Abstract: The last two decades have witnessed hectic real estate activity especially the proliferation of residential townships. Not only the metropolitans but even the mid-sized cities have adopted the apartment or commonly called the flat system of housing. The twenty-first-century house buyer wants to be in the vicinity of Malls, entertainment places, shopping areas, and gyms. Almost every middle-class household owns a car and many of them have more than one, yet want near to the workplace, education institutions, and hospitals as also a striking distance from Airport, etc. Real estate works in micro markets and the cost of apartments normally is talked about in cost/sqft. The house buyer has a set of requirements to be met in a given budget but he gets to hear and talked about huge claims, jargons, and fuzzy cost calculations. Thus, one is neither clear about the overall amenities, nor the square feet and not even the total cost quoted by different builders at the decision-making time. This paper presents enlistment of quality-of-life parameters as identified from the literature survey and the survey. Further, a Value Approach is presented that could be used for rating real estate products based on the parameters that directly impinge on the QOL (Quality of Life) of the homebuyer and the value he or she places on them