Forbes India 15th Anniversary Special

Transitioning from buying a home to acquiring a lifestyle

Published: Nov 3, 2017 06:45:12 AM IST
Updated: Nov 6, 2017 10:59:15 AM IST

Transitioning from buying a home to acquiring a lifestyle

Bespoke service of the highest standards make luxury come to life. At a time when luxury living spaces offer designer interiors and celebrity endorsements, what’s missing is the understanding of the luxury of privacy and a truly bespoke lifestyle. What the hugely successful, yet intensely reserved business influencer values most is his personal space marked by an understated, yet extraordinary environment.

Provenance Land under the leadership of Mr. Adarsh Jatia is developing the first Branded, Serviced and Managed residence in collaboration with Four Seasons Hotels and Resorts; Four Seasons Private Residences Mumbai.

Branded residences have historically been extremely successful globally. With 32 Private Residences in operation, Four Seasons has over 50 such projects under development currently.  A dedicated team of professionals out of their Toronto headquarters look over every aspect of the operations, catering to every lifestyle need of the ultra HNI families that make these residences their home.

A genuinely exclusive offering never goes half the distance. There is no room for prioritising of silos in a luxury offering; there is only room for perfection in every silo and surprise in every thought.  From a residential perspective, Provenance Land believes luxury percolates into every aspect of a development now and in the future.  Be it quality of design, materiality, consistent and intuitive services or on-going upkeep and maintenance.

Luxury is being redefined as the Indian real estate market evolves.The last decade has seen India witness a phenomenal growth in the number of billionaires (more than 100 in 2017) which is only going to grow more than a 150% in the near future. This has produced an unimaginable demand for quality luxury and branded residences. These individuals are in sync with the global trends which define luxury across verticals. They share similar aspirations and are willing to invest in luxury homes which offer exclusiveness and satiate their needs for privacy and service.

Transitioning from buying a home to acquiring a lifestyle
“We deliberated on the lifestyle of our future residents, anticipated their needs and designed this project inside out.  After several one to one interactions with these families, the planning and design was fine tuned to perfection, whilst keeping adequate room for much-required customization.” says Adarsh Jatia.

Four Seasons Private Residences Mumbai is being planned and developed with the driving philosophy that true luxury is an art form. Like a true masterpiece, luxury is a composition and an on-going experience that emerges from a long period of conceptualization.  Combining the contemporary with extravagant floor areas and room sizes while allowing for multi-generational city living is one of the essences of luxury living.

With master bedroom suites upwards of 600 sq. ft. and living & dining rooms sprawling across 1100 to 3000 sq. ft. the residences are being modelled to offer maximum space inside and minimum intrusion from outside.

With its surge in popularity, the obvious question becomes: What sets hotel branded residences apart from other high-end properties?  Brand promise. A luxury hotel brand, while not providing any guarantees, since the developer is independent of the brand, will typically carry out its due diligence to ensure that fundamentals such as transparency in land titles, regulatory approvals, project funding, legal sale documentation, etc.; and quality of design in terms of master planning, layouts, and essentials such as fire and life safety are thoroughly considered, triple checked and in place before allowing their logo to be implemented. This goes a long way in providing customers the assurance they need.

Brand value is built on tenets such as world class design, planning and architecture (with a strong focus on lifecycle attributes such as energy efficiency), quality of building materials, private amenities and a razor sharp focus on asset maintenance and service, which ensures that in the long term, there is no drastic gap between the actual value and potential value of the asset. In fact, some studies suggest that the cumulative effect of the above mentioned factors effectively positions luxury branded residences among the most recession-proof of asset categories.

Indian HNIs have lived in and own such luxury properties across the world and are used to world-class amenities and the quality of life that comes with it. They understand and appreciate the value of a well-managed asset. Time is a sparse commodity for these individuals and just knowing that their properties are being managed and serviced by a brand such as Four Seasons offers them peace of mind.  What is equally important for residential developments is a long term focus where on-going service levels and maintenance complement style and prestige.

The divide between global and domestic markets has almost blended as one. It was about
time we serviced this need in India as well.

“I have always felt that any service that saves my time and increases my bandwidth is of the greatest value to me, and I have seen all my clients reflect a similar opinion. Four Seasons as a brand has stood out for generations on the strength of service. Their consistent delivery of the finest level of personalised and intuitive service is legendary and I believe as consumers continue to experience service in its truest sense, this will be the biggest quotient within the luxury segment.” - Adarsh Jatia, MD, Provenance Land.

Transitioning from buying a home to acquiring a lifestyle