Me­ta­mor­pho­sis of Real-es­tate

lalit makhi­jani, chief mar­ket­ing of­fi­cer at go­drej Prop­er­ties re­counts his jour­ney from FMCG and bank­ing to real-es­tate and briefs on the cur­rent de­vel­op­ments in the re­alty sec­tor.

Realty Plus - - Contents -

Lalit Makhi­jani with the pro­fes­sional back­ground of work­ing in an Amer­i­can per­sonal care cor­po­ra­tion and multi­na­tional bank made a dras­tic move of shift­ing to real-es­tate sec­tor by join­ing Kal­pataru in 2010 which he laugh­ingly ac­cepts was a cul­ture shock. “It was a bold ca­reer move but I felt join­ing Kal­pataru was the right de­ci­sion. From be­ing a small fish in the big pond, I was now the main de­ci­sion maker. I was pushed out of my com­fort zone but I also learned a lot about the sec­tor.”

the chang­ing trends

There is a sea change in the pro­cesses and govern­ment poli­cies and the sen­ti­ments are pos­i­tive for the sec­tor. The prop­erty prices have sta­bi­lized and will not go down fur­ther. This is the good time for buy­ers to in­vest or buy their first homes as home loan in­ter­est rates are lower, prop­erty prices haven’t gone up, de­vel­op­ers are of­fer­ing good schemes and even govern­ment is in­cen­tiviz­ing to buy houses.”

shift in con­sumer’s Pref­er­ences

Till now home buy­ers were fo­cused on the size of the house, now they are more con­cerned about the ameni­ties and fa­cil­i­ties avail­able within the com­plex for them and their fam­i­lies. They are even ready to spend more for that. Makhi­jani ex­plained, “The new gen­er­a­tion of home buy­ers are the young pro­fes­sion­als & en­trepreneurs, new­ly­wed cou­ples & young par­ents or those up­grad­ing to a new & bet­ter home. These buy­ers also pre­fer com­mu­nity liv­ing be­cause of which there is a clear in­cli­na­tion to­wards in­te­grated town­ships rather than stand­alone res­i­den­tial build­ings. Mum­bai, Pune and Ben­galuru have seen num­ber of town­ship projects be­ing launched by de­vel­op­ers. Even tier-ii cities like, Ahmed­abad, Kochi, Jaipur and Am­rit­sar and tra­di­tional real-es­tate mar­kets like Chen­nai and Kolkata are open­ing up to the con­cept of in­te­grated town­ships.”

in post Rera regime, it is not only the large de­vel­op­ers that will sur­vive but also the small de­vel­op­ers who are do­ing good and hon­est work. the in­tent of the


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