Luxury residential real estate is on the rise, fueled by a robust economy and a growing need for luxury living. Buyer preferences are leaning towards premium properties, with a Knight Frank report titled ‘India Real Estate: Residential and Office (January to June), revealing that homes priced at Rs. 1 Crore and above saw a significant increase in sales, accounting for 41% of total sales in the first half of 2024.
The Chapter, a technology driven residential real estate company, is capitalising on that rise, offering luxurious homes in gated communities, where affluent young professionals can work, play, and build a holistic lifestyle. We sat down with Darshini Thanawala, Vice President of Business Growth & Strategy, The Chapter; and Arjun Malhotra, Vice President of Business Growth & Strategy, The Chapter; to discuss the potential of luxury residential real estate in India, the world-class amenities and villas designed by The Chapter, the integration of technology in real estate, and why Goa is a homeowner’s dream destination.
Edited excerpts from the interview:
YourStory: What makes The Chapter the ultimate choice for an exclusive living experience and how does it differentiate itself from other luxury villas in terms of experiences and lifestyle offerings?
Arjun Malhotra (AM): As a new-age luxury real estate brand, The Chapter offers a residential oasis for residents and homeowners in Goa. We have taken care to design and furnish each home to appeal to like-minded people with discerning taste – and we’ve seen the results. Our first project, The Chapter Volume 001, located in the scenic village of Moira, sold out in record time – just four months after launch.
We recently launched our second project, Volume 002, in Aldona village in North Goa. Volume 002 features 27 villas that offer a blend of privacy, luxury and connectivity to the rest of Goa. Residents can easily visit nearby attractions in Assagao, catch a flight at Manohar International Airport, or travel by road via National Highway (NH) 66.
YS: Who is The Chapter’s ideal homeowner. How does its strategic location benefit this homeowner?
Darshini Thanawala (DT): The Chapter’s signature design aesthetics and amenities offer a well-rounded lifestyle experience for residents. Our primary audience is millennials, young startup founders, Chief Experience Officers (CXOs), VP level professionals and business owners who are looking for a non-urban home that they can use as a semi-primary residence, with some rental potential.
Living at one of The Chapter’s homes is a unique experience for these busy professionals. They get to enjoy work in serene surroundings, or take some downtime while accessing popular restaurants, experiences, festivals and activities in Goa.
YS: What made The Chapter choose Goa as the destination for developing luxury homes?
AM: What made Goa attractive to us was the enhanced infrastructure and connectivity across the state. The development of new airports, highways, and bridges makes Goa a dream destination for domestic and international buyers looking for tranquil surroundings, with all the amenities of modern life.
Growing disposable incomes have also empowered a wider demographic of professionals, including young buyers, to invest in high-end properties.
YS: The Chapter uses technology to great effect when it comes to design. What makes this approach so unique?
DT: Given that most of our customers are millennials, we have created a tech-forward ecosystem that offers an inclusive and seamless home designing experience, something that can often be a cumbersome task otherwise. At The Chapter, we’re not just building a house, we’re also building a lifestyle. Technology helps us align a homeowner’s lifestyle with a design aesthetic that suits them best.
Technology also helps us create a more collaborative process, where homeowners can bring their vision of a perfect home to life with their own hands. Our solution allows homeowners to choose from an exclusive range of global design identities, each of which is carefully curated to cater to a distinct style and sensibility.
YS: Tell us a bit more about these global design identities and how they elevate the living experience?
DT: Homeowners can choose from several unique design identities, which are tailored to a specific lifestyle and aesthetic inclination. For instance, our serene and minimalist Japanordic design would appeal to a homeowner with a functional and calm mindset. On the other hand, jet-setting individuals love the creamy white, earthy brown and deep blue shades of our Santorini designs. Homeowners can also customise each room within a house to suit the preferences of each family member. Each room can be customised for a different member of the family. For instance, you can create eclectic and colourful spaces for the kids or a serene environment for grandparents.
YS: How does the demand for branded luxury villas reflect a shift in lifestyle aspirations among affluent buyers?
AM: The way we work has changed in the last few years because of the pandemic. People who opt for the hybrid or work from home shifts need spacious homes that can accommodate both their professional and leisure activities. Their homes are a working space, but must also offer world-class amenities such as a gym, pickleball, serene walking spaces and more. There is an overall desire for a luxurious and holistic lifestyle that reflects both style and success.
YS: What does the growing demand for branded luxury villas indicate about the future of luxury real estate in India?
AM: The future looks very promising to us. Not only is the luxury residential real estate market estimated at $38.02 billion in 2024, it’s also expected to reach $101.92 billion by 2029. High-end homes will continue to be a coveted asset for discerning buyers. With the growth of the economy and disposable incomes, the demand for luxury homes will continue to grow.
DT: Our projects are designed to reflect these demands. Not only do we offer world-class amenities, we also offer end-to-end property and rental management services that streamline the renting process. Ultimately, we provide a hassle-free and high-end experience, which resonates well with our target audience and investors.
YS: What is The Chapter’s ultimate goal with its luxury villa development projects and how do you envision the brand’s growth and development?
AM: The Chapter is redefining industry standards and setting new benchmarks in the real estate business landscape. Usually, buyers are restricted in the design process. What sets us apart is that we’ve leveraged technology to give our homeowners a new level of creative control in the entire process.
DT: Let’s say, we are excited to launch upcoming two luxury residential projects in Goa with Sircaim being our next location. We intend to invest Rs 300 Crore in land in the next 24 months for future projects.
