Research well before going for the custom homes that developers are selling
“We have seen many customers expand the living room space by adjusting the housekeeping area. Larger salons are better after the pandemic, ”said Ananta Singh Raghuvanshi, senior executive director, sales and marketing, Experion Developers.
People are also looking for homes in less crowded outlying areas. The demand for housing in Tier II and III cities has also increased, as people can work from home. After the pandemic, home buyers are also looking for more flexibility in design or homes where they can customize things as needed.
In view of this, the developers also offer customization options where buyers will have some flexibility in terms of payments, flexibility in home design, etc. Let’s take a look at some of the options offered by the developers and how a buyer can make the right choice.
Flexibility in design: Now the WFH is a key factor when buying a home. Home buyers are looking for options that can help them work from home smoothly. They are looking for larger spaces, and developers are experimenting with designs to provide flexibility in the same space without impacting the budget of homebuyers. “The developers offer powder toilet options (only toilet / toilet but no shower) instead of a fully attached toilet to increase the size of the room. They also offer flexible workspace options in the living room and bedroom. Some developers offer “Jodi apartments” where customers can buy two apartments on the same floor and remove the walls to make it one apartment for large families, ”said Anuj Puri, president of Anarock Property Consultants.
There are developers who have replaced the walls with movable aluminum partitions to give buyers the flexibility to use the space according to their needs.
As the focus on health and hygiene dramatically increased after the pandemic, the developers are also offering equipment with this in mind. “Dedicated office spaces, private terraces, integrated disinfection and air filters are customizations provided by the developers, in line with the new standard. To reduce the spread of infections, contactless technologies such as hands-free faucets, automatic flush toilets and automated soap dispensers are other choices on offer, ”said Indrajit Siddhanta, lead partner and head of commercial development, Square Yards, an online property. portal.
Flexible payment plan: The flexibility isn’t just limited to structure and design, but the developers are also providing personalized payment options for homebuyers to support sales. “Real estate agents are taking whatever steps are necessary to ensure that the momentum generated by good buyer sentiment does not weaken. One method is to make shopping easier for customers and provide them with convenient payment alternatives, ”said Mani Rangarajan, group COO, Housing.com, Makaan.com and Proptiger.com.
There are different options available, ranging from paying 30% now and the remainder after possession to paying 5% now and the remainder after possession. A Punjab-based developer has agreed to pay buyers’ rent until the apartment is ready to be taken.
A developer based in the National Capital Region (NCR) offers a payment plan (25:75), which allows consumers to pay 25% of the total value when booking the property and the remainder 75% after in to have taken possession.
Developments traced: More and more developers are offering post-pandemic developments with increased demand in mind. “Customizing apartments is generally difficult and therefore we have seen the demand for mapped out developments increase dramatically. This is clear from recent launches where more land and villa projects have been launched in cities like Bengaluru and NCR. With working from home, people are ready to buy land located away from cities and at an affordable price. The developers are also keen to initiate mapped developments as the working capital cycles are shorter and this helps them launch and complete the project within one to two years, ”said Alok Saraf, Partner and Head of REI , Grant Thornton Bharat.
Plotted developments that are heavily skewed towards established real estate brands have seen good traction in major cities such as Bengaluru, Pune, Mumbai Metropolitan Area (MMR), Gurugram and Hyderabad, with sizes starting from a minimum. from 550 square feet (square feet) to 10,000 square feet, with prices starting as low as ??14 lakh.
“Plots in the range of 1,200 to 2,500 square feet are more in demand, citing starting prices of ??14-16 lakh depending on location up to over ??30 to 50 lakh in the cities mentioned above, ”Siddhanta said.
There are a multitude of options available in the market. Since buying a home is usually one of a person’s most important purchases, you need to do some proper research and then choose the one that best meets your needs. But remember that sometimes customization can result in higher costs.
Never miss a story! Stay connected and informed with Mint. Download our app now !!