a sustainable development away from hustle bustle of the city life, away from air and noise pollution.

The lush and plush design of the townships is a combination of commercial complexes, green areas, and luxurious residential property are basic ticks of an integrated township. Along with these features, there are many other benefits of living in these projects. These being  • Advanced social and civic infrastructure for better-quality living• Work-life balance with walk to work set-ups offering proximity to offices hubs surrounding the townships at important micro-markets especially central Mumbai• Townships provide a better scope when it comes to return-on-investments• Townships offer improved security and safety due to 24×7 surveillance systems like cameras installed at all the junctions along with security guards for maximum safety.• Townships are self-sustained that enhances the community spirit by way of living together

These integrated townships, located in newer and upcoming micro-markets like Andheri East, Chembur, Chandivali, Bhandup, Goregaon, Malad, Dahisar, Mulund are gaining more popularity since these locations have an expanse of open and green spaces. Also, developments on offer here are at affordable price points with higher appreciation potential with added infrastructure and improving connectivity around the townships. An improved lifestyle, better connectivity, and proximity to all prime locations make these micro-markets the most sought-after living destinations of Mumbai.  

The emergence of affordable and convenient housing is another positive trend that is very much prevalent in the industry today. The apartments priced comfortably offer buyers a decent living area ranging from 350 – 400 sq ft for 1 BHK to 525 -600 sq ft for a 2 BHK priced between approx. Rs 1.25 crore to 1.65 crores respectively. All the new launches in 2021 have given impetus to budget housing with an increased inventory of smaller 1, 2 BHK in these upcoming micro-markets and attracting the working class. So, what makes these homes available in upcoming micro-markets? It’s the increased affordability for a decent space for a family, a prime locale, and packed with multiple amenities and facilities. 

Today, more and more amenities-driven projects at comfortable price points are mushrooming in these upcoming micro-markets that provide them a lifetime opportunity to live a lifestyle, that too in a buzzing micro-market within their price bracket.     

With precisely spacious homes, high-grade infrastructure, and shared facilities make the investment cost-effective. All these features of amenities-driven projects have raised the housing demand in Mumbai and, budget homes have proved to be a successful chapter of the real estate story in the pandemic era.

Manju Yagnik, is Vice Chairperson, Nahar Group and Senior Vice President, NAREDCO, Maharashtra.

Note: the views and opinion expressed in this article solely belongs to the author.

Also Read: Model Tenancy Act The RERA Of Rental Market

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By Varun Singh

The central government’s announcement of allowing Covid-19 vaccination will be made available for all citizens above the age of 18 years from May 1 onwards, has given a new hope to the construction industry.

The much-awaited announcement came when India has been recording a relentless surge of over 200,000 cases of Covid-19 for the past five days.

According to experts from the construction industry, the move will boost the construction activities and address the issue of reverse migration of labourers to some extent.

Below is what doyens of the construction industry got to say on the move and how it will benefit the real estate industry.

Ashok Mohanani – President, NAREDCO Maharashtra
“After the record spike in Covid-19 cases, the next phase of Covid-19 vaccination to those above 18 years of age is a great move by the Government. It will boost the construction activities as it will help the labourers to get vaccinated at the earliest. We hope that the vaccination drive will be expedited further, mitigating the risk factor. We had requested the Government to allow the vaccination drive for labourers between the age-group of 20-45 years as most of the labourers fall in that age category. It will also address the issue of reverse migration as after vaccination, the labourers will feel themselves safe. We have made the Antigen test mandatory for all the migrant workers as per the Government guidelines till they get vaccinated. Labourers are the most vital and integral part of real estate development and taking utmost care of them is our paramount responsibility. We will closely work with all the NAREDCO members to get all of the labourers vaccinated on priority.”

Deepak Goradia, President, CREDAI MCHI
“We welcome the government’s decision to allow vaccination for individuals who are above the age of 18. This will enable developers to vaccinate construction workers and will also help in enhancing their confidence, especially considering other strict safety measures and amenities undertaken at the sites. They are the real nation builders

Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Hon. Secretary, CREDAI MCHI
“The decision to allow vaccination to everyone above 18 years of age is a welcome move by the Government. The new strain of the virus is causing more damage to the younger generation of the population. The move will also help the construction sector in a big way as it will help vaccinate the construction workers who are the real nation builders. We had written to the Government to grant permission to conduct the vaccination for the labourers on priority as the earlier GOI directive only permitted vaccination above 45 years of age. Now, we look forward to getting the labourers vaccinated at the earliest which will streamline the construction activities and help build the dream homes of the people of India.”

Rohit Poddar, MD, Poddar Housing and Development LTD
“With the second wave of mutated COVID 19, India has become the second largest country in term of active cases. Majority of Indian population today is the working class which is 25 to 45. With senior citizens receiving vaccines to combat the virus and children with high immune systems warding off the infection, the working class is overworked and overburdened in these challenging times. The vaccination drive for 18 years and above would aid in reducing the virus’s lethal effects on the working-class population. The results of which would largely help in creating a vaccinated environment to stabilize the footfall across sectors and remobilize the economy. While real estate is still recovering with the first wave with the existing precautionary measures, the rising lethal active cases have shaken the demand towards a downward trajectory and it is only the vaccination coupled with the precautionary measures that could push the sector to perform better this year.”

Overall all the industry experts believe that the vaccine will help the construction activity, as the workers on site can now get the vaccines.

Also Read: Sunny Leone Buys Andheri Flat For Rs 16 Crore

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By Varun Singh

Many parents feel its better to keep their kids at home than send them to school this year.

Even if it means that the kid has to lose a year, most parents do not have a problem with it.

The reason is COVID 19 and its spread. Most parents aren’t sure whether at schools their kids will be safe.

It is not just schools, the entire commute from home to school, and the return journey, everything has worried parents.

Taarika Khedekar, a PR Professional, has decided the she will not send her child to school till Diwali.

She says, “I would personally not send my kid to school as he is really small and does not understand the importance or use of masks. His online school has already begun which is going fine so far despite it being hectic for us parents as we need to juggle between work, housework, and school work. I may not send him until Diwali if the situation doesn’t improve drastically.”

Many parents say they won’t send their kids till the time a vaccine isn’t found for the disease.

Mangal Hanwate a single mom says, “My parents and I have taken a stand that we won’t send our children to school. We do not mind losing a year, for us the kids are important. We won’t send them till the vaccine is found and administered to my twin daughters.”

There are many parents like Hanwate who have decide to keep their children at home, let them study via online medium rather than sending them to schools.

Anita (name changed) is a grandmother of two and has asked her children to not send her grand children to school this year.

“Both my grandchildren – one in primary grade and one in ninth grade attend schools in Thane and King Circle. Looking at current increment in cases, I am not convinced to send them back to their campus after it opens, even though they loose out one year of their educational stint,” she said.

Like many parents even she is waiting for a vaccine to come and post that she shall take a call. She says, “There is absolutely no way that I will be sending my children to school until there is a proven vaccine for COVID-19. There is no way I would ever put my child in danger like that when it can most definitely be avoided. Both the school has best teachers’ and administrators, but they might struggle with keeping the school as clean and sanitized as it needed to be.”

According to a report, Maharashtra government wanted schools to start in June, wherever possible, with proper healthcare.

Post which, many parents decided that they won’t sent their wards to school this year, till there’s some solution to the Coronavirus.

Also Read: Maids ask, will employers show their COVID reports?

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