WFH has to led to boom in luxury homes market: Anand K C

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New Delhi, August 19, 2021: The luxury homes market has seen a boom over the past few months despite the pandemic. In fact, Work from Home (WFH) which is the new normal, has been one of the reasons for the comeback of luxury homes since home buyers are opting for larger living spaces and more amenities, says Anand KC, Vice President – Sales at Vaishnavi Group, a leading real estate developer based in Bengaluru, in an exclusive interview with Property Times. 

Excerpts of the exclusive interview: 

Property Times: Bengaluru’s luxury housing has seen a comeback despite the pandemic. What according to you are the reasons? 

Anand K C: The key reasons for the comeback of luxury homes market are:

–         The need for additional space,as people are spending more time at home.

–         The need for more amenities which are mostly available in luxury projects.

–         Customers are looking to upgrade their existing homes as they need more space with work-from-home and online education being the new normal currently. 

PT: What is the biggest change you have seen in luxury real estate market since pandemic? 

AKC: The biggest change according to me are the flexi payment schemes offered by builders and lower bank interest rates, that have brought down the EMI outflow per month. This has helped many individuals to opt for luxury homes overmid-segment / affordable homes.

 PT: How do you see work from home impacting the luxury home in Bengaluru? 

AKC:Work-from-home is one of the main reasons that more customers are opting for luxury homes as they need more space, which homes in this segmentare able to provide. Luxury homes also come with a plethora of amenities. Additionally, due to work-from-home beingthe new normal during these times, customers need not commute to work on a daily basis and are able to afford luxury units located near the outskirts of Bengaluru. 

PT: What amenities are buyers looking for in a luxury home in Bengaluru? 

AKC:Amenities preferred by customers in luxury homes:

·        Co-working place and business centres in club house

·        More greenery in and around the property (suburbs)

·        High quality finishing materials used

·        Top notch security

·        Preferred plans with servant’s quarter, utility space, patio, walk-in closet

·        High-end kitchen & spacious bedrooms (extra space is the need of the hour)

·        Surreal views from the property

·        Smart home features

·        Lavish amenities 

PT: Who are the buyers of luxury homes today? 

AKC:Buyer profiles are CEO/CXO and top-level management across IT/E-commerce in and around central Bengaluru. But when it comes to suburbs of Bengaluru, people from various demographics are also buying luxury homes because they are looking to upgrade from their existing homes and also since they need extra space for their work. 

PT: Tell us about Vaishnavi’s upcoming luxury home projects under development? 

AKC:We will be launching an ultra-luxury project- Vaishnavi Premiere in the CBD very shortly. We will also be announcing two luxury projects of scale in South Bengaluru in the coming months. 

PT: What are the luxury home market trends you see continuing in the years to come? 

AKC:The luxury home market is here to stay as customers are looking for more space in their units. The current work-from-home culture also means customers need a dedicated room for their work. Today, the post-pandemic home has become an integral part of everyone’s lives as people are spending most of their time at home or within the apartment complex. So projects with lots of amenities are and will continue to be a preferred feature among customers. Customers will also be increasingly looking for an important amenity of a co-working space or a business centre within the clubhouses of luxury projects.

Corporate Comm India (CCI Newswire)