Mumbai Charms Prospective Homebuyers With Space & Amenities
Apart from the right property size and in budget, neighbourhood, too, is an equal driving force for a home buyer to invest in a property. Hence, the new home selling mantra seems to be exclusivity and space given that prospective buyers now prefer low density projects. The more the space, the more exclusive the project becomes.
Across the country, many developers are now coming up with projects that bank on the low density feature. It gives home buyers more space to live and enjoy. But what about places that are too popular or cities that are too crowded? Raheja Imperia is one such project. “In South Mumbai, fondly called SoBo, SRA, Cess, cluster, public car parking and greenfield are the only developments that one typically gets to choose from. A greenfield project comes with its zonal FSI and is purely for free sale while the rest mostly have an FSI of 3 or 4, with a large rehab component. So, the average number of people staying in one acre of land for SRA, Cess, PPL, Cluster projects is almost two or three times than that of the Greenfield project. With such a high population density, the per head amenity space also decreases considerably, and you end up sharing your world with many others, craving privacy even though you're paying such a massive premium to buy an apartment in one of the best locations of the city. Imperia is constructed on a virgin plot, implying that there would be absolute privacy and unmatched luxury,” says Ashish Raheja, who spearheads Raheja Universal.
Besides, demarcated zones in the project for leisure walks, meditation, banquet gardens, gyms, central green landscape, senior citizens zone, jogging tracks, Jacuzzi, sky deck and infinity pool are other offerings. In a city like Mumbai, there is no luxury compared to that of space.
Sky City by Oberoi is another such offering. The firm is wooing prospective buyers with its wealth of space. Only 10 per cent of the space is covered by the 60-storey towers and therefore, buyers have the treat of spacious surroundings. The project boasts 25 acres of architectural revelation. “The project offers largest continuous amenity space in Mumbai with all possible amenities you can dream of, with a central open space that is equivalent to a stadium. An amalgamation of trends from across the globe combined with the tranquillity of nature in one of the greenest neighbourhoods of Mumbai,” says Rochelle Chatterjee, Vice President, Residential Sales, Oberoi Realty.
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It is also observed that a large number of buyers who have a decent budget and a taste of space and design prefer areas right outside the city. In case of the financial capital, Navi Mumbai, Thane or even Pune are the choices for investing as these are light on the pocket and also, promises more than just a pin code value. However, if you live and work in Mumbai and can afford a home in the city, moving away may not be a good plan. Thus, branded developers are coming up with ways to strike a chord with the modern day buyer. Check out many more projects on PropTiger.com.
Does space sell?
The concept of space sells really well. But, considering that real estate has registered slow growth over the last few years, large spacious home were mostly vacant. Meanwhile, industry insiders felt that smaller units moved quickly in the market because comparatively, the price tag was smaller. Developers seem to have taken the cue. There is more focus on making livable spaces with access to amenities — be it a park to stroll or a pool or a meditation centre to spend some worthwhile me-time. This makes sure that your house is not too big to weigh down your buying capacity and the amenities are shared making it lighter on your pocket.
Also Read: Why Small Homes Are Getting Bigger Appeal in India