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Smondo
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Definition Smondo is a real-estate term used to describe "smart condominiums". It is used to differentiate from affordable, low-on-features, poorly designed homes. Smondos are designed to utilize space efficiently and usually have smart features which not only make it reasonably priced at the time of purchase, but also helps save money during occupation. Typical smart features of Smondos include built-in-seating at windows, integrated wardrobes, absence of corridors, full-size windows and pre-built slots for air-conditioners. Smart features usually depend on the builder's experience and foresight. Smondos are aimed at first-time home buyers and working professionals who prefer a practical, efficient and comfortable home. Origin The concept of a Smondo began originally in Bangalore, India during the 2008/2009 recession. The real-estate market was facing a Catch-22 situation, where a prospective home owner could neither afford the premium, high-priced homes in the market, nor want to live in an affordable home which was low-quality and in remote locations. There was a massive demand for smartly designed, smart priced homes. This and the realization of builders that buyers make informed decisions, led to the concept of the Smondo. Current Status Currently, efforts are on to make Smondo a proper real-estate term to avoid misuse. See Also
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