Micro moves retain mega value

Maintaining facilities and ensuring preparedness in safety measures can enhance resale values

- Ar. Amish Mistry

In my previous article titled "Making Mumbai Future-Ready," we explored how the city thrives as a network of living ecosystems-Economic Activity, Culture, Innovation, and Human Potential. Now, let's zoom in on the foundational layer that keeps these ecosystems strong, while simultaneously enhancing their value: our apartments and the project in which they are situated.

The resilience of a city begins at the residential project level. With nearly 8085% of property registrations in Mumbai being residential, apartment projects form the largest slice of the city's built environment. From emergency drills and rainwater harvesting to shared health resources and sustainable practices, what you do at the apartment level ripples outwards. Not only does it help in strengthening neighbourhoods, and creating collective security, but also goes a long way in enhancing property values. As one Mumbai realtor put it, "Preparedness ensures peace of mindand peace of mind always fetches a premium."

As Warren Buffett wisely put it, "Price is what you pay. Value is what you get." Preparedness ensures that an apartment delivers lasting value-something buyers instinctively recognize and are willing to pay a premium for.

Most of the apartment projects in Mumbai are constructed by reputed corporates and builders, who ensure that the premises are retrofitted with crucial amenities like dedicated security systems, rainwater harvesting, proper segregated waste disposal and even renewable energy generation through solar and micro wind turbines for a substantial amount of onsite energy requirements.