Impact of Good Amenities: The Role of Amenities in Changing Lifestyle Enhancing Real Estate Development Projects.

If you are property hunting, you might have come across many projects that provide various amenities. Confusing, isn’t it? Or if you are a developer, a salesperson, a broker, or just a person interested in real estate and wondering why amenities are important, this blog is for you.
Today, we are going to talk about the most popular/demanded amenities in Mumbai and the Mumbai-Suburban region and understand how they impact real estate as a whole sector. But first of all, let us understand what exactly developers mean when they say “amenities”.

What does “Amenities” mean?

Amenities are the useful or desirable features of a building or a place. Amenities aim to provide comfort and convenience to the residents of the building. Most residential projects in Mumbai have shared amenities. Shared amenities refer to amenities that are shared by the residents of the buildings. Such amenities include Lifts, Swimming Pools, Security Cameras, Guards, etc.
The purpose behind providing amenities is to increase the value of the properties while enhancing the lifestyle of the residents. This also adds to the rental revenue and the direct valuation of the projects.

What are the Most Demanded Amenities in Mumbai?

So, what are the most demanded amenities in Mumbai? What amenities should you look out for if you are considering buying a residential property in Mumbai? The most desired amenities are basic amenities like proper security, lifts, a garden, and a play area for kids. After that, come the luxury amenities which include swimming pools, gyms, and parks. Then lastly come other amenities like sports facilities, amphitheaters, etc.
People in Mumbai like to spend more on a project which has more amenities and is affordable too, and hence, the most popular amenities are basic and luxury amenities. Providing these amenities to the buyers makes the value of the project go up and the lifestyle of the buyers improves as a result too.

Why are Amenities Important?

Okay now that we know what exactly one means by “amenities” and what are the most demanded amenities, let’s see why amenities are important and what all the hype is about.

→ Buyer Satisfaction

First and foremost, amenities directly relate to buyer satisfaction. And when a buyer is satisfied with the development, it is more likely that they will recommend other people to invest in the project too. Buyers usually look at the amenities after the carpet area and layout of the flat. Buyer satisfaction makes a new project stand out from the rest as it acts as a marketing tool as well.

→ Lifestyle Improvement

Mumbai is a city where luxury and lifestyle always wander near the top of the priority list of people. People will pay a little bit more if the amenities are worth it. Remember, they will not blindly pay for any amenities, the amenities must be of use and add value to the quality of their lives. In short, the amenities must improve the lifestyle of the people.

→ Attract Buyers & Tenants

The above-mentioned factors are from the perspective of the buyer, but when we talk from the perspective of the seller or the developer, the very first aim of providing amenities is to attract buyers and tenants. In a city like Mumbai, where the actual size of the apartments is relatively small, pairing homes with extra amenities is sure to attract more buyers.
In Central, Suburban, and Northern Mumbai, where amenities like gyms and swimming pools are not so common, providing such amenities can be a big selling point. Tenants also don’t mind paying more for rent if they get such amenities.

→ Value Addition

Next up is value addition. On the surface, adding more amenities will of course increase the price of homes in a particular project. But doing right, i.e., providing a good combination of amenities, is very important. Providing unnecessary amenities which would be of use to only a few people is not a great idea from a profit-making perspective.
Amenities are a great method of value addition to any project. A wise combination of amenities with proper basic amenities and added amenities for luxury is the sweet spot. The best developers always analyze the needs of the people of a particular area and then plan the amenities according to the needs.

→ Value Appreciation

And finally, we have Value Appreciation. Don’t get value appreciation mixed up with value addition. Value addition refers to the addition of value to the projects by providing proper amenities, while value appreciation refers to the gradual increase in value due to the project being popular and in more demand.
Now, amenities are not the only factor influencing the appreciation in value. But they are a huge part of it. Amenities help increase the value of a project as they directly influence the lifestyle of the residents. They help in buyer satisfaction and hence indirect word-of-mouth marketing takes place. This helps to increase the value of a project and in some cases, the entire location as well.

How do Amenities Help in Enhancing Real Estate Development Projects?

As we saw above, amenities directly influence customer satisfaction and their lifestyles, but they also help in enhancing the quality of the Real Estate sector as a whole. Adding amenities to projects helps developers attract more buyers. Alongside that, it also helps the developers build a brand for themselves. Residential properties in Mumbai are very easy to find, the difficult part is getting the client to buy the property. This is because there are many factors that a buyer considers before buying a new property in Mumbai. Reviews about the project and the developers are at the top of the list of things that buyers consider before deciding to buy a house in a new project.

All factors considered, if you are looking to buy a house in Mumbai or are searching for the best builders in the city, look no forward! At Right Channel Constructions, we prioritize client satisfaction and provide the best amenities and connectivity at affordable prices. We aim to improve the quality of life of the people in Mumbai and stay among the best developers in Mumbai at the same time!