Such value addition takes around 10 percent extra expenses while it is helping them to charge nearly 5-8 percent extra on each unit.
Dr Anil Kumar Sharma, president, CREDAI (NCR chapter) said, "In the last 10 years, the Indian economy has expanded to an extent which has increased the income level of the youth, who contribute around half of the targeted market of the real estate developers. As their purchasing capacity has increased, they are well aware of the new services being provided by the developers
in developed nations. Therefore, such end users have started to demand services like, swimming pool, spa, garden, entertainment club etc inside the township that majority of the developers are offering in Delhi-NCR." However, he stressed that while providing such Value Added Services (VAS) a developer needs to keep a tab on the economic viability of the units being planned for end users.
"Generally, a developer devotes around 10 percent of the project cost for such a VAS while in return a confirmed 5-8 percent extra charges can be expected from the end user in return." He said that demand and supply has to be balanced by the purchasing capacity of the buyers.
The CMD of the Amrapali Group further added, "The A-Z demand is on rise in Delhi-NCR due to the work from home culture developing in the Indian metros. If the end user who wants to meet a person for business purposes anywhere outside home he or she can meet that person in the club inside the township. It not only saves time but money as well."
However, developers have expertise in building homes not the swimming pools, spas, gardens, golf courses etc. On asking how do they manage while offering such VAS, Anuj Goel, MD of KDP Infrastructures says, "Developers engage well-known Architects and consultants who are experts in designing exclusive or compact projects based on the target customers. Developers also use its own expertise and experience and hire various agencies like interior designers, vastu experts, and garden designers etc to make the project more acceptable in the market."
Standing in sync with Goel; Vivek Mishra, MD & Technical Head, Premium Pools, a leading swimming pool designer and maker in Delhi-NCR said, "Real estate prices continue to rise and so does the rise in demand for better accommodation. Each house is sold as a dream come true. VAS is an essential part of luxury housing as it increases the saleability of a property. We are providing services to the handful of developers of well repute."
When asked about the expertise and technologies involved in providing such a premium VAS inside a residential townships Mishra added, "One of the signs of a well-designed and constructed pool is clear, sparkling water. And the way to achieve this is, by using the correct equipment for filtration. On the basis of our expertise and experience in the market, we recommend using well-known international make filters, pumps and other pool equipment to our clients."