KOLKATA | NEW DELHI: What Shakti Nath, chairman of Logix Group, shows us with a swing of his arm is a stretch of barren land along the Noida expressway, holding out the promise of a home. We are building a sports city here. You can learn horse riding, or engage in fishing or even butterfly breeding, he says, pitching his project above competition. Nath, a real estate developer, knows these are difficult times -- construction costs are rising, home loans are becoming expensive and the demandsupply gap is widening due to a supply glut.
His bait for the buyer is therefore not just the home but the fishing academy and the butterfly breeding course that come with it. In a market, which is lacking the spur, leisure homes are just another way to lure the buyer. Some developers are offering interesting concepts and themes.
You can send your kid to an inhouse cricket academy, control your home appliances from a distance with an Ipad-like gadget or jog on your terrace while its raining. Or you can hitch a ride on a speedboat in the adjacent marina and spend a lazy Sunday in the shade of a fruit orchard. Having a theme helps in creating differentiation in a market that has been deluged with launches of residential projects, say experts.