New realty projects must go above and beyond to stand out
Realty+ in conversation with Abhishek Bharwaj, CMO Shristi Infrastructure Development Corporation Ltd, learns why developers are moving away from location and looking at providing the maximum lifestyle amenities to entice customers.
What holds more value in real estate today?
The real estate industry has reached a time of near-constant residential development in the metro and sub-urban cities. Having said that, new realty projects must go above and beyond to stand out from the pack. Till one point of time, location used to be the sole USP of a project, however, with oodles of developers thronging in metros and tier II and III cities, location alone has ceased to be the reason that would entice a prospect. Developers are now aligning themselves with a plethora of amenities available at projects. This goes beyond curating just the basic amenities like power back-up, security and daily needs store and taking a larger leap towards commissioning theme based amenities like landscaped and sculpted garden, Zen garden, cabana and gazebo, rooftop pool etc.
A host of realty projects are now marketed as a cornerstone of the living experience. Applied to real estate, this is a broad concept that can include any feature that is attractive to a project’s chosen market and add value to the location and land.
What are developers looking at providing- Amenities or Location?
From the developers’ perspective, considering man made amenities, we usually mean a recreational, hospitality, leisure, or social facility that is developed as part of the core project such as sports and fitness facility, restaurant and lounge or a full facility private athletic club, school and heath care facilities. Such man-made amenities complement the core real estate project. Commercial or residential property development can leverage amenities to maximize the attractiveness of the project to its target market. Nevertheless, there are potential pitfalls along the way.
ShristinagarAsansol has been strategically developed keeping the thriving location of Asansol in mind. One of the fastest growing cities in Eastern India, Asansol is the next big destination among tier II and III cities for housing and infrastructure projects. At ShristinagarAsansol, the township development has been done with a view to providing holistic infrastructure. The Sentrum mall is a happening shopping centre located within the township premises along with The Odyssey club and sprawling tract of open space for children to play. At the same time, there’s Srihari Global School and a multi-speciality hospital to cater to the educational and health care requirements of people not only within the township but from outside as well.