Globalization is impacting every sector and the effect is most visible in Indian Real Estate. Builders are luring their customers by joining hands with several well known global brands of architecture, designing, etc.
Since past 2-3 years, a new trend of discrete preference for international flavor is taking over the Indian real estate market. The NCR based real estate developers are joining hands with the global brands especially with their keen interest in upper middle class, higher class and Non-Resident Indians (NRIs). Now, globally known brands are attracting more clientele be it in residential selections or hospitality choices. This move is helping builders to charge approximately 30-35 percent higher after an extra investment that ranges from 5-7 percent.
R K Arora, CMD of Supertech Limited reviews this involvement of monetary variables in such tie-ups as, "Projects with big brands attached to them are costlier than the non-branded ones. While the price differs from project to project, its location, and also the value of the associated product, there is a price difference of 30-35 percent between branded and other projects."
Mentioning the details about the international tie-ups that Supertech has inked Arora added, "Supertech's latest tie-up is with yoo Worldwide LPP, a UK-based global design, development and branding firm. Yoo will work with the company to create two residential projects in Sector 68 and 79 in Gurgaon. The global brand will deliver unique design concepts to each project that will reflect the kind of innovative, international design style that is synonymous with the firm."
The review from Arora further reveals that in last one year, the company has tie-ups with two international brands - Armani/Casa and Disney to provide design concepts in company's projects, Supernova (Noida) and Fable Castle (Yamuna Expressway) respectively.
On kind of audience targeted through such projects, Arora of Supertech reviews, "Such luxury properties are targeted at that segment of inhabitants who prefer the conveniences and status, value of luxury projects designed, marketed and often managed by international hospitality or signature designer brands. The segment also includes HNIs, upper middle class, highly placed young business owners and professionals."
He added that locations dominated by enterprises of overseas origin like Gurgaon, Noida and Greater Noida are ideal places for projects in collaboration with global brands as the employees exposed to international lifestyle aspire such co-branded properties ensuring amenities of international standards.
Other collaborations of Supertech Limited includes Knight Frank of London for Consultancy, Benoy of London for Concept and Architecture, Golder Associates of Autralia for Geo-technical Engineering, Cracknell of Dubai for Landscape Consulting, Buro Happold of UK for Structural Consulting and MEP, RWDI of Canada for Consulting and the list of such collaborations goes on and on.