In last few years the demand for luxury homes in India has seen a phenomenal increase. However, a new term which is trending these days in the Indian realty market is ‘Practical Luxury’. This term is a new model which means incorporating unique luxury statement to any housing unit to attract more and more up-segment buyers.
In recent times, Realtors, as well as developers, have launched a collection of luxury housing projects that suit almost every budget, and hence the demand for luxury homes has risen in metros and other major cities due to rising aspirations of buyers.
But with the changing trend developers are now shifting their focus from pre-defined luxury to customer-centric luxury. And here ‘practical luxury’ comes into focus. Let’s understand in detail:
How Practical luxury setting trend in today market?
With the advent of the digital medium, buyers these days are well aware of international design standards and development. So they are looking for properties which are not only luxurious but also come with a sense of exclusivity, excellence, and sophistication. They want their residential unit to have unique designs which may include automated fittings, enhanced security features, and eco-friendly architecture.
According to real estate expert, “Realty market today is filled with a lot of consumers who are looking for customized luxury residences. Privacy is increasingly becoming an important factor for such home buyers. They want features that allow remote monitoring of their homes. Automation to adjust light settings, control room temperature and audio-video systems within the house, remotely control air-conditioners by setting a pre-defined time for cooling, etc. All such amenities enhance security and lifestyle.”
In order to attract home buyers, builders especially branded names are working hard to provide innovative concepts and unique amenities. Apart from high end features like swimming pools, game rooms, gymnasium/recreational spaces etc., they are trying to infuse nature with human beings which mean a green residence.
Biophilic design- An important part of the practical luxury
The best way to incorporate practical luxury into a project is a biophilic design principle, in which a builder tries to bring in outdoor or Mother Nature touch in residences. For example. Earthen bricks, stone usage, sloping roof, organic furniture, Pinewood cabinets, eco-friendly paints etc.
Some developers say that these incorporations enhance the overall look and feel of a residence. They conserve energy and also build a native connect with the exterior world. Polished stones, along with rough, textured timbers, help in creating a contrast between refinement and natural beauty.
So with increasing customer-centric approach, developers nowadays are adopting such products in order to add a new style statement in the Indian realty sector. Because at the end of the day, a project that promises a modern and luxurious lifestyle and that too in a unique manner to their consumers will definitely hold well in the changing real estate market.