Science and technology have been a great boon to humanity, continuing to simplify our day-to-day activities as time passes. Unlike in the stone age, humans no longer need to live in caves and hunt to survive. Known to be the most intelligent species, the evolution of humankind is one of the greatest blessings of the almighty.
The standard of living has only increased with time, whether it comes to what we wear, what we drive, where we live, or the electronic devices we use. The demand to live luxuriously has risen drastically, and one of the areas to witness this the most is the real estate sector.
With 2023 kicking off, the future for real estate seems bright, with an estimated 25% increase in property sales in metros like Mumbai, which tops other major cities in India, having 44% of the new project launches. Despite the average price per sq. ft set to cross ₹12,000, the real estate in Mumbai is not slowing down, especially in the premium sector.
As the country's financial capital expects a 3% growth in the luxury real estate sector, let's look at some of the reasons.
- Increasing purchasing power and disposable income
- International Influence and the Internet
- Investment value
- Status symbol and sense of pride
Speaking of real estate in Mumbai, especially the luxury category, it’s almost impossible to ignore the ever-growing availability of world-class amenities. Though many of the residential complexes offer the basic amenities, the consumer today is looking for something unique than the general facilities such as
- Fitness centres
- Pools
- Playing area
- Community gardens
- Game rooms
We can expect developers to upgrade their game when buying properties with better amenities and features. Let's look at the top 5 apartment amenities residents can expect by 2024.
1. Charging Stations for Cars
With EV vehicles gaining much traction as time passes, installing a car-charging station would be essential for residential apartments, as this is the way forward.
2. In-Building Laundry Facilities
Though primarily present in many developed countries, this utility is making its way to India, with residents having access to washing machines and dryers.
3. Building Eco-friendly Practices
Quality control checks through ventilation, smart thermostats, tobacco smoke control, and light sensors are some ways to adopt an environmentally friendly approach.
4. Increased Privacy Practices
Smart access is the modern way of ensuring residents have complete privacy, with facilities like key lockers, smart locks, and keyless access control. These help you seamlessly welcome your guests, deliveries, etc.
5. Being Pet-Friendly
Many traditional or old societies aren’t the most welcoming when welcoming owners with pets. Nevertheless, this seems to be changing with modern properties, with developers ensuring designated areas for residents with pets, providing the following facilities.
- Dog parks
- Pet spa/dog wash
6. Providing Co-working spaces
The COVID-19 pandemic has changed lives forever, with working from home becoming the new norm. Ensuring residents have a secluded place where they can work or study, real estate developers today have set up co-working spaces with the necessary furniture, expresso machines, and interiors required.
7. Rooftop Deck
One of the fanciest amenities in the offering from top developers, a rooftop deck is a great space for scenic lovers apart from hosting guests. Late-night walks, bonfires, drinks and barbeque sessions could be fun activities on the rooftop.
It will be interesting to see how far the imagination of real estate developers can stretch in the coming years, as there is no stopping the ever-growing needs of mankind.