How Changing Lifestyles are Redefining Homeownership in 2024?
The real estate market in India is evolving rapidly and this evolution is driven by the changing lifestyles that are redefining homeownership in recent years. Technological advancements, changing lifestyles, and increasing demand for high-quality living environments have changed home buyers’ behaviour in 2024.
The real estate market has witnessed a substantial transformation in 2024 with a 40% surge in the demand for luxury housing Property in Delhi NCR. On the contrary, the demand for affordable housing has declined by 20%. This shows the shift in consumer preference and market dynamics with a significant increase in the sales of houses above 1.5 crores price.
However, this surge in the luxury housing market can be attributed to increased disposable incomes and a growing preference for high-end homes. In NCR, Noida, Greater Noida, Gurgaon, and Ghaziabad are the prime locations for luxury housing with a blend of modern amenities, premium lifestyle choices, and strategic locations.
With the changing lifestyles, builders come up with some innovative solutions for residential projects. Some of the initiatives taken by the renowned builders are as follows –
1. Green and Sustainable Living –
In 2024, green living and sustainability are at the forefront of residential development, and today developers are increasingly focusing on eco-friendly practices to meet today’s homebuyers’ preferences. For sustainable living, the builders are focusing on the following factors –
A. Green Building Certifications –
The real estate builders are building the properties with LEED or GRIHA certifications which indicates the adherence to green building standards
B. Energy-Efficient Features –
The builders are developing energy-efficient homes with energy-efficient lighting, water-saving fixtures, and solar panels.
C. Urban Green Spaces –
The real estate developers are offering more green spaces, parks, and community gardens to enhance the quality of life for the residents,
The Green Living Practices offer the residents with the following benefits –
- Healthier Environment: Another benefit of green spaces in homes is improved air quality which contributes to better health.
- Lower Utility Bills: Living in energy-efficient homes reduces electricity and water consumption along with the utility bills,
- Higher Property Value: The sustainable features in the homes can increase the long-term value of your investment.
Some of the best property investment options with Green & Sustainable Living are –
- ACE Terra, Sector 22D, Yamuna Expressway
- Lodha Woods, Kandiwali East, Mumbai
2. Smart Homes & Technological Integration –
Smart homes and technological integration are becoming increasingly popular among home buyers today. Today’s modern home buyers prefer to buy residences that feature advanced technology to enhance security, convenience, and energy efficiency. Some of the features of the smart homes are as follows –
A. Home Automation –
Home automation in today’s modern residences controls lighting, heating, and security systems through mobile apps or even with voice commands.
B. Smart Security Systems –
Advanced security features in the residences include smart locks, video doorbells, and remote surveillance.
C. Internet of Things (IoT) –
IoT devices in the houses connect various home systems while offering seamless integration and control.
Here are some of the Advantages of Smart Homes –
- Convenience: Smart homes add convenience as the residents can manage home functions from anywhere using their smartphones.
- Safety: The enhanced security systems with smart home automation protect against intruders and emergencies.
- Efficiency: Smart home automation optimizes energy use which eventually leads to cost savings.
Some of the examples of residences with Smart Home Automation are as follows –
- Godrej 24, Hinjewadi, Pune
- Godrej Air, Sector 85 Gurugram
3. Resort Themed Homes –
Resort-style living around the World is evolving, growing, and luring new home-buyers in 2024. However, the exclusive development of resort-style apartments can vary widely depending on the different tastes of the home buyers. Some of the features the resort-themed projects offer are as follows –
A. Resort-Style Lifestyle –
The residential projects designed based on a resort theme offer a resort-style club lifestyle with a terrace garden, meditation pavilion, and many other luxury facilities within the comfort of your home.
B. Low-Density Projects –
The best part about the resort-themed residential enclaves is that they are low-density projects that offer the feel of ultimate luxury to the residents.
C. Abundance of Greenery –
The resort-themed residences are designed with ample greenery, an abundance of natural light, and fresh air to make sure that the residences have a healthier living environment.
Here are some of the benefits of choosing the resort-theme apartments are as follows –
- High Returns: The luxury properties of resort-style apartments often appreciate faster and offer high rental yields.
- Prestige: Owning a luxury resort-themed home will enhance your status and lifestyle.
- High-Quality Living: The builders offer top-notch amenities and services in resort-theme-based projects.
Some of the examples of the resort-themes residential projects –
- Lodha Belmondo, Pune Mumbai Highway
- Eldeco Live by The Greens, Sector 150, Noida
4. The Shift to Suburban Areas –
People in 2024 prefer living in suburban areas as urban congestion increases, many people recently are moving to suburban areas to have a more peaceful living environment.
A. Affordable Housing –
Suburban areas offer more affordable housing property in Delhi NCR as compared to the main areas of the city.
B. Better Quality of Life:
Another benefit of living in suburban areas is that, they provide a quieter and more spacious living environment.
C. Improved Infrastructure:
Many suburban areas of the cities are witnessing significant infrastructure development that offers a better lifestyle to homebuyers.
Some of the Popular Suburban Areas in Delhi NCR are as follows -
- Dwarka Expressway – Dwarka Expressway is the key area for future growth with planned residential and commercial projects.
- Yamuna Expressway – Yamuna Expressway is one of the major suburban areas that offers numerous residential options with world-class amenities and amazing infrastructural development.
Some of the best property investment options in these suburban areas are as follows –
- Max Dwarka Expressway, Sector 36A, Gurgaon
- Krisumi Waterside Residences, Sector 36A, Gurugram
- ACE Terra, Sector 22D, Yamuna Expressway
Conclusion –
The real estate market growth 2024 is significant with the home buyers’ changing behaviour as the buyers in 2024 focus on sustainability, smart home automation, luxury, and the locality of their house. Read our blog to learn about the New Launch 3BHK/4BHK Apartments in Gurugram for Sale, if you’re looking for a house in Gurugram or Delhi NCR.
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