The article titled Transforming For Future states that Millennial home buyers have already made it clear that they prefer affordability, coupled with good location, over larger-sized homes in the far-flung suburbs. Simultaneously, developers are looking to make their housing projects more affordable for a higher customer base. These young professionals are less focused on size and look for homes in locations close or well-connected to their workplaces so that their daily commute is reduced and the work-life balance is maintained. These compact homes are also low on maintenance.
The article quotes Mr. Amit Ruparel, Managing Director, Ruparel Realty – "In a city especially like Mumbai which is space-starved, what really accelerates conversion is maximum space at minimum cost. Therefore, it is imperative to create a wholly functional home in a restricted space by utilizing every inch. We saw a huge demand in this segment and decided to build compact houses with best quality infrastructure. However, building such wholly functional and welcoming homes is a big challenge in a place like Mumbai."
The article also carries inputs by Mr. Anuj Puri, Chairman, Anarock Property Consultants, Mr. Gaurav Sawhney, President, sales & marketing, Piramal Realty, Mr. Gaurav Gupta, Director, Omkar Realty, Mr. Rohit Poddar, MD, Poddar Housing & Development Ltd., Mr. Om Ahuja, COO, residential business, Mr. K Raheja Corp., Mr. Sankey Prasad, CMD, Synergy Property Development Services, Mr. Boman R. Irani, Chairman & Director, Rustomjee Group, Mr. Ashish R. Puravankara, MD, Puravankara Ltd., Mr. Viral Chhajer, Co-Founder & CEO, StayAbode Ventures and Mr. Shishir Baijal, CMD, Knight Frank India.
Source : Media Tracking System
