There has been a quiet but definite transformation taking place in the residential real estate of India regarding the meaning of a house. A house is no longer confined only to the city where the urban dweller works and spends his weekdays. Weekend living and the need for houses that offer a confluence of connectivity, comfort, spirituality and leisure have led to the birth of such a trend. Vrindavan is proving to be one of the favored destinations among others for this phenomenon.The concept of ‘48-hour city’ represents a new trend in home buying. While the buyers continue to live in their current city like Delhi-NCR and other big cities during the week, they now have a home away from their current city to spend their weekends, extended weekends, holidays and family vacation time. Ankit Aggarwal, Director, Devika Group shares insightson how Vridavan is evolving into a second home investment place for people living around Delhi/NCR.A place for the soulVrindavan has been a draw in the past due to its significance in terms of spirituality and culture. But now, the kind of visitor is beginning to change. The family visitor is opting for long-term stay over temple-visits. This means that quality accommodation and residences which offer more privacy and comfort have become a necessity. Thus, this will mean that the profile of the property buyer is also widening. There will not only be those who are buying a permanent home but there will also be people who wish to buy a holiday home in a place such as this.The buyer is interested in being closer to places of spiritual significance, but he/she is also interested in other aspects of the community.Connectivity is altering the equationThe demand for weekend homes largely revolves around accessibility. As the destination becomes more easily accessible, it makes it easier and more economical for urban dwellers to invest in and make use of their second home. In the case of buyers from the Delhi-NCR region, the overall growth of the Mathura-Vrindavan area makes the prospects of shorter durations much more attractive. Better connectivity and other infrastructural facilities may make it easier to plan trips to the area.This is crucial because second homes need to be used in order to generate value. A weekend getaway that is easy to access over two days is very different from one that requires elaborate planning in terms of connectivity.What is important for today’s weekend home buyerThe new age second home buyer is also becoming more choosy. The new buyer takes into consideration not just the size of apartments and the cost involved but the entire living experience. Properly designed open spaces, landscaping, community facilities, health facilities, security, and proper maintenance facilities can have a strong effect on the buying decision. The houses which are easy to maintain and stay comfortable even if not used on a regular basis are highly relevant for weekend use. Thus, the developers have the option of developing residential communities around weekend and extended use.A home that is emotionally and financially valuableApart from the practicalities of investment, a Vrindavan property might have some sentimental significance as well, related to spiritual values, family traditions, and the preferred lifestyle of the buyer. However, at the same time, the buyers should consider these purchases as rational decisions. They should consider such aspects as location, documentation, quality of construction, reputation of the developer, maintenance, accessibility and prospects for future infrastructure development. The increased trend towards weekend living shows that the residential market in Vrindavan is becoming increasingly diverse. Nowadays, the city is becoming not just a place of pilgrimage but a place where one may spend some meaningful time.With the increase in demands of the urban lifestyle, the need for a house with a different pace of life will continue to grow. The special features of Vrindavan will allow it to meet these needs well. This might be considered the next phase of its real estate because apart from the inhabitants of the city, there will also be those looking to have a second place to stay – a home for 48 hours and maybe even more.
