How to Give a Design Brief – Maximize Returns From Real Estate Development Projects

A real estate design brief is usually focused on “what can I build?”. However that is a very inward looking way of looking at development. Instead the developer should focus on “what can I sell?”In a nutshell, a DESIGN BRIEF should answer a basic question: What are you going to build and why?For a Design Brief to answer what I can sell the use of market research is critical. And it is not just a matter of of ordering a report from a reputed research firm. The report it needs to be properly analyzed. We need to consider the potential audience for the development and how to reach them. We also need to understand the market depth and likely acceptance of concept amongst the target customer. We need to analyze both the hard data (market research, market environment, trends, income groups) and soft data (customer research, what kind of concepts are desired). We need to identify price points, user preferences, demographics, competitive analysis, required features, value drivers etc.Every design brief should be preceded by a financial analysis. We need to evaluate options are there and which is most profitable.The benefits of doing a detailed market and customer research along with a financial analysis are many. First and foremost, we get a differentiated product , a product that we are able to sell in a crowded market. Besides by delivering what the market wants, we connect with the customers and succeed in building a brand. We are able to garner a price premium and accelerate the sales process.In a nut shell, we earn more profit and lessen the risk.

Why Invest in Pune’s Real Estate?

The complexion of real estate in Pune has undergone massive change, particularly in the past decade. The property in the city has continued to garner appreciation at steady rates in the range of 15% to 20%, which makes it a lucrative investment option for those who seek to create backup for the future.Pune’s growing frontiers and its relative proximity to the commercial hub of the country – Mumbai. Naturally, Pune is now the ideal gateway location for professionals who don’t mind going that extra mile or few, quite literally, to enjoy the twin benefits of a better life index and heightened space quotient.The average property vacancy ratio in the city, which stands at 20% to 22%, as opposed to Mumbai’s 35%, hints towards Pune’s migration towards a better mobilized market identity. One of the most important factors to have triggered this is the change of mindset exhibited by the real estate developers in Pune. The realty developers are fast discarding traditional templates of construction in a conscious effort to embrace new styles of architecture and enterprising layouts.Another major change in trend has been observed as proliferation of luxury projects on the city’s horizon. The hi-end ventures have been outnumbering the mid-profile projects, resulting in a growing inclination towards an investment-centric approach. The hi-range projects are being acquired by NRIs and IT professionals, who possess the spending prowess to opt for residential complexes placed in the higher-bracket.Majority of the development has been seen across the peripheral areas of the city. Fringe suburbs of Pune such as Balewadi, which were previously considered to be farfetched residential avenues, are now considered as part of Pune’s growing mainland. Also, the rise of retail / commercial hubs mushrooming across these areas are proving to be the ideal nourishing factor driving a balanced, community-centric brand of living in the hitherto under-explored city areas.New townships in Pune are now seen to integrate apartments of varying sizes, to suit different family needs. Such integrated mega communities to have come up in the city typically have 1 BHK, 2 BHK and 3 BHK flats, catering to the accommodation requirements of one and all. The townships also boast of a host of amenities that offer the residents a wholesome lifestyle. Some of the notable mentions to have recently been added to the list have come up along the Western and Eastern peripheries of the city. Suburbs such as Hadapsar, Pirangut, Kharadi, Viman Nagar, etc., are showing major growth spurts, shaping themselves as the neighborhoods where Pune’s future lies!