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Design-driven demand: Global architects sought in India's luxury real estate
India’s undiminished appetite for premium and luxury homes has driven demand for global architects, with project design now emerging as a pivotal selling factor for developers and a crucial consideration for buyers seeking overseas living standards at their condominiums in Mumbai, Bangalore or Delhi-NCR.
Singapore’s Andy Fisher Workshop, Eco-Id Architects, HBA Designs, New York’s KPF and LERA consultants, Hong Kong’s Ptang Studio, UHA London, and global firm Benoy are among the architects engaged in multiple residential projects across Delhi-NCR, Mumbai, Bangalore, and Hyderabad.
"The landscape of Indian residential real estate is undergoing a significant transformation, reflecting a shift in customer expectations towards global living standards. Well-travelled and globally aware audiences, owing to global exposure, seek to experience the best of worldwide design and innovation within the comfort of their own country. International designers bring in the global flavour with design & experiences that cater to these expectations,” said Ramesh Ranganathan, CEO, K Raheja Corp. Homes.
Developers collaborating with global architecture firms include Tata, DLF, Tarc, Smartworld, MVN, and Elan, among others, with industry experts noting that more Indian developers are currently in discussions with leading global architects.
"In today’s globalised world, the collaboration between real estate developers and international architects and designers with exposure to good design practices and developments the world over can lead to more innovative, competitive, and successful products that have a potential to make a significant social and economic impact both domestically and internationally,” said Amar Sarin, MD & CEO, TARC Ltd., who has partnered with Andy Fisher Workshop, Singapore and SHMA, Bangkok, for the TARC KAILASA, Patel Road project.
The trend plays into the growing demand for upscale living experiences.
The luxury segment of housing, defined by apartments priced at Rs 4 crore and above, witnessed a 75% year-on-year growth in sales in 2023, reflecting buyers' ongoing preference for high-value assets offering larger spaces and superior amenities. Sales reached 12,935 units in 2023, up from 7,395 units in 2022.
“Global architects bring international perspective, innovative design concepts, and cutting-edge technologies. Our collaboration with UHA London, Benoy, CD+M, SWA, and WET Designs, globally renowned architectural firms, helps us break away from conventional practices to infuse projects with fresh perspectives,” said Ravish Kapoor, Managing Director, Elan Group.
A lot of developers are hiring architects specifically for landscaping, reflecting a heightened emphasis on green spaces, as buyers now prioritise environmental sustainability and wellness amenities.
“This trend is driven by the desire to offer a fresh and diverse perspective, attracting a wider array of potential buyers while crafting standout residential properties that differentiate themselves in the market. Ultimately, this strategic approach reflects the industry's recognition of the importance of creating distinctive, high-value properties that cater to the evolving demands of the market,” said Harleen Oberoi, SVP- Head Project Management, Tata Realty and Infrastructure Limited.
For the Gurugram project, TATA Housing partnered with New York-based architect KPF. and the Kolkata project is a collaboration between Singapore-based HB Design PTE and Mumbai-based Kapadia Associates Design LLP.
“International design firms bring a wealth of experience and a global outlook, enriching projects with unique insights and trends from around the world,” said Vivek Singhal, CEO, Smartworld Developers.
India’s housing market continued its post-pandemic growth trajectory, achieving record-breaking sales in the March quarter, but it's evident that buyers now prioritise sustainability, better designed and better overall living experiences.
“In our projects, we believe in harnessing the best of both worlds—blending the expertise of global architects with the rich cultural heritage and innovative spirit of Indian firms. By fostering collaboration with global architects, we aim to create spaces that resonate with both global trends, ensuring an unparalleled living experience for our residents,” said Varun Sharma, MD, MVN Aero One, a Bengaluru-based real estate company.
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Source: The Economic Times