Mr Aditya Kushwaha - CEO -; Director, Axis ECorp

16 Dec 2022 , 11:02 AM

 Q. Do you think with the imminent economic recession, demand for second-holiday homes will go down?

The COVID-19 pandemic has disrupted how we live, and businesses have reached a standstill. The market was sluggish thanks to the wait-and-watch approach. Even in this crisis, when people were cautious with spending, the sales for second and holiday homes kept booming. For centuries, real estate has been a safe haven investment. During the recession, second homes are considered a great investment avenue and the opportunity to earn vacation rentals make it an even more enticing proposition.
Also, as several people became acclimatised to working remotely, there has been a significant increase in sales of second homes, especially for Goa, because of its numerous advantages.
 
Q. You are right now focusing on developments in Goa? Are your projects aligned with the heritage architectural milieu of Goa?
 
Yes, all our projects are in alignment with the architecture and milieu of Goa. Goa is known for its beautiful beaches, lush greenery, and relaxed and laid-back lifestyle. Customers’ demand was initially driven by people wanting to relax and rejuvenate in a vacation home and reduce the risk of being infected by the virus. However, over time, it became a lifestyle choice for many upper-middle-class families. We are aware of this and have kept these aesthetics in mind while using minimalistic design.
 
Q. What are the initiatives that you are taking for environmental sustainability in your developments in Goa?
 
Sustainability in the Indian real estate market is on the rise, and homeowners are increasingly looking for houses that are developed, keeping the environment in mind. We are working towards concrete initiatives such as sustainable design, conserving natural resources, switching to greener construction technology, optimising the use of water, using solar energy, waste composting, water harvesting, and many more. These are a few steps we are taking as part of our initiative towards a greener future.
 
Q. What are the types of homes that you are focusing on?
 
Axis Corp is now focusing on holiday homes, but we are also looking at various concepts. For example, we experimented with a luxury suite concept with our Axis Blues. Introduced during the pandemic, this was sold out in no time. Buoyed by its success, we launched Axis Yog villas, which are luxury villas for the upwardly mobile. We have recently launched Axis Lake City, which is on build-to-suit concept. In these, consumers have the complete freedom to make their house as per their budget and requirement. In short, simplified land ownership with fully approved commercial plots with housekeeping and security. They get the same quality and trust that Axis Ecorp is known for and the option to customise the construction completely.
 
Q. What is the average profile of customers that are purchasing your constructions in places like Goa?
 
HNIs or high net-worth individuals are investing in numerous luxury residential properties as holiday homes to expand their asset exposure. It is not just a real estate investment or a postal address but a lifestyle decision for these individuals as they just want to live in a home that has a perfect mixture of luxury & best quality of life in a locality that offers a significant scope of development and is also perfect for planning holiday homes. It is mostly millennials that are keen to invest in upcoming destinations such as Goa. Of late, NRIs are also keen on holiday homes, and Goa is a top destination on their mind. The increasing worth of Dollars & AED against Rupee and offers being provided by developers are some of the luring factors for these NRIs. They want spacious and luxurious homes in India because of the standard of living they are used to in the countries they are staying in.