Apartment living an emerging trend in Ludhiana real estate

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Mr.Vivek Sachdeva, Vice President - Sales, Hero Realty and Ms.Monaa Chadha- Sales Head- Ludhiana of Hero Realty addressing the media persons at Ludhiana on Wednesday.

Ludhiana, May 24, 2018: Emerging urban living trends are making way for apartment living in the Ludhiana realty market, resulting in an increased adoption of apartment living over individual homes.

Commenting on this changing customer preferences, Mr.Vivek Sachdeva, Vice President - Sales, Hero Realty said, “The shift to apartment living resonates with the current socio-economic environment resulting in home buyers demand for amenities like round-the-clock security, power back-up, adequate parking spaces, fire safety and waste treatment. Apartments make a value proposition whereas all these amenities in an individual home would actually incur an extra cost amounting to about 2-3% of the property value.” “What also makes an apartment a better buying option than an individual home is the fact that it is relatively easier to get a home loan for an apartment than an individual home. The difference in the cost of living between an individual home and apartment is also making the city residents go for the relatively inexpensive option of the latter,” he added.

Addressing a press conference here today, he added the apartment living concept offers not just civic amenities but also a sustainable living model with solar panels on top of every building and simultaneously having provision for rain water harvesting thereby contributing to sustainable environment. Apartments are finding a huge following in the millennial crowd that has become extremely environmentally conscious and are eager to adopt a sustainable lifestyle.

Eyeing the growing potential of apartment living in Ludhiana, Hero Realty, the real estate division of Hero Enterprise, one of India’s most reputed business groups is offering a range of lifestyle features in its flagship real estate housing project, Hero Homes Ludhiana. This is a RERA registered project and offers 2, 3 & 4 BHK apartments starting from INR 46.81 Lacs. Situated on Sidhwan Canal Road, the project has12 towers with 986 units spread over a total land area of 16.5 acres. The possession for the project will be offered in three phases; the first phase of which is under advance stage of construction and planned for commencement of handover in 2019.

Mr.Vivek Sachdeva said, “At Hero, we have been market leaders in various categories because of our cutting-edge innovations, customer-centric approach and focus on sustainability. We bring the same philosophy to Hero Homes, Ludhiana and endeavor to offer unmatched value to our customer.”

Hero Homes Ludhiana is offering its residents the elements of fine-living as found in individual homes while being cradled in the pristine lap of nature amidst a vibrant community. Hero Homes also offers various amenities to the residents that are within the boundary of the project. These amenities include barbeque patio, play fields, banquet hall, kids play area, cricket pitch, senior citizen sitting area, yoga court, amphitheater, fruit tree court, jogging track, cycle track, shopping center, clubhouse complex, gym, swimming pool etc. There are special provisions for the differently abled and senior citizens. Social amenities like various schools and hospitals are also located in the vicinity of the project.

To a question, Mr. Sachdeva told that Ludhiana city was on the path of complete transformation as the city was included in the list of smart cities across the city.

He told that the project Hero Homes, Ludhiana was launched in the year 2015 and they now plan to complete the first phase in 2019. He said they wanted to handover a total 278 apartments to respective buyers under the first phase next year (2019). He further told that the project would be completed under three phases and it was likely to be completed by end of 2022.
On being asked, he told that the project Hero Homes, Ludhiana had a lot of uniqueness. He told that they had given more stress on promoting community culture so that all inhabitants should know each other in a gated complex. He said more stress had been given on providing open space in the project. Almost 2/3rd portion of the total area of the project had been kept open with greenery and trees. Best architectural facilities besides better and latest facilities were being made available in the project. He told that they were making all out efforts to complete the project within time frame rather well before the time.
Replying to a question, he told that it would be incorrect to say that there was no effect of some fundamental changes in the rules and regulations in the last one or two years in the real estate sector. He admitted that the sector had got affected to some extent due to RERA, demonetization and GST. However, the things had now started settling, he said, adding moreover, mostly the unorganized sector had got affected due to the fundamental changes.

Ms.Monaa Chadha- Sales Head- Ludhiana of Hero Realty was also present.

Date: 
Thursday, May 24, 2018