Residential Complex in India

The attitude of typical Indians has changed the orthodox mindset of building and designing a house to live in it. A result of this is that houses are nowadays counted as a transitory asset, with lots of residential complex in india. The idea of buying a house that will last a lifetime has gradually vanished. The buzzword nowadays is 'investment'. Both the policymakers and the stock-brokers share an united view in this aspect.

Indian residential complex has seen an unprecedented boom in the last few years. This was ignited and fueled by two main forces. First, the expanding demand for dwellings in developing industrial areas. The industrial sector was seen by the manufacturing sector. Second, the liberalization policies of government has decreased the need for permissions and licenses before taking up mega construction projects. Opening the doors to foreign investments is a further step in this direction for creating new residential complex in india. The villages adjacent to the metro cities have experienced sky-rocketing land prices. This has induced farmers to sell their land for good money for developing residential complex in india.

The real estate market in India is yet in a nascent stage and the scope is simply unlimited. An unhindered growth for the next twenty years is almost sure. This is because the outsourcing business in India is going in great guns and this entails a huge demand for residential complex and urban housing besides improvement in infrastructure. A price index for the housing market to track price movement must be incorporated. The government must ensure that there is no shortage of funds.

What’s in a name, you may ask. Lots, if you believe the nation’s property developers and go by the latest trend in the real estate industry as well. Gone are the days when residential properties in India used to have names in Hindi or other Indian languages. Now more than 80% apartments and residential towns, basically those built by builders, have western names So, is this just for the sake of name change or is there more than meets the eye? Industry experts believe this shift is apparently more by design than just for the sake of changing names, primarily to reflect western lifestyle and modernity. With the current buyer segment of Indian real estate being a good mix of expatriates, NRIs, and upper middle class who are all globe trotters, such names have a better recall and attach a prestige value to the project. The building quality notwithstanding, such modern names are also more likely to fetch a premium for developers. There is a believe that the choice of brand names for residential complexes in india across categories mirrors a society’s preferences. Like Nahar Group has named all its towers on “Flowers” – Iris- Ivy, Mirabilis-Mimosa, Arum-Allamanda, Tilia-Tulipia, Magnolia, Orchid, Burberry-Bryony, White Lily, Water Lily, Laurel, Lilac, Jonquille, Jamaica, Oliva, Oak, Callalily, camellia, Voila, Alba, Frangipani, Fiorello plus many more to come.

In the real estate sector, this is depicted through western-sounding names and to a large extent in the design and architecture of various residential complex in india, commercial and retail spaces. Depending on the type of property, the project name is developed. For premium properties, since the design and master planning is primarily done by international architects , project names also need to reflect and compliment the same, The names of residential complex in india today also tend to align with the architecture of the building which are rendered in a more westernized manner, ie, tall apartment blocks with podiums, arches, etc.