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There’s been a paradigm shift in homebuyers’ purchasing preferences: Prashin Jhobalia

House of Hiranandani is a pioneer in developing integrated communities that have become landmarks in India. It has transformed the real estate skyline of Mumbai, Bengaluru, Chennai, and Hyderabad with its signature-styled neighbourhoods that offer a holistic living experience to residents. Pillared by over four decades of experience and a unique approach to designing and planning, HOH invests heavily in research and development to ensure that its developments surpass industry benchmarks and redefine engineering and design. The brand has developed a distinct brand identity over these years. And customers are the driving reason behind our image. They have a very close relationship with their customers, and customer centricity has been the brand's guiding concept.

This festive season, Adgully caught up with Prashin Jhobalia, VP - Marketing Strategy, House of Hiranandani, to know more about the brand’s plans to tap into the festive buying spree and what kind of strategy they are looking at to promote their various properties across the country.

The property market is buzzing. How is the House of Hiranandani’s geared for this festive season when people book new properties?

The festive season has always been an exciting time for the sector. The current market conditions also make it the best time to invest in a home. The job markets have opened up and normalcy has been restored to its fullest potential. Even while the interest rates have been on a rising trend, we have witnessed an increase in demand for luxury homes. This is the first festive season after the pandemic where we won't have any restrictions in place. This adds to the overall festive atmosphere.

We expect buyers will take this opportunity and will go ahead with their home purchase in this festive season.

In order to stay in sync with the market demand, our festive marketing campaigns, like every year, will be robust and engaging.

We plan to continue with the fourth edition of the House of Happiness campaign that will begin in October and will continue throughout the festive season. The campaign enables the purchasers to acquire a House of Hiranandani property at appealing costs that would not otherwise be possible.

It also includes exciting offers, engagement programmes, and celebrations that allow our current customers to interact and celebrate with one another. Prospects get a chance to learn about the lifestyle at the House of Hiranandani property.

Our OMR property in Chennai and Hiranandani Estate in Thane will be hosting lighting festivals as part of the celebrations. Customers will be able to enjoy the festive atmosphere as the entire townships will be decorated with colorful lights.

As a brand how are you differentiating your properties and what has been the positioning to the brand in the market?

The real estate sector has grown multifold in the last few years. Easy availability of technology and expertise has resulted in some astonishing residences in the country. House of Hiranandani, with a legacy of over four decades, has always believed in creating a quality product with the best construction practices, technology and innovation while keeping the ecology balanced.

The brand has developed a distinct brand identity over these years. And customers are the driving reason behind our image. We have a close relationship with our customers, and customer focus has been the brand's guiding concept.

When it comes to distinguishing the House of Hiranandani brand, there are a number of aspects that set us apart. Below are the some key points:

  • The neoclassical architecture which distinguishes us from our competition
  • Prioritising sustainability and resource conservation in our communities
  • All of the projects are built in accordance with construction principles that foster sustainable ecosystems.

While we are known for the premium lifestyle provided in our integrated communities, we have also provided a similar lifestyle in a luxury residential single tower at our project Castalia in Kandivali, Mumbai. This showcases our versatility and expertise in varied forms of premium developments.

How important is RERA in the property business? How does it help a buyer while booking a property?

RERA can be credited for bringing about some significant improvements in the sector. Previously, the real estate market lacked a unified set of rules. However, the RERA Act imposed fundamental rules and guidelines, which boosted transparency and organised the sector. RERA has, in fact, created a fair playing field for the whole industry. Customers can also have complete information on the project in which they wish to invest. They are also protected from any rights that may be jeopardised as a result of wrongful action by property stakeholders. This benefits not only the buyers, but also the actual developers by providing them with the leverage of being regarded as the trusted brand and keeping their pledges to the purchasers.

What does a buyer look for when buying a property? How important is the trust factor for them?

The post-pandemic environment has radically impacted consumer perceptions across businesses, including real estate. There has been a paradigm shift in homebuyers’ purchasing preferences. The proximity of a home to the office, school, healthcare, and retail centres influences home purchase decisions. Access to open green spaces, apartment size, and the quality of the unit and facilities have also risen in relevance in the decision-making matrix.

Aside from a high-quality service, the buyer wants attention and a timely answer to any questions or concerns he may have after the transaction. It is not a one-time transaction, but rather a relationship based on expectations and trust. It may take years for a developer to gain the trust of its clients. Homebuyers are also more likely to pay a premium for properties by developers with a proven track record.

How do you engage with your audiences? How important is digital as a medium for real estate brands?

Digital is the need of the hour. To capitalise on potential clients’ constant Internet presence, communication channels have become more technologically inclined. Social media platforms are also chosen for interacting with our target audiences.

The digital medium caters to all types of audiences, but each group demands its own set of communication tools. Because no single communication can be of interest to the entire audience, content customization is a regular activity at HOH. We also employ Search Engine Optimization (SEO) and Search Engine Marketing (SEM) to drive visitors to its website. Events are also an integral part of our customer engagement strategy. These occasions provide an opportunity for our customers to interact with fellow residents. It also provides a glimpse of the lifestyle to prospective customers.

However, one cannot dismiss traditional ways of communication because they are an important instrument for reaching the general public, particularly those who are not technologically oriented. Print adverts, radio appearances, hoardings, mailers, SMS, events, collaborations, and associations are thus examples of various communication outlets.

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