Since the outbreak of COVID-19, there’s been a noticeable shift towards plotted layouts and low-density housing (think Rowhouses, Villas, Bungalows, and the like). This shift isn’t just a whisper in the wind; it’s booming, with a staggering rise of 400% in plotting project launches in 2023 over 2019.
WHAT’S DRIVING THIS SURGE? A FEW FACTORS STAND OUT:
- Work from Home (WFH): The pandemic ushered us into the remote work era. Many now crave living closer to nature, away from the hustle and bustle, in cozy independent houses. Plus, living on the outskirts offers a sweeter deal with its substantially lower cost of living compared to the city’s heart.
- Health and Wellness: Our collective health and wellness radar has gone off the charts! Spacious homes with easy access to the great outdoors, gardens, and parks are now more than just a luxury; they’re a necessity.
The entry of big names like K Raheja, Godrej Properties, Supreme Universal, Lodha, and others into this realm signals that this trend isn’t just a passing phase but a solid move towards a more serene and holistic living environment.
What do you think about this shift? Is it a temporary adjustment, or are we looking at the future of residential living?
The author is a partner at Vasupujya Corporation, a Real Estate development firm based in Pune. He is a civil engineer from IIT Bombay and is also engaged in the Real Estate Data Analytics wing at CREDAI Pune Metro.
RAHUL AJMERA
PARTNER, VASUPUJYA CORPORATION
