5/14/2019 Senior Living And Student Housing To Make A Niche In 2019-Niranjan Hiranandani - BW Businessworld www.businessworld.in/article/Senior-Living-And-Student-Housing-To-Make-A-Niche-In-2019/14-05-2019-170472/ 1/6 14 May, 2019 by Niranjan Hiranandani Print this article Font size - 16 + Senior Living And Student Housing To Make A Niche In 2019 There is a potential for these niche segments to grow, these are among the emerging trends of 2019. Photo Credit : BW Archives How does one identify a ‘niche’ segment? In real estate, it is about a new trend, which is synonymous with change – and, change is imperative for growth. For any economy, organization, industry or an individual, constant change in form of evolution is vital and crucial. It is the economics of demand and supply which sees changes in sync with demand patterns and needs of society. So, Identifying new segments to cater to the niche demands of niche end-user audience results into what we refer to as the niche market segment. A business organization which has the ability to foresee these niche trends and create products in sync with those development lines end up being the ‘trendsetter’. ‘Niche’ segments in real estate are pointers towards future demand trends. Among the new emerging segments are senior citizens and students housing, both need to be catered with a new kind of product mix. The need for senior citizen homes is an outcome of a rapidly increasing trend of nuclear families. Also, there is a growth in trend to seek international exposure either through a formal education or career options, which forces the next gen to settle in abroad for a longer period. All these factors in the rise of a new set of audiences whose requirements need to be catered with a different product mix. This niche audience looks for an intelligent and easy to operate ‘Smart Home’ as a value addition in terms of facilities and amenities. The Homes which can provide a comfortable environment to suit their physical and mental wellbeing is the peculiar demand coming up. Many mixed-used integrated township projects like ours offer truly a community living experience by tweaking the products on offer to fit in their demands. The enhanced home automation amenities like CCTV camera, live streaming video feed, remote driven appliances, voice assistance devices, tracking surveillance will be preferred a choice of the PIO and NRI home buyers. These digital amenities ensure a lot of safety and security of their other family counterparts in India. Also, the concept of community living is associated with facilitating best in class socio-civic infrastructure provided to the home buyers. Quick accesses to healthcare, retail, entertainment, facility management services along with green ecosystem for rejuvenation are necessitated for their healthy wellbeing. There are a couple of developers working on this concept to cater to this segment. Another emerging niche segment witnessed is the StudentHousing. This is a product different from hostels and temporary/ rented housing. Here the student and their family move into a project which offers academic, sports and cultural facilities all at under one roof as a one-stop destination. These will augur well for students who can leverage on multiple aspects to brighten their future. In this scenario, it is winning situation for student and family as they enjoy community living within the project. In a similar manner, this logic makes sense to families of students who display proficiency and skill, families who are from rural or semi-urban locations who see the value in making the move to a housing project which offers proximity to different national Like 1466078666_PacuLh_retirement_SS470.jpg Quick Bytes 5 Be Sma Dua 20,0 re Top Veh Indi re 3 Su Entr Had Exit Bus Fou re M3M Polo Suites R M3M India launch apartments in M3 sector 65 Gurgaon BW TV Add chal holis re Pors Roa Plac Inte re Vivo Sam Top 10 Mutual Funds for Retirement 10 Mutual Funds for Retirement In India Top 10 Mutual Funds for Retirement In India May 14, 2019 Category Jumplist News Columns Interviews BW Communities Events BW TV Subscribe to Print Custom Search
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5/14/2019 Senior Living And Student Housing To Make A Niche In 2019-Niranjan Hiranandani - BW Businessworld
www.businessworld.in/article/Senior-Living-And-Student-Housing-To-Make-A-Niche-In-2019/14-05-2019-170472/ 1/6
14 May, 2019by Niranjan Hiranandani
Print this article Font size - 16 +
Senior Living And Student Housing To Make A Niche In 2019
There is a potential for these niche segments to grow, these are among the emerging trends of 2019.
Photo Credit : BW Archives
How does one identify a ‘niche’ segment? In real estate, it is about a new trend, which is synonymous with change – and, changeis imperative for growth. For any economy, organization, industry or an individual, constant change in form of evolution is vitaland crucial. It is the economics of demand and supply which sees changes in sync with demand patterns and needs of society.So, Identifying new segments to cater to the niche demands of niche end-user audience results into what we refer to as theniche market segment. A business organization which has the ability to foresee these niche trends and create products in syncwith those development lines end up being the ‘trendsetter’.
‘Niche’ segments in real estate are pointers towards future demand trends. Among the new emerging segments are seniorcitizens and students housing, both need to be catered with a new kind of product mix.
The need for senior citizen homes is an outcome of a rapidly increasing trend of nuclear families. Also, there is a growth intrend to seek international exposure either through a formal education or career options, which forces the next gen to settle inabroad for a longer period. All these factors in the rise of a new set of audiences whose requirements need to be catered with adifferent product mix. This niche audience looks for an intelligent and easy to operate ‘Smart Home’ as a value addition in termsof facilities and amenities. The Homes which can provide a comfortable environment to suit their physical and mental wellbeingis the peculiar demand coming up. Many mixed-used integrated township projects like ours offer truly a community livingexperience by tweaking the products on offer to fit in their demands. The enhanced home automation amenities like CCTVcamera, live streaming video feed, remote driven appliances, voice assistance devices, tracking surveillance will be preferred achoice of the PIO and NRI home buyers. These digital amenities ensure a lot of safety and security of their other familycounterparts in India. Also, the concept of community living is associated with facilitating best in class socio-civic infrastructureprovided to the home buyers. Quick accesses to healthcare, retail, entertainment, facility management services along with greenecosystem for rejuvenation are necessitated for their healthy wellbeing. There are a couple of developers working on thisconcept to cater to this segment.
Another emerging niche segment witnessed is the StudentHousing. This is a product different from hostels and temporary/rented housing. Here the student and their family move into a project which offers academic, sports and cultural facilities all atunder one roof as a one-stop destination. These will augur well for students who can leverage on multiple aspects to brightentheir future. In this scenario, it is winning situation for student and family as they enjoy community living within the project.
In a similar manner, this logic makes sense to families of students who display proficiency and skill, families who are from ruralor semi-urban locations who see the value in making the move to a housing project which offers proximity to different national
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5/14/2019 Senior Living And Student Housing To Make A Niche In 2019-Niranjan Hiranandani - BW Businessworld
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and international education campus which would ensure better and higher education are looking for this niche type of homes.This niche has been created by a well-defined need for housing for such students and their families. It is about a home availableat a feasible rate – and with the ecosystem suitable for the students’ bright future.
This is a very different segment and we have realized that there is a product requirement in terms of location which is close togood academic institutions, a place which offers good connectivity, infrastructure, social surrounding, entertainment, andsecurity. This is a niche product, which will fulfill the requirement of this new emerging segment.
Not just as a business opportunity, I see these upcoming changed demand segments from a different perspective. At theintegrated mixed-used townships we create, we focus on Community Living, and senior citizens as also families of studentslooking for better academic facilities are an integral part of that community. I would look upon both these niche requirements assegments which can be created to be a part of the township, rather than create a ‘home for the aged’ or a ‘studenthousingcomplex’. There is a potential for these niche segments to grow, these are among the emerging trends of 2019.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of thispublishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thoughtto represent official ideas, attitudes, or policies of any agency or institution.
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