North Indian real estate is the hub for commercial, corporate and real estate industry movements, says Mr RK Arora, Chairman, Supertech
Supertech Limited, India's leading real estate developer was founded 25 years back in Delhi NCR and since then has been scaling new heights by each passing day. The company has set new trends of architectural finesse in the contemporary global scenario touching the horizons of excellence. Established under the dynamic leadership of Mr. R. K. Arora, Supertech has led to creation of various landmark projects. The leaders and skilled professionals of the company have worked towards launching out of the league projects and take the real estate sector to the next level. Supertech is the pioneer to launch the concept of mixed-use development in India and to come up with high rise constructions in North India. Makaan IQ team interacted with Mr RK Arora, Chairman, Supertech and lets find out, what he has to say
1. What is your medium term (9-12 months) outlook for the real estate market in India in general and North India in particular?
With the formation of new government at centre, the sentiment in the real estate market has improved significantly. The new Government’s vision of “Housing for All by 2022” is welcomed by both home-buyers and developers community with great enthusiasm. Real estate friendly announcements like REITS and FDI which are perceived as major initiatives to channelize cash flow into the Indian economy are being seen as indication of the Government’s commitment to support the real estate development in a big way. The sector continues its metamorphosis from being largely fragmented and unorganized to become a structured and organized sector, as its peers in developed economies across the globe.
2. How is real estate in North India different from rest of the regions in the country?
North Indian real estate is the hub for commercial, corporate and real estate industry movements. The region has more opportunities to fulfill the residential requirements of the masses and project offers like, low to mid budget flats, high class duplexes, villas etc. Several big real estate developers have started new housing projects in Delhi, Uttar Pradesh, Haryana and the Punjab belt. North India’s smaller cities offers better growth prospects and price stability for real estate developers and buyers than large market in other parts of the country. The Northern region has grown up with real estate developments in macro-markets like Delhi, Noida, Gurgaon, Faridabad and Ghaziabad which has evolved over the years. With good infrastructural development and significant housing demand, real estate market has encouraged investors to invest to this region.
3. What is your opinion on Luxury or Public Housing? As a developer, which is more sustainable?
Undoubtedly, luxury housing segment is witnessing unabated demand but as property prices are rising, there is significant demand for public housing as well. As a developer, we cater to the demands of both the segments from developing high end residences to affordable housing solutions. From designer and theme based homes to smart living spaces, Supertech has various projects on offer. We have also come up with an affordable housing project named “Basera” in Gurgaon region, so as the common man can easily realize its dream home at effective pricing.
4. Having so many projects completed in Delhi NCR, which of the other cities do you think home buyers should opt for a property purely from Investment purpose?
Buying a property at any time in our life is an asset for us. It is an immovable property which can only appreciate in its value so buying a right property with due diligence is an important aspect for any individual. However, there is lot of scope and good options available for investors in Southern India especially the Bangalore market. Supertech also has one of its projects named Micasa located at Thanisandra Road in North Bengaluru.
5. The number of unsold inventory is increasing in NCR, what could be the reason behind this?
People are currently apprehensive and expect for more cut in interest rates which will allow low EMIs payable for customers. However, with the form of new government and vision of “Housing for All” by 2022, the market sentiment has definitely grown high, there has been picked up of sales and queries are flowing a pace. However, with rapidly transforming structure authorities and developers have come up in a big way to build affordable housing, so as the common man can also realize its dream home with a low cost effective pricing
7. What is the current trend in the Commercial Real Estate Market? How are developers meeting the increasing demand of the corporate sector? Which are the upcoming corporate bases?
Commercial real estate market is expected to be the next big thing in the current year 2015, with ‘tax pass through’ status for REITs. Some of the key events like RBI offering incentives for infrastructure financing and creation of REITs, banks lowering interest rates, Make-in-India campaign and relaxation of FDI norms has rolled through a sharp funding pressure, that will give a much-needed boost to the sector. Developers of leading cities have been accounting for more space for meeting the increasing demand of the corporate; it is only possible with mixed use development and new construction of buildings to be addressed with new ground built spaces, creation of indoor/outdoor space, etc to make it more exciting work space for corporate world.