To woo buyers, realtors twist address while marketing projects, especially if area has downmarket ring to it
To woo buyers, realtors twist address while marketing projects, especially if area has downmarket ring to it
It started with Lower Parel. Builders named it Upper Worli.
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| THE 'REAL' ESTATE: The address of a new mall and residential property coming up in Bhandup is being popularised as being in 'Lower Powai'. Pic for representation |
As apartments and malls sprung up, bourgeois Lower Parel's status soared and so did per-square-foot rates.
The address of a new mall and residential property coming up in Bhandup is being popularised by Neptune Builder as being in 'Lower Powai'.
"It's a way of letting clients know we are close to Powai," said Nayan Shah, of Neptune Builders.
Prior to this, projects in the area were being marketed as being in the Bhand'UP' area.
Do these name games work? "This one did," pat comes the reply.
It helps people flick aside negative attributes of the area, especially the ones they harbour about Bhandup in general and Sonapur in particular.
Experts believe that a name-change is equivalent to an image makeover of the area. "A change of name plays a vital role in changing perception of the location and the people it draws," said Sushil Dungarwal, founder, Beyond Square Feet.
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| Name game |
| Bhandup: Lower Powai
Vikhroli Industrial area and slums: Off Powai
Govandi: Upper Chembur
Vidyavihar (west): BKC extension
Dharavi-Sion: BKC extension
Thane border: Mulund
Lower Parel: Upper Worli
Mira Road border: Dahisar
Saat Rasta: Opposite Race Course |
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Citing examples, he says this works in other cities like Pune where Mundhwa Road in Pune is called 'Koregaon Park Extension'.
"Technically, R City Mall is in Vikhroli, but the area is Ghatkopar or it's said to be 'off Powai'. Names do make an impact on customers' mindset and consequently in footfalls to a retail destination."
However, not every realtor advocates this exercise.
"I, for one, am against it," says, Sunil Mantri, of Mantri Developers who is also president elect of the Maharashtra Chamber of Housing and Industry.
Terming it as 'misguiding', Mantri says "If you give the area an upgraded name, it doesn't change anything. The postal address stands unchanged. One can change the name of Parel to Malabar Hill or some upmarket area, but it would only misguide and confuse buyers."
Most builders whose plots fall in the Mira Road area in Thane district, choose to call the area as Dahisar, which is part of the Mumbai suburban district.
Abhisheck Lodha, whose website promotes his Lodha Aqua project as being in Dahisar, said, "Our project in this area is neither in Dahisar nor in Mira Road."
