Supply & Demand of Luxury Residences in Sarjapur Road are Dictated by Start-up Generation

Supply & Demand of Luxury Residences in Sarjapur Road are Dictated by Start-up Generation

Many developers have adopted marketing tools to balance the supply and demand of new apartments in Southeast, Bangalore for the start-up generation. Should you wish to live in a luxury bubble, look for significant developments in the segment of 3 BHK apartments in Sarjapur Road.

Premium apartments are in demand

People with high net worth have increased. These are the budding entrepreneurs who have led the homebuyer bandwagon for premium apartments in the city.

The new generation needs private space and are ready to shell out the dough for it. Unlike their parents who managed in the space crunch, they have moved on from their nest to bigger places. As the need for privacy grows, so does the demand for the appropriate spaces.

Bangalore has embraced start-ups that come from different parts of India. Even the local youngsters have set their eyes on better living quarters. As the young population increase in the city, they have set demands for the type of apartments they want. They give premium to the privacy and that accounts for several developers heeding to this request while building apartments. No wonder, when they announce the projects they use marketing tools that target this generation of buyers.

Why go the extra mile to woo buyers?

Understanding the psyche of the new age home owner is a must. Developers need to adopt new strategies to balance the new demand and supply of residential properties.

Recently, when a luxury residential project was launched in the Pink City, Jaipur, the developer invited 3,510 Hindu priests to perform the puja and get divine blessings for the buyers. This was the very number of apartments of the residential enclave to be sold-i.e. one priest per apartment.

Bangalore, being a city of God loving citizens also seeks divine blessings. Such new beginnings are quite good to make buyers aware of projects before buying apartments in Sarjapur Road, Bangalore or in any other part of the city.

Even a luxury abode requires divine blessings. When a builder launches luxury projects offering freebies to the buyer, the demand for new homes rises. In Bangalore itself a dance fiesta was created by a leading developer to get buyers to take interest in their properties. Getting the genuine buyer on-site is being seen as an important exercise to make the supply of inventory more quickly.

Beyond the Bhoomi Puja
Lies the actual need of luxury

After the developer has created hype around a project, it is time to focus on the nitty-gritty that buyers look for. Not every buyer may need the swimming pool but the gym and garden are essential to get any buyer hooked. The apartment interiors matter to the budding buyer.

The new generation of homeowners like to have pads that let them get personal spaces- Perhaps a cool balcony from where they can look up at the sky and dream or look below the horizon line to get a glimpse of reality.

Being a generation aware of their needs, they know which building materials will cut the glass ceiling for them. Their demands are met by the builders who try to get architects, engineers, and interior experts to match the luxury quotient for premium apartments.

New apartment, new lifestyle
The latest mantra is to sell inventory that introduces a novelty to the residents.

Just having an event to launch and attract the buyer will not get bookings. It is done with further introduction to the new lifestyle that a residential enclave promises. Developers who promise lavish lifestyles are realistic in their offerings as the RERA rope tightens around them.

A luxury project cannot be sold like an affordable housing scheme. It has to be innovative and designed to meet the sensibilities of the prospective buyer. Today’s prospective buyer knows what goes in the international market and demands the same in the city they live.

Lifestyle product and not property is sold to the buyer
Buyers are often invited keeping in line with the limited signature homes.

Special invites are sent out to potential HNW clients to check out the projects offered by a builder. The idea is to sell a concept of living and not just a property. This is crucial to get interest of the right buyer profile.

A luxury home developer will think of ways to present the project in a new light. The buyer profile is typical, which is exposed to global living and parameters for luxury living. Many start-up owners who have worked abroad and lived for a considerable period know what they are looking for in a premium apartment they wish to invest in.

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