Dear Friends and Associates,
In this month's newsletter we ponder over the changing interpersonal dynamics that are critical to building communities out of housing societies. Do the younger generation like being a part of thriving neighbourhoods or do would they rather form a world of their own, within their dream home.
Business Unit Head - Gera Developments Pvt. Ltd.
Changing Interpersonal Dynamics in the Modern Housing SocietyBy Rohit Gera
The booming Indian economy has offered tremendous opportunities to the youth of the country- one huge outcome of this is the change in the age of home buyers today. At a recent exhibition, 63% of the home buyers were below the age of 35.
We have seen a 5 year period of unprecedented salary growth (the last 2 years notwithstanding). With salary growth, we are willing to and forced to work harder. One of the key observations of the Indian diaspora spread across the world is their drive to work hard to do better- to earn a better life. These same opportunities are now available in India.
Over the years, our lives have been increasingly taken over by the demands of our work place. Email, followed by the Blackberry has shifted us into a culture of instant response. We give instant responses and expect instant responses. The work place has become more and more demanding. As businesses prosper and do well, the pressure on the individuals those make up the businesses increases exponentially.
I do not state this as a complaint- but an observation
The culture of 24x7, chasing the next aspirational material item has led to nuclear families being formed and they becoming increasingly isolated from their neighbours. People working 24x7, travelling days on end and communicating through our fingers is the norm today. Our children are in touch with their friends through social networking sites but barely know their neighbours.
As a developer, we see our role as that of creating communities rather than housing complexes. This requires people to know their neighbours, participate with them, celebrate with them, watch their apartment when they go on vacation etc.
The question however is do people want this? Should we be actively helping form communities or should we build the housing complex and allow the evolution of each development take its own course.
JMD - Gera Developments Pvt. Ltd.
As with other investments, real estate too carries a certain amount of risk. Readers are advised to undertake their own due diligence and take judgement calls based on their own research and not on the article.