Dr Adv Harshul Savla, Managing Partner of M Realty (Suvidha Lifespaces) discusses some of the growing trends in the real estate sector.
By Nichola Marie
How do you explain the boom in the real estate sector?
India is the most populous country in the world. The average age of India’s population is 28 years. India’s population is young and seeks a better standard of living. India’s real estate boom is primarily fuelled by this young, ambitious population. India is the fifth largest economy in the world. The strong financial position of India is also aiding the growth of the real estate industry. The rising trend of the nuclear family is also a vital factor. Lastly, the aspiration for larger homes and better amenities leads to residential real estate growth across India.
What are some of the trends that will influence the sector?
- Growth of the nuclear family
- Aspiration for larger homes
- Wish list of buildings with amenities
In my view, the above three trends will continue to influence the real estate sector in India.
Is there a discernable demand for open green spaces?
Post the Covid-19 pandemic, the preference for open spaces, amenities and green spaces has increased tremendously. These factors will also contribute to a better standard of living for all the occupants.
What are some of the tech advancements and sustainability trends that are growing?
In a nutshell, here are some of the growing trends…
- Green construction in all upcoming projects
- Reform in sales and marketing approach with a focus on customers
- Opportunity in new acquisitions with an asset-light approach
- Women empowerment with active involvement on sites and office
- Transparency with all stakeholders and in all dealings
- Housing for all, which is the key growth focus for M Realty (Suvidha Lifespaces)
What are some of the latest architectural and design trends?
These are some of the architectural and design trends marking their presence in the industry:
- Column-less floor plate
- 4.2 mts (14 feet) floor to floor height
- Wrap out balconies
- Rooms for domestic workers (house-help) with toilet and pantry
- Easily accessible for senior citizens and physically handicapped
- Rooms, toilet and pantry for drivers and watchmen
What are some of the ongoing and upcoming projects for M Realty (Suvidha Lifespaces)?
Here’s a glance at some of the ongoing and upcoming projects for M Realty (Suvidha Lifespaces):
M02 – Charni Road
M10 – Mazgaon
M14 – Hindu Colony Dadar (E)
M14 – Parsee Colony Dadar (E)
M20 – Marine Lines
M25 – Worli
M71 – Chembur