Rising Demand for Branded Homes

Branded homes are gaining prominence in India with developers collaborating with established designers, hospitality chains or fashion brands along with bringing an element of trust and quality to the residential real estate sector. These residential properties have superlative amenities and offer resort-like living experience. Branded residence is a form of residential property which is associated with another high-class luxury brands that can offer excellent amenities to its owners. These can include concierge services, spa and wellness centers, gymnasiums, themed interiors, etc. In addition to the premier amenities, these residences also offer a sense of security to its high-net-worth buyers, and the joy of hassle-free ownership.

A report by Anarock Property Consultants says, that the top 7 cities saw 73,930 units launched by branded players while 65,550 units by non-branded players in the first half of 2019. According to Knight Frank’s latest global publication, Branded Residences Report: 2019, “Branded residences are attracting significant premiums in Asian cities, with price differentials varying by up to 132 per cent as compared to generic luxury developments”. Branded residences characterized by themes such as high fashion and luxury hospitality have made significant inroads in cities like Mumbai, Pune, Bengaluru and the National Capital Region. Characterized by themes such as high fashion and luxury hospitality, such residences cater to the aspirations of the home-buyers who look far beyond just practical use of residential property. Such home-buyers look for unparalleled exclusivity and personalized amenities and services. Buyers today are fastidious about the location, neighborhood and gentry hence branded residences have definitely carved a niche for themselves in India and will continue to have rising demand.

What do Branded Residences offer?

Branded Residences are basically luxury residential properties that have a brand name attached to them. Such homes are launched under the banner of international luxury hospitality or lifestyle brands and cater to the exclusive niche category of buyers. These homes offer a unique lifestyle of global standards with hospitality services from the finest brands. The residences are designed keeping in mind lavish, customized interiors of international standards with a host of advantages like designer labels, 24-hour security service, private elevators, swimming pools, theater, Jacuzzi and integrated entertainment systems. Below are some of the features available in the branded residences that ensure an exclusive lifestyle:

• Prime location
• Brand signature
• Unique interior designs
• International Amenities
• Theme based architecture
• Recreational facilities
• Hi-tech surveillance
• Valet Parking

Many developers in Gurgaon too are offering the above mentioned premium residential amenities. Ambience Creacions, Sector 22 is an upcoming premium ultra-luxury residential project in Gurgaon. The developers have collaborated with the Leela Ambience group. The project comes with several amenities and conveniences including gymnasium, swimming pool, play area for kids, clubhouse, multipurpose room, sports facilities, party lawn, intercom facilities and 24×7 security system. Concierge services will be provided in double height entrance lounges for convenience and comfort. The 2/3/4 BHK apartments and penthouses are well spaced out along with a special servant room facility. All apartments are ready to move in with air conditioners, bathroom fittings, wardrobes and kitchen units. Kitchen appliances such as refrigerator, chimney, hob, microwave and waste crushers from high-end brands like Siemens are a common feature. Great care has been taken to detail out every aspect of the project from the ornately-designed entrance doors to the wooden-finish false ceilings. Even the servant rooms are finished in imported marble flooring and carry the uniform, luxurious look as the rest of the apartment.

Rising Brand Consciousness

A rapid rise in the number of high net-worth individuals (HNIs), increased aspirations, transforming lifestyle and investment interest from Diaspora are the major factors pushing the demand of luxury housing. The globetrotter population of India is constantly rising and since they are well exposed to the international standards of living, they look for such amenities and lifestyle in their dream homes as well. Branded homes are perceived to be superior in terms of lifestyle quotient as well as investment value appreciation. Increasingly, millennial will compromise on property size in favor of a well-known developer brand which ensures high-grade locations, construction quality and project amenities. It’s not just the brick and mortar that a buyer pays for while investing in branded residences. These kinds of homes usually include the cost of the brand name which is associated with them. This is the reason why these brands lay down very strict guidelines and construction norms for the builders who get associated with them for building a residential project.

Realty major DLF has roped in Canada-based Arcop Group for the architecture of its project, DLF The Ultima, in Gurgaon, while the landscaping is by the award-winning Paul Fried-berg. DLF Ultima is the most luxurious project operated by the prestigious DLF Group which has constructed many skyscrapers and premium residential complexes. The Ultima caters to premium home buyers who are on the lookout for a home that caters to their fondness for luxury living. A flagship project at DLF’s Gardencity, ‘The Ultima’, located in Sector 81, Gurgaon, has the 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.

Themed Villas & Smart Homes

Themed housing projects have gained a lot of attention among home buyers. To cater to such evolving tastes and aspiring demands of the buyers, developers are launching exotic and exquisite theme-based projects. Owing to the constant technological advancements, the concept of smart homes has become increasingly popular. With the hi-tech technology-enabled systems, it provides the convenience and comfort in the day to day life of home owners. It intends to incorporate comfort, entertainment, mobility and security, providing occupants with connected solutions all the time. M3M Golf Estate, sector 65, Gurgaon is the largest luxury condominium project in Gurgaon. Designed by Arcop International, Montreal Canada, the project boasts of high-end specifications and amenities comparable to finest 7-star resorts. This residential property in Gurgaon epitomizes luxury with noteworthy exclusive features like rooftop jogging track, all apartments facing golf course and a “VIP” club house. For the design of its 9-hole reversible golf course, M3M partnered with California-based Golf Plan. Other luxury amenities include Butler on Call, Chef on Call, Bartender-on-Call, Convenience Shopping, Laundry, 5 Tier Security and many more.

Government Policies

According to the report, post-demonetization and RERA, branded developers are dominating the real estate market with 53% of new housing supply in the first half of 2019. Well established developers conduct careful research on their locations and are therefore able land the most lucrative growth corridors and also have better financial capabilities to execute projects. “Demonetization, Real Estate Regulatory Authority (RERA) and Goods and Services Tax (GST) put a hard leash on unregulated practices – and their practitioners – in the Indian real estate. Small developers were particularly impacted,” the report said. Hence, home buyers prefer to make an investment in a property developed by a well-known builder.

Godrej Properties Limited is the first real estate company to have ISO certification. The group is going to launch its first residential project Godrej South Estate in Okhla Phase 1, South Delhi. The project is expected to develop clean air technology which covers total 5 acres of land. It will be the ultra-luxurious residential property of Okhla with four tall towers with 19 to 29 floors. Along with the standard luxury amenities the project will have a cutting-edge FMAP Technology (Filter-less Magnetic Air Purification) that circulates pure & fresh air, in each and every corner of the home. Moreover, air purifiers with MFFA (Mechanical Filter-less Fresh Air) Systems are installed across the entire complex, to give you fresh air all through the day. Other features include a 5-tier security system, four-in-one smart door lock, smart video door phones, Swimming Pool, BBQ Area, Clubhouse etc.

Considering the growing demand, real estate developers are leaving no stones un-turned to cater to this emerging trend in the Indian real estate market. Most established real estate developers across the country are launching projects that match international standards in relation to lifestyle, interior decoration and architectural aesthetics. Next generation ultra-luxury properties are proving to be attractive and aspiration for the exclusivity they offer to prospective home buyers. The current tempo being witnessed over the luxury real estate market in India is expected to continue with inspirational homes being designed and developed, and is setting the course for healthy and sustainable growth in the real estate sector.

Source:

https://www.knightfrank.co.in/news/brand-reliability-and-trustworthiness-leading-factor-for-buyers-of-affordable-housing-rics-%E2%80%93-knight-frank-report-013247.aspx

https://content.knightfrank.com/research/1617/documents/en/global-branded-residences-2019-5874.pdf

www.realtymyths.com/branded-developers-dominate-with-53