Mr. Tanuj Shori, one of the dynamic and visionary entrepreneurs of the times, has once again been quoted by The Tribune in its pioneering story entitled Back to Basics that was dated on the 6th of April, 2019. The story covered the luxury residential real estate segment in the country and the quote of Mr. Tanuj Shori, the CEO & Co-Founder at SquareYards, was the following:
In line with this distinct trend, premium housing unit sizes have already shrunk between 12-16% in metros as new-age buyers value location over unit size. Several industry experts also expect that the slow but steady recovery of India’s real estate sector should gain more momentum by end 2019 although positive winds were seen right from 2018 itself.
Mr. Shori’s quote is an insightful one which helps understand the desires of contemporary homebuyers. He emphasizes on location above all else as a key criterion for buying apartments as far as buyers are concerned and unit sizes take a backseat if a prime location is found. This is why unit sizes have come down in key metro cities with developers looking to make housing units more accessible to a wider spectrum of buyers. The mid-luxury housing category, as per experts, should be a major contributor towards the resurgence of luxury realty in the country. Affordable premium housing units or affordable luxury as it is dubbed, should be a major value proposition for a larger number of buyers in the future. Real estate developers will also be reshaping product offerings to cater to them accordingly. This is where Mr. Shori’s insights are invaluable indeed.
Square Yards is a technology-enabled, global real estate aggregator and India’s largest player for primary residential real estate. It’s subsidiary Square Capital is one of the largest marketplace for secured mortgages in India. Square Yards platform offers an integrated consumer experience & covers the full real-estate journey from search, discovery to research, transactions, home loans and post-sales service – fully integrating buyers to an extensive network of 500+ partner real estate developers, and 90+ banks & NBFCs. Square Yards is led by accomplished professionals, ex-bankers, and Ivy school alumni and is backed by the competence of more than 2500 employees in 30 cities and ten countries.