Balancing Price-Quality Equations

An elaboration on this long-lived endeavor of the Indian housing market

Real estate customers can’t be merged into a single bucket. Each has different levels of requirements and experiences. Investors look for a lot of data, while first-time buyers expect a lot more hand-holding. In commonality, both types of customers want an interpretation of documents, transactional help and support with decisions. But more importantly, what they are also seeking is high-quality real estate and better variety in exchange for affordable rates.

New-age customers are wise, tech-savvy and knowledgeable, and understand the value that each property brings. Thus, the last thing to expect from today’s buyers or investors is to settle for anything less than the best, especially in terms of quality.

Input costs are at an all-time high and are anticipated to continue rising significantly in the near future. Hence, considering the current market scenario, the biggest challenge facing real estate developers is driving their way out of a long seven-year slowdown, adopting new technologies to offer better deals and balancing the price-quality equations.

There’s more that the home builders are striving for — all in pursuit of fulfilling customers’ needs. Let’s find out more about the measures they are taking:

Creating Everlasting Experiences

Indian developers are just starting to realize the practice of positioning in real estate. Thus, in the Indian real estate market, housing is no longer marketed as merely a product. It is now marketed as a source of a valuable experience, a premium lifestyle and much more. One of the ways developers do this is by promoting themed projects. For any property buyer or investor, having access to luxe amenities is just as essential as the size, location or price. It’s no wonder why additional property features like gyms, swimming pools, gardens and community spaces have become a necessity and are expected as part of the deal. In addition, buyers also look for health and wellness centers within the property premises, and this has swiftly emerged as a hot trend for both developers and customers.

Embracing a Tech Boost

Home automation is now becoming mainstream across the world, all thanks to technological advancements and the rise of millennial and Gen-Z homebuyers. Importantly, people are getting comfortable with smart technology and understanding the capabilities it offers. From smart door locks to smoke detectors, light control switches to security camera surveillance systems, these home automation tools have become important elements contributing to the decision-making process.

With increased popularity, soaring demand, better awareness and higher disposable incomes, the market for automated homes is flourishing and developers are leaving no stones unturned to integrate these innovations into their projects to fulfill the changing customer preferences.

Letting PropTech Innovation Lead the Way

PropTech solutions facilitate the growth of smart buildings that involve design elements, bearing in mind the best possible energy and operational efficiencies. Additionally, leveraging PropTech and Big Data in portfolio management not only helps to save costs, increase margins and improve tenant relationships, but is also linked to space efficiency and employee productivity. Realizing its benefits, developers, too, are making use of technology for numerous reasons like monitoring space usage (via smart sensors, apps), studying hydrological surveys and understanding watershed management. What’s more? Modern-day developers are also implementing principles of physics for the built environment, hygrothermal analysis of buildings, enhanced indoor environment performance, sustainability and dynamic building simulations for resource efficiency.

Sustainability Setting in Motion

The need for sustainability in real estate has rapidly picked up pace, which has increased the value of eco-friendly projects of late. More and more homebuyers, especially the younger generation, are willing to pay an extra cost for sustainable properties. Simply attributing a property as a “green project” would no longer lure well-informed customers. So, the onus of implementing all-things sustainable in the property premise lies with the developers, and homebuyers are taking complete cognizance of their claims. Consequently, many home builders are now employing organic farming, traffic-free settings, green acres, and other amenities to attract and retain buyers.

To Sum It Up

As anyone observing the Indian real estate industry right now can vouch, the market has seen increased volumes. On the back of this, prices have firmed up a bit also due to rising input costs. However, it still remains a buyer’s market with a fine balance between developers and customers. Striking consistent quality standards still remains a large enough challenge, as is debt default.

Whatever the future may be, it’s time home builders acknowledge the importance of quality in each and every aspect; whether it is input materials, design technology, vertical transportation or lifestyle amenities, real estate is a long-term asset for both buyer and investor.

Harish Sharma,

 Founder and CEO, Plinthstone REMA, a multi-specialty real estate advisory firm, is an accomplished business transformation expert with tremendous experience in real estate advisory. He also has hands-on knowledge in areas like stock broking and wealth management, as well as institutional equities involving both start-up and growth organizations.

Sharma has a successful track record of more than 20 years in building profitable businesses across diversified segments, including new markets identification. He is known for providing stability and sustainability across the business cycle. Over the years, Sharma has demonstrated a balanced approach toward setting up high-performance teams, risk management and client-centric processes.

With a great deal of industry exposure and the art of nurturing organizations, Sharma founded Plinthstone REMA in 2021 with the singular focus of enabling small and medium real estate developers and providing integrated marketing solutions to help projects achieve success.

Plinthstone is a multi-specialty realty advisory firm that prides itself on creating unique solution services for the realty industry. Services are uniquely designed for small and medium real estate developers to solve their brand and business problems. Within a short span of time, the firm has set new benchmarks in the industry through commitment, goodness and sustainable relationships. The company believes in empowering dreams for their stakeholders in a way that creates value for brands, businesses and people with whom they associate.

Plinthstone is focused on offering personalized guidance to its customers and solving real world problems. The company has an impressive 100% success rate, due to its unique sales method strategized by the top business minds in the industry. Their success owes a lot to their highly creative team members, who have decades of experience in the designing industry.

The comprehensive finance and asset management services range from brand to business, capturing critical functions of the two. Plinthstone’s unique financial advisory has charted the path for many companies. Additionally, the company’s focused customer relationship management serves to create customer-brand relationships.

Since its establishment, the company has gone from strength to strength, from being the founding agent to firmly putting equestrian properties on the map where previously very little was known (and even less understood) about this unique marketplace. Plinthstone has attended to more than 15,000 customers, with 1,000 customers served and delivered on more than 18 projects.

The company has a strong team of more than 100 professional experts in their assigned roles. Plinthstone has a strong channel that includes more than 2,500 channel partners and believes it offers its clients the best solutions and services.