Concept Homes gaining prominence across Tier II cities

The trend for ‘Concept homes’ is no longer relegated to major cities in India with many Tier II as well as a few Tier III cities joining the bandwagon in developing such homes. And what is really unique about such homes is that they are developed on concepts that are far-fetched from what the city is generally known for. These are ambitious projects that are developed by prominent developers based on concepts alien to the topography and conditions prevailing in a particular city. They are primarily aimed at high-end buyers with high disposable incomes, and is expected to change the realty scenario in these cities.

Tier II cities with concept homes

Some of the major Tier II cities in which developers have already come up with concept homes are Lucknow, Kochi, Meerut, Mathura, Kanpur, Indore, Bhiwadi, Mohali and Haridwar, to name a few. Diverse concepts have been inculcated in residential projects across these cities so as to give its residents a unique living experience. Some of the unique concepts adapted in residential projects are a hill-station-themed project in Indore, a sports-themed project in Meerut, an astrology-themed project in Haridwar, a Venetian-themed project in Mohali and a project with lush green surroundings and water bodies in Bhiwadi.

‘Eco-friendly’ project in Indore

One of the important concept residential projects in Indore is the ongoing ‘eco-friendly‘ Shalimar Swayam being developed by the Mirchandani Group. It offers residential apartments in 1,2 and 3 BHK configurations across various budget ranges with all important infrastructure facilities in the vicinity. The important aspect about the project is that about 70 per cent of the project consists of open spaces renowned for its lush green surroundings. Being a one-of-its-kind in the state, it is the first project in Madhya Pradesh to obtain a green rating from IGBC (Indian Green Building Council).

‘Sports’ based project in Meerut

The residential project in Meerut with emphasis on sports is being developed by Delhi-based Supertech called Meerut Sports City. It combines the best of modern architecture along with sports facilities in a sports complex which is coming up across a sprawling 12 acres. The uniqueness of the project is that it includes a full-size cricket stadium, a boating lake as well as large expanses of green lawns in the midst of high-rise residential apartments and well-designed villas. The facilities here can be utilised for water-sports activities and golf besides for club-level cricket matches.

‘Astrology’ based project in Haridwar

The residential project called Krishna Nakshatra Homes based on the concept of astrology is coming up in Haridwar, being developed by Krishna Infracon. The project includes spiritual and astrological parks based on the concept of 27 Nakshatras associated with a particular tree. Low-rise apartments and villas are included in the project which combines the best of religious and modern lifestyle features. Prices of projects here range between Rs 2,000-2,500 per sq. ft.

‘Venetian’ concept project in Mohali

There are various other projects in other Tier II cities incorporating concepts of other cultures. Venetian Spaces is a concept residential project in Mohali developed by Manohar Singh & Co. It is a premium residential project which is developed including features of Roman architecture, reminiscent of Venetian villas. Residential units here are priced between Rs 2,000-2,500 per sq. ft.

‘Green’ concept project in Bhiwadi

Terra Castle, another ‘green‘ concept residential project by Renaissance Realty in Bhiwadi is renowned for its vast open spaces and lush green surroundings. There are many water bodies as well which enhance the appeal and visual beauty of the project landscape. Prices of residences here range from Rs 1,540 per sq. ft. to Rs 2,605 per sq. ft.

Future Prospects

The trend for concept residential projects which has already pervaded all major cities in India is all set to gain prominence across major Tier II cities as well. However, the development of such projects should be aligned with the growth of infrastructure in such cities so that it has a direct impact on the realty market for such projects.