In a market where developers are jostling for mind space as well as market share, innovation is no longer a value addition but a necessity, and high-end homes are no exception to the rule.
One such innovation being offered to lure the discerning and demanding homebuyer is the concept of themed homes. They offer unique living, landscaping and architectural ambience, and they tap into the aspirations of owning a designer home. So from European-themed villas and properties that tie up with the world’s best designers and brands to themes based on various sports, developers are going all out to offer something that will cater to international standards and the luxury buyer’s tastes. This also makes for a great business model, considering themed residences can fetch premiums as high as 25-30 per cent, with the cost of homes ranging anywhere from Rs10 million (about Dh594,000) to Rs750 million.
Cultural facades
Developers such as Emaar MGF and DLF have used architectural themes and cultural elements from different countries to create Mediterranean-, Mexican-, Spanish- and Arabian-themed homes, among others. Such villas, available in cities including Mumbai, Pune, Bangaluru, Delhi, Gurgaon and Chennai, are large, spacious and lavish and can have between four and eight bedrooms. And they’re especially popular among non-resident Indian (NRI) buyers.
Kishor Pate of Amit Enterprises Housing explains why. “For those who seek a radically different lifestyle, the country-based theme holds far more fascination. For instance, the Mediterranean theme has seen quite a bit of action in India. At Lavasa, near Pune, an entire mountain range is being transformed to evoke the peaceful grandeur of Venice. The trend for themed homes in India is bound to increase as buyers of luxury homes increasingly look for unique points of differentiation in projects. The demand for such homes among NRIs is particularly noteworthy. After all, such projects allow them to replicate [in India] the lifestyles they have grown accustomed to abroad,” he says.
Sports themes remain another favourite. While players such as DLF and Lodha Group have experimented with large format luxury golf-based living communities, developers are now experimenting with other sport-based projects. M3M India, for instance, has come up with a polo-themed project. The M3M Polo suites offer exclusive concierge services to residents, which include leasing horses to interested polo players.
Nirmal Lifestyle has tied up with the United States Tennis Association to set up US Open tennis courts and club houses at its 20 Lifestyle Cities in India. The developments feature a fitness centre, baseball court, swimming pool and badminton court. The jogging and cycling track is placed above the 40th floor and is open to tenants 24 hours a day, seven days a week. Nirmal Lifestyle has also entered into an agreement with Discovery Enterprises International to launch eco-friendly properties in the country. Nirmal Lifestyle’s Discovery-branded clubs will be promoted by Discovery Channel to convey the message of ‘greenovation’ to its viewers. The group has finalised plans to develop Lifestyle Cities in Mumbai’s Thane, Kalyan and Dombivali areas, as well as in Pune and Indore. “Our objective in tying up with the greatest sporting brands such as the US Open is that it exemplifies the values and lifestyle we want people to experience when they choose to stay in our Lifestyle Cities,” says Dharmesh Jain, CMD, Nirmal Lifestyle.
Homestead, the London-based real estate player, has come up with the Michael Schumacher World Tower (MSWT) in Gurgaon. It will feature a cantilevered helicopter platform allowing for VIP access, a glass dome at the top of the building and a duplex penthouse. The development will also include a museum and a café dedicated to the Formula 1 star. Manoj Shrivastava, COO, Homestead Infrastructure, says, “The MSWT personifies the character of a winner, a champion, a leader, and hence, who better could we think of than Michael Schumacher himself to be associated with the project.” During the launch of MSWT, Schumacher said, “[The tower’s] uniqueness lies in the fact that it draws inspiration from this winning thought of evolution and growth, both emotionally, professionally and physically.”
Some themes though have nothing to do with luxury or sport. They tap into the inner child. Speaking about Sunteck City and its Disney-inspired rooms, Kamal Khetan, CMD, Sunteck Realty, says, “[In] our experience, families spend 10-15 per cent of their overall interiors budget on their kids’ rooms. Also, buyers today are demanding properties that have attached recreational areas.”
Children and families can choose from their favourite Disney stories or characters and rooms will have furnishings, home decor products, bedding, bath fittings and more branded with this. Exteriors can also have Disney-inspired recreational areas, such as a swimming pool, play zone, party and activity area. “Branded residences are a hugely successful concept internationally and are now picking up in India. Globally, Disney has been present in the real estate market and this association is a step toward taking our in-home category in India to the next level,” explains Roshini Bakshi, Managing Director, Consumer Products, Retail and Publishing, Disney UTV.
The Lodha Group has an exclusive partnership with yoo inspired by Starck for Mumbai’s first signature residences that bear the mark of the God of Design Philippe Starck. Yoo inspired by Starck will design the residences and common spaces of Lodha Evoq, a 63-storey luxury tower that will have exclusive designer residences with private pools, gardens and select penthouses, featuring personal elevators. Abhisheck Lodha, Managing Director of the Lodha Group, says of the partnership, “It is a privilege for us to partner with Yoo inspired by Starck, famous for unique developments across the globe. Lodha Evoq is designed for those who know exactly what they want in life and are open to boldly expressing their choices. The vivid colours, multiple decor themes and the passion of Yoo inspired by Starck are about living bold.”
The Trump card
Panchshil Realty has a winner in its kitty too — the launch of Trump Towers Pune in Kalyani Nagar, Pune. “Trump Towers Pune will be an amazing building in one of the hottest locations in India,” said Donald Trump Sr during the launch. With approvals ready and construction under way, the development is expected to be completed by 2015. “Luxury lifestyle is fast catching up in India and with the growing number of high-net-worth individuals in the country, we have realised that our brand adds significant value to ultra-luxury real estate developments.”
