Tata housing announced last Thursday its venture into the wellness home industry in a partnership with the US Green Building Council (USGBC) and Green Business Certification Inc. (GBCI). Wellness homes are homes that provide clean air, pure water, adequate light, and comfort.
The new concept will be unveiled in Tata Housing’s Serein project. The project, located in Thane, Maharashtra, will have housing units starting at Rs 1.65 crores (about USD $245,000).
The properties were developed based on focused market research which determined consumer needs. The company expects wellness homes to attract customers interested in premium or luxury homes and projects the wellness home industry to grow by 20-30% each year.
Brotin Banerjee, MD & CEO of Tata Housing Development explained that India’s growing young population seeks a better lifestyle, and that this in turn has changed the landscape of the Indian real-estate sector. Reports reiterate the fact that the young demographic feels an increasing need to look and feel good, and consciously seeks wellness solutions. Coupled with rising income levels, developers have found a new market for wellness services that meet the hygiene, curative, and enhancive needs of young customers.
The firm aims to expand the presence of wellness homes across India. Their goal is to “delight customers by providing quality life spaces through continuous innovations”.
According to a survey conducted by the company in 2014, consumers, especially millennials, prefer homes with wellness features. Consumers believe that these features create a healthy atmosphere in which they can thrive.
Tata Housing has currently has plans to develop wellness homes in Thane and Bangalore in India and Colombo in Sri Lanka.
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