Branded homes are gaining prominence in India
Industry Experts say that branded homes are gaining prominence in India as they help developers differentiate their offerings in a crowded market and also bring an element of trust and quality to the sector.
The real estate sector has been seeing a slump in growth for quite some time now. However, while that is the case with the sector in general, there is at least one segment which seems to be bucking the trend currently- branded homes!
According to a JLL India report, branded homes are luxurious apartments combined with hospitality services provided by the likes of HYATT, Four Seasons, Le Meridian, and JW Marriott- renowned globally for their superior hospitality services, while some other apartments are joint ventures with well-known fashion houses like Armani and Swarovski, which have designed the interiors of these plush homes.
Apart from the global developers and service providers, the entry of Indian corporate majors, such as Tata and the Godrej group in real estate has also helped the sector win back the consumers’ trust over the last few years. “A buyer of branded luxury home can expect to pay a premium of anything between 25% and 75% more then what one would pay for an unbranded luxury property in the same location,” said Anuj Puri, JLL India.
Industry experts opine that branded homes are quickly gaining prominence in India for the simple reason that they are helping developers differentiate their offerings in a crowded market and are also adding the elements of trust and quality to the sector, which had of late started losing credibility in the wake of delayed projects and shoddy construction work, mostly by unscrupulous developers and fly-by-night operators.
Realty major DLF has also roped in Canada-based Arcop Group for the architecture of its project, The Ultima, in Gurgaon, while the landscaping is by the award-winning Paul Friedberg. “With luxury living reaching new heights, our flagship project at DLF’s Gardencity, ‘The Ultima’, offers ultra-modern and luxurious homes. Located in Sector 81, Gurgaon, this landmark development has finest home specifications and world-class amenities. The lavish VRV air-conditioned homes (3 & 4 BHK+ Utility room) include well-equipped modular kitchen and pre-fitted wardrobes in bedrooms. Designed by Arcop, ‘The Ultima’ has efficiently designed internal layout plans to make the most of the living spaces and to amplify natural light. In fact, most of the bedrooms, living and dining room balconies face the internal greens. ‘The Ultima’ offers enviable recreational as well as sports facilities including club, swimming pool, tennis courts and basketball courts,” said, Monica Kalvani, AVP (Sales and Marketing) of DLF.
Kalvani further added, “Grand balconies overlooking spectacular greenery, lush open landscaping and water features create a truly opulent and tranquil ambience at ‘The Ultima’.”
“With tough competition in the luxurious segment, real estate leaders are focusing on offering a wholesome quality in life. Along with providing them with luxurious facilities, a lot of attention is also been invested in post handing over of the apartments such as security & safety issues, community interaction programs and events. For M3M – Golf Estate Project, space is definitely an important feature in luxury segments. We offer first in NCR Triple height lobby (30 feet) to welcome you with openness and grandness of living in a luxurious apartment. Also, to ensure a grand and green view, no low floor apartments are present and the residential parking is all in the basement. The project is 110% green and it offers a great view to the residents,” said M3M’s Spokesperson.
Similarly, Gurgaon-based Homestead’s Boutique Branded Residences (BBR) has modelled its apartments by taking traits of leading sports icons such as Michael Schumacher for its Michael Schumacher World Tower.
“Our Boutique Branded Residences not only attracts HNIs but NRIs as well because they are internationally exposed and look forward to international class of residences and ambience. The concept of BRR stands firm on the belief that accentuated global lifestyles enable people to treasure every moment of their lives,” Rajesh K Gouri, VP of Homestead, said.