Designing a difference: What is the role of design and architecture in influencing property value? -Mr. Anmoll D Shroff, Founder & CEO, Graanth Realty
In contemporary built environments, design no longer remains an aesthetic consideration; quite to the contrary, design is a fundamental component underpinning the real estate industry, given its ability to influence the manner in which existing and potential clients perceive and interact with a space. In doing so, it makes a significant impact on the overall value of the property. Up until recently, the impact of design on real estate valuation was understood but never quantified, which often affected the design process and the resultant economic outcomes. This is changing with studies such as the Real Estate Innovation Lab’s The Value of Design in Real Estate Asset Pricing report, which measures for specific design elements and plots their impacts – the report found that features such as diagonality and podiums have a positive pricing differential of 12.4 and 9.7 per cent more than rectilinear buildings respectively, while structures with setbacks have a neg...