New-Age Spaces Brought to Life Through Curated Design
What You Need to Know
- 24 March, 2023
Consumer behaviour patterns are ever evolving, and real estate is no different. Developers are aware of this transformation and need to design future-ready living spaces to appeal to the altered buying preferences of end-users. In the past, there was a preference for affordable housing and compact sizes. However, the new lifestyle calls for large spaces that cater to the modern-day consumer needs of working and studying from home. We see an upward trend in designing wellness living homes that allows more scope for ventilation and biophilic designs.
Beyond the floor plans and the square feet, innovative design redefines how consumers and spaces come together. A well-designed project not only maximizes efficiency but also enhances the overall appeal and functionality of the space. The ‘Customer Centric’ approach has driven developers to execute innovative paths through efficient construction designing and planning, wastage avoidance and eco-friendly designs. Design is the backbone of any project, ensuring that the space is utilized efficiently without compromising aesthetics, functionality, or profitability.
From the developers’ point of view, design optimization would mean improving the efficiency ratios and making the most out of the chargeable FSI with the highest productivity. Ratios like FSI to carpet and FSI to construction would measure design efficacy, especially in competitive markets like Pune, Hyderabad and Bengaluru. The design and layout would give the velocity and premium pricing that would then determine optimum project profits. Better designs, in short, minimizes cost, maximizes revenue and becomes the basis of project cash flows and profits or loss. Hence, better product design is essential for both customer experience and project profitability.
A good product is the perfect collage of efficient floor plans, beautiful landscapes, internal specifications and amenities. Designing a good product in real estate is making the product liveable and niche for the customer. An optimal design becomes the game changer for the developer to win over the competition and customer loyalty.
To sum up designs are not to be derived from gut feeling but proper research of consumer behaviour, buying patterns and preferences via various touch points and the journey to profitability can be achieved by effectively executing the product design.