Millennials and Gen Z are transforming the luxury real estate market: Neeraj K Mishra

Increasing environmental awareness and drastic climate changes, in recent times, have encouraged affluent buyers to prioritize eco-friendly features in their luxury homes. Government regulations and initiatives are also playing a significant role, says Neeraj K Mishra, Executive Director, Ganga Realty.

In an exclusive interview with Sanjeev Sinha, Mr Mishra expresses his perspective on the significance of sustainability as a central element in contemporary luxury projects, as well as the role of artificial intelligence in enhancing project efficiency and minimizing environmental impact. Excerpts:

Sustainability has become the centerpiece or attraction point for luxury projects in Gurugram significantly. Why do you think that’s the case?

Sustainability is not a selling point; for us, it’s a wholesome value system that our projects are a mirror of. However, I agree with your analysis that it has emerged as a cornerstone of luxury projects in Gurugram due to an amalgam of many factors. Increasing environmental awareness and drastic climate changes, in recent times, have encouraged affluent buyers to prioritize eco-friendly features in their luxury homes. Government regulations and initiatives, such as Gurugram’s green building norms, have also played a significant role. Moreover, luxury buyers now seek spaces that promote health and wellness, and sustainable features like natural ventilation, green spaces, and non-toxic materials have become essential. Sustainability has become a status symbol, distinguishing luxury projects and reflecting owners’ social responsibility. Additionally, eco-friendly buildings retain value and appreciation over time, appealing to investors.

Innovative sustainable design has also become a common sight in luxury, blending high-end aesthetics with environmental responsibility. Ultimately, developers are catering to the growing demand from eco-conscious buyers willing to invest in sustainable luxury. By integrating sustainability, luxury projects in Gurugram differentiate themselves, offering a unique blend of opulence, social responsibility, and environmental stewardship that resonates with discerning buyers. This shift has transformed sustainability from a niche consideration to a mainstream luxury amenity.

Also Read: NPS Calculator: How much to save in NPS today for a Rs 1.5 lakh monthly pension post retirement?

Also Read Luxury housing demand soars in India amidst evolving buyer preferences How the rise of AI in the EV industry drives the need for skilled workers? Time, tide and AI: In his latest, Harari insists artificial intelligence is societal force and we are in it together Smart homes will soon become a necessity rather than a luxury: Vivek Singhal

Which pockets in Gurugram have seen a particular rise in sustainable and eco-friendly housing societies or projects?

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