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  • Re : Indian Real Estate News

    Air India Group starts vacating its offices from government-owned properties

    Read more at:
    https://realty.economictimes.indiati...rties/94109633



    Airline staff in this office as also the ones in Delhi's Safdarjung Complex, GSD Complex and IGI Terminal One will be temporarily located in an office space in Gurugram beginning this month and will move to a newly-built Vatika complex in early 2023.


    MUMBAI: Air India has decided to vacate its offices in government-owned properties, and will house them jointly with other Tata group airlines, including Vistara, in a modern campus in the national capital region by March next year.

    Air India, which was taken over by the salt-to-software conglomerate in January this year, continued with offices in government buildings including Airlines House near Parliament House in the national capital, a company statement said on Friday.

    Airline staff in this office as also the ones in Delhi's Safdarjung Complex, GSD Complex and IGI Terminal One will be temporarily located in an office space in Gurugram beginning this month and will move to a newly-built Vatika complex in early 2023.

    The idea is to house employees of all group airlines including Vistara and Air Asia India at one location.

    "Air India Group has embarked on its strategy to consolidate workspaces across the country as an integral part of its transformation agenda," the statement said.

    The consolidation of workspaces, it said, is being undertaken to improve collaboration, strengthen the organisation's culture, upgrade employees' work environment and facilities, and more easily deploy new technology.

    "Beginning from this month, a number of Air India offices presently housed in government-owned premises across the country are being vacated.

    "The largest base of staff, located in Delhi's Airlines House, Safdarjung Complex, GSD Complex and IGI Terminal One, will move to an interim office space in Gurugram before ultimately relocating to a campus at the newly-constructed Vatika One-On-One development in early 2023," it said.

    In May, the group had asked its staff to vacate the government-owned housing colonies, including big ones in Delhi and Mumbai.

    Besides Air India and its international budget arm Air India Express, Tata Group also holds a majority 51 per cent stake in Vistara, its joint venture airline with Singapore Airlines (SIA), and a 83.67 per cent stake in budget carrier AirAsia India.

    Air India, Air India Express and AirAsia India will be housed jointly in a modern office campus in the National Capital Region by March next year, in line with this consolidation strategy, which is being undertaken to improve collaboration and more easily deploy new technology, among others, according to the statement.

    The transition to the interim facility in NCR is being undertaken during the course of September, Air India said, adding that besides providing last-mile connectivity to the office premises from the closest public transport stations for ease of travel, flexible work hours are also being offered to employees.

    "The consolidation of many premises under one roof, and the evolution from a regionalised to centralised structure, is a significant milestone in Air India's transformation journey," said Campbell Wilson, Managing Director and Chief Executive Officer, Air India.

    Together with the relocation and consolidation of offices, the airline's regionalised organisation structure will be progressively disbanded and replaced with a centralised one, which will allow consolidation of presently-dispersed teams, co-location of managers with their teams and physical adjacency of related functions, according to the statement.

    It also said that a senior team is also relooking at the offices in different cities which are housed in legacy premises, with some in Chennai and Kochi having already moved to modern office premises.
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    • Re : Indian Real Estate News

      This is why buying a ready-to-move-in house makes more sense in today’s real estate market

      During a conversation about scrapping of the deferred land payment policy in Noida, a developer with a relatively strong balance sheet commented that the move is a positive one. “Why should you get a land parcel from the government where the only collateral is its future market value? Small-time brokers turn builders and then the entire ecosystem is vitiated,” he said.

      It should be remembered that it was the deferred land payment policy of Noida and Greater Noida, where the developers had to pay only 10 percent upfront amount and the rest in 10 years or date of completion (whichever being earlier), had sown the seeds of market malpractices in this part of the world.

      But the larger aspect here is to do with the fact that the trust deficit between the developer and the buyer is not restricted to Noida alone, but is prevalent across the country. Besides the genesis of the builder and the buyer, the trust deficit lies in purchasing a promise and not a product.

      This leads us to another question on who should be a builder. This developer I spoke to said that “if you have the financial resources then purchase the land, build homes and become a builder.” This clearly suggests that only one who has the financial muscle to build without buyers’ advance money should become a builder. The lesson of the story is ― build a product and then sell. Why should a builder borrow from buyers before getting a housing product ready?

      Another builder was of the opinion that real estate is not like any other industry. “The cost of borrowing for a real estate project is so high that if that is added to the project cost then it would not be affordable for the middle class home buyers.” That leads to another question ― is it all about affordability due to the build-and-sell model or is it about a builder’s project viability? Which other businesses have entrepreneurs starting a business and selling much before the product is ready?

      The fact is that builders want that home buyers continue to borrow for an under-construction project to fund them. It is an interest-free funding mechanism for them. Even developers who lack credit reliability and credibility for bank funding get away with the buyers’ advance receipt. That is why the market every now and then gets flooded with schemes like Subvention and Assured Returns. It is easier to take a public deposit without any interest burden than to borrow from banks and pay interest.

      When the market was appreciating, the buyers didn’t mind paying for under-construction properties. Double-digit year-on-year (YoY) growth was the sweetener for the buyers. Cancellation on the buyers’ part meant that the builder could sell the unit at a higher price. Today, there is absolutely no incentive for buyers to invest in under-construction project. To add insult to injury, there is a GST burden on delayed projects.

      The price difference between a ready-to-move-in apartment and an under-construction one today is hardly 10-15 percent. If you add the interest burden, along with the rental outgo of the buyer, then financially it doesn’t make any sense to buy an under-construction house. Ready-to-move-in homes make more financial sense in the market.

      Contrary to what builders think, an average home buyer has to borrow around 80 percent, whether for an under-construction or a ready-to-move-in unit. Another point to be noted here is that many times home buyers outgrow homes by the time they are completed, which means that by the time the buyers get possession, their requirements, aspirations and financial conditions change.

      Raman Sarkar, a marketing professional, received possession after a wait of seven years. He was newly married when he booked his 1 BHK apartment, but when he finally received the house keys, he had moved up financially and his needs had also changed.

      Buying an under-construction apartment doesn’t make sense in today’s housing market. Considering that appreciation is not high and buyers’ requirements undergo a change by the time the house is delivered, it makes prudent sense to buy a ready-to-move-in apartment.










      This is why buying a ready-to-move-in house makes more sense in today’s real estate market (msn.com)
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      • Re : Indian Real Estate News

        DB Realty may be acquired by Adani Realty: Media reports

        Read more at:
        https://realty.economictimes.indiati...ports/94155486



        Adani Realty, the luxury property arm of the leading multinational conglomerate Adani Group, is in advanced talks for a merger with Mumbai-based DB Realty, according to media reports.


        Shares of DB Realty hit their upper circuit on Monday amid the media reports of merger with Adani Group's real estate arm.

        Adani Realty, the luxury property arm of the leading multinational conglomerate Adani Group, is in advanced talks for a merger with Mumbai-based DB Realty, according to media reports.

        The reported merger could be India's largest real estate deal and is likely to pave the way for the stock market listing of Adani Group's realty firm.

        Following the development, shares of DB Realty zoomed 5 per cent, its daily circuit limit, to Rs 90.15 on Monday. However, the scip had settled at Rs 85.90 on Friday.

        Post-merger, DB Realty would be renamed Adani Realty. The deal will allow the back-door listing of Adani Realty on the exchanges. However, ETmarkets.com could not independently verify the report.

        Adani Group is likely to infuse more funds into DB Realty, which would result in a fresh equity issuance to new investors. Earlier, DB Realty was in talks with Godrej Properties, which could not produce fruitful results.

        The real estate firm has a portfolio comprising over 100 million square feet and 628 acres of prime property, mostly in Mumbai. Also, the company tied up with Adani GoodHomes in various projects.

        Shares of DB Realty have risen almost 70 per cent in the last three weeks, whereas the counter delivered a return of 85 per cent so far in the current calendar year.

        Promoters, including Vinod Goenka family, Balwa family and a few others, put together close to 69 per cent stake in the Mumbai-based DB Realty.

        Late Rakesh Jhunjhunwala, who passed away last month, and his wife Rekha, cumulatively held 50,00,000 lakh equity shares or 1.73 per cent stake in the company as of June 30, 2022.
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        • Re : Indian Real Estate News

          The urgency of urban flooding: What Bengaluru floods 2022 taught us

          Manka Behl / TNN / Updated: Sep 15, 2022, 08:36 IST



          Intense urbanisation process led to encroachment of wetlands in Bengaluru, once known as city of lakes. The city lost its natural flood storage, causing the drains to choke completely

          NAGPUR: Major cities along with towns now stand at increased risk of flooding in India, with the recent Bengaluru floods being a classic case of urban flooding. It highlights the urgent need of urban adaptation and resilience plan, say experts.

          An analysis done by Climate Trends highlights how Bengaluru floods were a combination of two factors-climate change and mismanagement of urban planning. "While changes in monsoon systems due to climate change led to torrential rain over the city, the situation worsened due to poor urban planning which did not let the water find its way out, eventually inundating it for days. With increasing frequency and intensity of extreme weather events, this can be more recurrent across Indian cities, impacting lives, livelihoods and GDP," the analysis states.

          Once known as the city of lakes, Bengaluru's intense urbanisation process led to encroachment of wetlands and flood-plains, leading to floodway obstruction. "With the loss of natural flood storage in Bengaluru, flooding had worsened by unauthorised developments along the lakes. In the wake of urbanisation, the network between the water bodies is completely broken, making them independent entities. Choked drains led to residential parts of the city being inundated. It demonstrated how unplanned, rapid urban development has stretched the natural ecosystems in and around a city to its limits, and made disaster from natural flood hazards inevitable and more destructive," the analysis adds.

          Stressing that urbanisation across the city continues to be unchecked, author of Intergovernmental Panel on Climate Change (IPCC) Anjal Prakash says, "Bengaluru is doing nothing for adaptation. Political system and will is not aligned with climate resilient policy. In fact, there has been no political stability to battle climate risk as 15 chief ministers have changed in the last 20 years."

          According to the IPCC, urban climate resilient development is observed to be more effective if it is responsive to regional and local land use development and adaptation gaps, and addresses the underlying drivers of vulnerability. "The main issue to deal with is to understand that different people in the city hold document capacities to cope with and adapt to seasonal floods. This is a deep environmental justice issue. Low-income households need safety nets to flood proof their homes. This means more inclusive and sustainable urban planning that holds penalties for those constructing and encroaching on urban wetlands." says Chandni Singh, senior researcher and faculty member at the Indian Institute for Human Settlements.

          Adding that people are increasingly understanding the implications of climate change and how these events are affecting them in real time now, director of Climate Trends Aarti Khosla says, "Climate change will not only worsen these events but compounding disasters will destabilise growth and local governments. If decision makers fail to bring an integrated, inclusive planning to India's urban development, it will not only be counterproductive to the GDP-linked development we aim for, but also lose out on investment opportunities to develop future-ready cities which have the adaptive capacity for increasing populations."










          Bengaluru Floods: The urgency of urban flooding; What Bengaluru floods 2022 taught us | Nagpur News - Times of India (indiatimes.com)
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          • Re : Indian Real Estate News

            Eldeco, HDFC Capital form Rs 350 crore fund for housing projects

            Read more at:
            https://realty.economictimes.indiati...jects/94248543



            Earlier, Eldeco Group had partnered with HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1) to set up a Rs 150 crore platform for the development of low-rise and plotted development projects.


            NEW DELHI: Realty firm Eldeco group on Friday said it has partnered with HDFC Capital to set up Rs 350 crore fund to develop residential projects across many cities.

            Eldeco Infrastructure and Properties Ltd (EIPL), a privately held company of the Eldeco Group has "partnered with HDFC Capital Affordable Real Estate Fund 3 (H-CARE 3) for an investment of Rs 350 crore to create a platform to develop multiple residential projects across multiple cities."

            Currently, Eldeco has identified four residential developments in Delhi-NCR, Himachal Pradesh and Uttarakhand for an initial investment of Rs 175 crore.

            Earlier, Eldeco Group had partnered with HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1) to set up a Rs 150 crore platform for the development of low-rise and plotted development projects.

            The first project under this platform 'Eldeco Paradiso', a 35-acre plotted project in Panipat was launched in late March this year.

            Pankaj Bajaj, Chairman of Eldeco Group, said, "Eldeco is now present in more than 15 cities in North India, including in Lucknow through our listed entity - Eldeco Housing and Industries Ltd (EHIL). We believe that the entire North India belt is starved of quality real estate, especially housing. This new platform will help us serve this unmet demand in multiple cities in North India."

            Vipul Roongta, MD & CEO of HDFC Capital Advisors Ltd, said: "We are committed to strengthening our partnerships with trusted real estate developers with an established track record in development and delivery of real estate projects."

            He noted that Tier-2 cities offer a significant opportunity for development of branded, high quality residential projects that will cater to the burgeoning demand for housing fuelled by the social and economic transition in these cities.

            "Our partnership with Eldeco will help the group expand its footprint in Tier-2 cities across North India by providing capital for the development of quality real estate developments," Roongta said.

            Established in 1985, Eldeco Group is a North India focused real estate developer with strong presence in Tier-2 cities. The group operates in Lucknow through the listed entity EHIL, and in rest of the India through the privately held EIPL.

            Eldeco Group has delivered 175 projects with approximately 30 million square feet of real estate development. Besides these, the group has 30 projects with 35 million square feet in various stages of execution.

            Apart from Lucknow, Kanpur, Noida and Gurugram, Eldeco has presence in Panipat, Sonepat, Ludhiana, Bareilly, Panchkula, and Jalandhar among others.

            HDFC Capital, a subsidiary of Housing Development Finance Corporation Ltd, is in the business of managing private equity funds focused on the real estate sector in India.

            HDFC Capital is the investment manager to H-CARE 1, HDFC Capital Affordable Real Estate Fund 2 (H-CARE 2) and H-CARE 3, which are registered with Sebi as a Category II Alternative Investment Funds.

            These funds combine to create a USD 3 billion platform targeting the development of affordable and mid-income housing in India.
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            • Re : Indian Real Estate News

              MSRDB plans to invest over Rs 3,000 crore to expand real estate portfolio in three states

              Read more at:
              https://realty.economictimes.indiati...tates/94291507



              The company is looking at doubling its retail and commercial portfolio to over 8 mn sq. ft. from 4.5mn sq. ft. it is developing currently.


              M.S.Ramaiah Developers and Builders (MSRDB) plans to invest over Rs 3000 crore to expand its retail and commercial real estate portfolio across Bangalore, Goa and Andhra Pradesh.

              The company is looking at doubling its retail and commercial portfolio to over 8 mn sq. ft. from 4.5mn sq. ft. it is developing currently.

              “We plan to develop 3-5 mn sq. ft. of land annually and most of these projects will come up in North Bangalore. We are a debt light company and would prefer to keep it low in the future too,” said Raksha Ramaiah, a director of MSRDB.

              For this year, MSRDB has three hospitality projects in the pipeline in Bangalore and Coorg.

              It is also building an entertainment and hospitality project close to the airport, spread over 900,000 sq. ft.

              "We are in talks with some of the international operators and will soon close the deals for hotels,” he said.

              The company has additionally signed over 12 mn sq ft of joint development and joint venture agreement with top builders to expand its residential portfolio.

              MSRDB, which owns a huge land bank in north Bangalore, has tied up with TATA Realty, Birla Estates, Godrej Properties and Embassy Group amongst other large developers.

              “We do not want to invest in land and will expand the joint venture and joint development model with some of the top builders. We only develop land upto 5 acres in-house,” said Ramaiah.

              North Bengaluru is fast emerging as the next growth destination in the Silicon Valley of India with some of the top builders from the country announcing projects across residential, commercial and retail segments.

              According to various industry estimates, about 530 acres of land has already been banked in North Bengaluru by builders.

              In H1 (Jan to June) 2022, Bengaluru residential market recorded the highest half-yearly sales since H1 2008. It recorded a sales growth of 169% in H1 2022 as compared to H1 2021. By comparison, in Q2 2022, however, sales of residential apartment units witnessed a decline of 8% Q-o-Q as the new launches also came down by 28% in the quarter, said JLL.
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              • Re : Indian Real Estate News


                Buyers Can Choose To Opt Out Of Residential Project If Possession Is Delayed
                The National Consumer Commission has held that a buyer is now entitled to opt out of a housing project if there is a delay in delivery of possession of the house by the real estate developer. It said the buyer is also entitled to a full refund with reasonable interest and any deduc tion on the amount is unjustified. "The petitioner was fully justified in opting out of the [hire-purchase] scheme and demanding refund of the money that she had paid along with interest," the commission said. The order was passed after a petition was filed by Agra resident Ms Indira Gupta, who was seeking quashing of the Uttar Pradesh State Consumer Commission's direction to deduct 20% from the amount to be refunded to her by the Agra Development Authority.
                29 Aug 2010 DNA[/QUOTE]

                if it is truth then what about the brokerage part which is given by the developer at the time of sale took place

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                • Re : Indian Real Estate News

                  IBBI allows bankrupt companies to be split, boost for recovery of due

                  Read more at:
                  https://realty.economictimes.indiati...f-due/94291403



                  The move to split assets is seen to be beneficial in cases involving real estate players and other entities with multiple projects, all of which may not be viable, or there may be some assets which will generate higher value, a senior government official told TOI.


                  MUMBAI: Regulatory agency Insolvency & Bankruptcy Board of India (IBBI) has allowed splitting of companies to attract more participants into the corporate resolution process as it seeks to provide flexibility and increase realisation.

                  The move to split assets is seen to be beneficial in cases involving real estate players and other entities with multiple projects, all of which may not be viable, or there may be some assets which will generate higher value, a senior government official told TOI. It would help in the resolution of bankrupt conglomerates into multiple businesses.

                  “To maximise value, the amendment enables the resolution professional (RP) and the committee of creditors (CoC) to issue a request for a resolution plan a second time for the sale of one or more of assets of the corporate debtor (CD) in cases where no plan has been received for the corporate debtor as a whole. It enables for a plan to includethe sale of one or more assets of CD to one or more successful resolution applicants submitting plans for such assets and providing for appropriate treatment of the remaining assets,” IBBI said while releasing the amended regulations.

                  The new rules also provide a last-ditch compromise settlement with the promoter before liquidation if everything else fails.

                  With an increasing number of bankruptcy cases going for liquidation and recoveries dipping sharply, the agency has also allowed marketing where the asset value exceeds Rs 100 crore.

                  “There has to be some push factor. So far, potential resolution applicants would reach out once they knew of a company being part of the process. Now, the RP and CoC can hold roadshows, attract more bidders, and also structure transactions better,” the official said.

                  “The most important change is the flexibility of having multiple resolution plans for different parts of assets. There would also be a substantial improvement in the flow of information as stipulated now. Enhanced disclosures, including intangibles like losses brought forward, GST input credit, supply chain, brand, etc, will help make price discovery more efficient,” said Hari Hara Mishra, director of UV ARC (asset reconstruction company).

                  So far, the procedure involved notification of the process seeking bids and the resolution professional putting in effort in their personal capacity to reach out to buyers and share information when required.

                  Now the process mandates marketing, and the CoC can approve the marketing costs for the sale of a company just like in an IPO process, providing all details in an information memorandum and holding roadshows for buyers.

                  “Even when the debtor heads towards liquidation, there is now a window for exploring a scheme of arrangement/compromise,” said Mishra.





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                  • Re : Indian Real Estate News

                    Gandhinagar: Can't develop cities with elections in mind, says Prime Minister Narendra Modi

                    TNN / Updated: Sep 21, 2022, 07:37 IST


                    PM Modi addresses the virtual BJP mayors’ national conference in Gujarat on Tuesday

                    GANDHINAGAR: Speaking to BJP mayors who have assembled in state capital Gandhinagar, Prime Minister Narendra Modi said that elected representatives should not think just in terms of winning polls as cities cannot be developed with an election-centric approach.

                    After virtually inaugurating the two-day BJP mayors' national conference, the PM said, "The elected representatives should not think just in terms of winning elections. You cannot develop your city with an election-centric approach. Many times, a decision which is in favour of a city is not taken just because of the fear that it might result in electoral losses."

                    Stating that huge investment is being done in urban infrastructure, Modi said that the metro rail network in different cities of India was less than 250 km in 2014 and has now increased to more than 750 km, while work is going on for another 1,000 km.

                    Talking about solid waste processing, PM said, "Prior to 2014, 18% of solid waste was processed. Today 75% waste is processed. But we must rid our cities from mountains of garbage."

                    Bharatiya Janata Party (BJP) chief J P Nadda will be on a two-day visit to Gujarat beginning Tuesday during which he will participate in a host of events and hold meetings with local leaders, a party leader said on Monday. Nadda's visit holds significance in view of the state assembly election to be held later this year.

                    The BJP president will flag off e-bikes at the BJP's Kisan Morcha event near Gandhinagar on Tuesday morning, said Pradipsinh Vaghela, general secretary of Gujarat BJP.

                    Nadda, CM Bhupendra Patel and Gujarat unit chief C R Paatil will attend the inaugural session of the National Mayors' Conference at a five-star hotel in Gandhinagar on Tuesday. Mayors and deputy mayors of the BJP-ruled urban bodies in Gujarat will take part in the two-day conference, he said.

                    "On Tuesday afternoon, Nadda will be in Rajkot to address a gathering of BJP's elected representatives in urban, panchayat and cooperative bodies. Paatil, Patel and other senior leaders will attend the gathering," Vaghela told reporters. From Rajkot, Nadda will travel to the neighbouring Morbi town to hold a roadshow in the evening.

                    At 8.30pm (on Tuesday), he will attend 'Viranjali' event in Gandhinagar, where artists will pay tributes to national heroes through songs and plays.

                    On Wednesday, the BJP president will hold meetings with senior Gujarat BJP leaders at the party headquarters, Shree Kamalam, in Gandhinagar. He will address professors at Tagore Hall in Ahmedabad on Wednesday afternoon and talk about the party's ideology, Vaghela said, adding that Nadda will also attend the closing ceremony of the mayors' conference in the state capital.








                    Gandhinagar: Can't develop cities with elections in mind, says Prime Minister Narendra Modi | Ahmedabad News - Times of India (indiatimes.com)
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                    • Re : Indian Real Estate News

                      Are flexi homes the future of city real estate?


                      By Amit Kumar Agarwal, CEO and Co-Founder, NoBroker.com

                      In these unprecedented times, we are seeing a rapid change in the way people live and work. And, as a result, buyers’ preferences have been evolving a little too much! Builders who want to stay ahead of the times are now anticipating the needs of the new buyer of the new normal.


                      The Post-COVID Homebuying Scenario


                      The pandemic has influenced homebuyers’ choices in a big way with most buyers seeking multiple functionalities from their homes. Other factors such as changing demographics, hybrid work culture, macroeconomic factors, geopolitical developments, and lifestyles have also contributed to these aspirations.

                      The Repo Rate of the RBI, which was already in a decreasing trend before the pandemic, fell drastically following the COVID-19 outbreak. From its high of 6.5 per cent in 2019, the Repo Rate stabilized around 4 per cent in 2020. It resulted in increased purchasing power of prospective homebuyers and gave the much-needed fillip to home-buying. The vector of economic demand for residential real estate increased as a result, coupled with superior savings during lockdowns.


                      Work, Life, and Leisure: Owning a Dream House in the City


                      People are looking for adaptable accommodations that can act as multifunctional or recreational spaces. According to the NoBroker survey of around 8,000 participants, the percentage of buyers asking for “Flexi Homes” took a 15-fold jump between 2020 pre- and post-COVID, increasing from 2-3 per cent to 45 per cent post-COVID. But why is that?

                      There are multiple variables driving this trend. In the post-COVID era, we are seeing a reverse migration of the workforce. People are returning to metropolitan regions and, unlike before, want to dwell as close to their offices as possible. Let’s understand this trend with numbers.

                      NoBroker’s Half Yearly Report of 2022 found that about 71 per cent of people had already moved to their work cities. 72 percent of the tenants are considering buying properties despite the recent hikes in interest rates. 45 per cent of them claimed that the EMIs are now more manageable and 32 per cent found it difficult to rent a good property. About 65.8% of respondents were also house-hunting for bigger or better accommodations.

                      The challenge here is that a house in the city either leads to an inflated budget or a smaller carpet area as compared to buying in the suburbs. But the tradeoff comes with superior price appreciations, lower cost of commute, improved access to amenities, and other long-term gains. These factors make flexi homes, which can be adapted to a person’s or a family’s needs easily, an asset.


                      Flexing the Flexi Muscle: The Dawn of a New Era


                      Flexi homes build on a modular approach. You can think of a modular kitchen, to begin with. The only difference is that rather than letting its modules take up a lot of space, they keep everything to the bare minimum. For instance, in a flexi home, the modular dining table or sofa set can be lifted, folded, and pinned on the wall, thereby creating more space for other use cases. The same holds for beds that can become workstations by the day and bed again by the night.

                      Owing to their functionality, flexi homes are becoming more and more popular. Some of their advantages include:
                      1. They are designed to be as close to an ideal home as possible, boasting everything one needs for a comfortable life.
                      2. The rooms can be used for multiple purposes such as a home office, gym, or playroom for kids.
                      3. These homes provide an opportunity to live in prime locations at budget prices.
                      4. They also offer an investment-friendly environment with potential long-term gains.
                      5. And last but not least, they give the much-needed respite from monotonous lives at pocket-friendly prices.
                      There’s little doubt then that more people are opening up to the idea of flexi homes. This demand is being addressed by real estate developers. It is not a simple or an easy change to be adapted into a project and will take at least 5 years before more and more projects can be designed as per buyer’s requirements. But this is not a lot of time in real estate terms. But there has been a start from buyers’ side in terms of asks and from builders’ side in terms of acknowledgement and accommodation.

                      In conclusion, the real estate market is changing and so are the preferences of the buyers. The builders who want to stay ahead of their time are coming up with properties that take the buyers’ criteria into consideration. There is a greater demand for houses that are budget-friendly where homes can act as multifunctional or recreational spaces, designed to be as close to an ideal home as possible. It’s only logical for flexi homes to become an integral part of the ultramodern lifestyle in the near future and makes complete sense for builders to incorporate these demand into upcoming projects.










                      The Homebuyer Diktat: Are flexi homes the future of city real estate? (msn.com)
                      Last edited 6 days ago.
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