Millennial, also known as Generation Y or Net Generation, are people born between the years 1980-2000 reaching adulthood in the late 21st century. Our world is home to 400 billion years. Millennials make up one third of India`s population and 46% of its workforce. India`s average home buyer is likely to be 29 years old by 2022.
This generation saw a very short life span of a device called a pager, after which they saw a large phone tied to a wire gradually become wireless and grow bigger and smarter. They have had the opportunity to manipulate themselves with enough technology to make mistakes and learn how to use them to their advantage. The millennial generation is tech-savvy, pragmatic and modern, but holds relationships with traditional values ??close to its heart.
They have a lot of knowledge and make decisions after a lot of research. With information about everything under the sun that is in their hands, this generation is becoming a powerful driver for growth in various sectors of the market. Real estate has also seen this effect, with huge increases in new home buyers.
What do they want?
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A place to live
Having an Indian home is a very emotional experience. While the millennial generation looks at the security and satisfaction that comes with buying a home, they also recognize that it is a powerful investment to generate future financial benefits. Therefore, the retail price of the house, the percentage of appreciation are important factors they consider before choosing a house.
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Love of online research
Call it luck or patience; they have access to free, high quality information about everything they need for the comfort of their home. Therefore, unlike their previous generation, they do not register a large number of properties and then visit the site. 70% of their decision-making process is done online by comparing prices, viewing 3D images of buildings and listing only their last few site visit options and other rules.
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Friendly Nature
A great beautiful house in the suburbs though sound can not deceive the buyer for a thousand years. They prefer integrated homes that are not well-remodelled and have a good resale value. The proximity of basic services, convenient location, urban connectivity, project security, access to adequate parking for beautiful integrated townships such as Labdhi Lifestyle offered is a good option for this experienced generation.
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Focused on quality
If the product offers a higher price, then they do not care to pay extra. This trend can be seen in the increasing demand for high-tech electronics from established companies, which drive low-cost electronic goods, which the previous generation seemed to prefer. So when making a decision to buy a home, they usually look for honest builders who have a good track record who understand their needs and who can meet their needs.
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Management experience
The millennial generation prefers to spend their money on satisfying experiences rather than having high-quality products. They just do not want a house in a high-rise. They are buying living experiences that fit their lifestyle. Amenities such as clubhouse, swimming pool, gym, spa etc. are the factors they look for when they want to buy a house.
The strong team at Labdhi Lifestyle Builders understands the needs of this generation and is always quick to adapt to changing market conditions. If you are looking for 1 & 2 BHK Flats where it is easy to meet the luxury then Labdhi Lifestyle is the perfect place, our fully integrated township in Mumbai offers state-of-the-art facilities and is the world itself.
