Vaastu the biggest influencer for homebuyers
Vaastu has come out as the biggest influencer for home buyers when they make their decision to purchase. This trend is visible even in the IT hubs says a recently released report.
By Varun Singh
Vaastu (the traditional Indian science of architecture) is what most home buyers consider the important factor when they are making a decision for purchase of a new house.
An insight published by Mahindra Lifespace Developers Limited (MLDL) has put forth some interesting factors.
The findings suggest that even tech-savvy millennials continue to believe in and prioritize Indian tradition and sciences, like vaastu when it comes to the biggest investment of a lifetime – buying a home.
Home buyers in Hyderabad are most inclined to factor Vaastu into their home purchases, with 82% respondents considering it to be the biggest influencing factor, as against the national average of 40%.
Chennai ranks a distant second on this aspect along with Bengaluru, with both at 47%.
The most tech-savvy cities in the country appear to also be the most culturally rooted, where Vaastu is concerned.
While, Mumbai and Pune homebuyers appeared mostly indifferent to Vaastu, as only 11% and 17% homebuyers in these cities preferred Vaastu over other factors, respectively.
The finding also say that, four out of every five prospective home buyers tend to evaluate the Vaastu of a property before making a purchase.
While Vaastu remains a top priority for house hunters, a dedicated prayer room is the second most critical element, with 39% of respondents considering it important when shortlisting a property.
While home buyers in south Indian cities demonstrate considerable belief in Vaastu, those in northern cities value spaciousness and functional design; and consider balcony spaces as a top decision-making influence.
Among the least important factors for home buyers is the presence of storage lofts in rooms, the kitchen and utility areas. On average, nationally, only 6% people preferred storage lofts in bedrooms; only 15% of respondents sought storage lofts in the kitchen; and the utility area was preferred by only 14% respondents; per the study.
Sunil Sharma, Chief Customer Officer, Mahindra Lifespaces, said, “Location, cost and brand value are vital considerations for selecting homes across India. But, as our study reveals, Vaastu is among the biggest influencers of purchase decisions. Vaastu-compliant homes are widely believed to render positivity and success; and consumers seem to hold this belief close to their hearts when it comes to big-ticket purchases such as homes.”
· Nationally, Vaastu, followed by prayer room and balcony are the top 3 factors considered for apartment layout.
· 47% of Chennai homebuyers prefer a dedicated area for a prayer room, whereas only 32% in Gurugram want the same.
· 43% of homebuyers in Hyderabad also prefer an exclusive prayer room within their apartments.
· Mumbai and Pune homebuyers appeared mostly indifferent to Vaastu, as only 11% and 17% homebuyers in these cities preferred Vaastu over other factors, respectively.
· Only 16% of Mumbai homebuyers perceive balconies as a consideration factor while making their purchase decision.
· Natural light and ventilation were key consideration factors for Mumbai (37%) and Pune (43%) homebuyers.