Share with us your opinion on the real estate market trends for the progressive year, estimating the relative growth and demand potentials.
The real estate sector has picked up its pace after the second quarter of 2019. RERA, GST, reforms in the NBFC sector, and other milestone decisions taken by the government has allowed registered players to have a strong foothold in the market. As a realtor in the luxury space for over two decades, we have seen the industry experiencing a roller coaster ride. Currently we see a gradual progression in the luxury segment where it has gained a positive momentum.
Tell us about your recent on-going projects and views on the current promising trends of the Industry.
We have identified the key locations home buyers would like to invest in and have made an optimal utilization of the opportunity. Some of the Group’s premier residential ongoing projects in north Bangalore are Adarsh Palm Acers, Adarsh Tranqville, Adarsh Wisteria and Adarsh Pinecourt. Adarsh Premia and Adarsh Astria in south Bangalore while Adarsh Sanctuary, Adarsh Palm Retreat Mayberry, Adarsh Palm Retreat Lakefront are some of the on-going residential projects in east Bangalore.
All our projects are created post deeply analyzing the consumer demand and latest trends in the industry. We believe this trend will continue to pick up the market and will give a push to innovation in sustainable living.
What are your views on the government policies and reforms to develop the field of real estate, as a major part of the infrastructure development movements?
In the last two years, the real estate has seen a positive development in policies and infrastructure.
We view RERA, GST and other government policies as an effective step towards uniformity in the realty sector. These reforms have boosted the confidence of the both, home buyers and builders in the sector and created a transparency organizing the unorganized sector. Apart from infrastructural developments in road, rail, air & shipping industries, the government’s aim to achieve Housing for all by 2022, under the PMAY scheme, is quite encouraging for the sector. The decision to bring GST to 1% and enhanced interest deduction on home loans for affordable home seekers was also a welcome move.
How do you view the impact of RERA norms in the construction world?
As mentioned earlier RERA is implemented keeping the consumer interest in mind. It has promoted transparency on the builder’s front. Home buyers have access to the status of the project and the industry is getting organized with strong developers taking over the weak builders. This ensures on time delivery with regularized supply of quality projects. Therefore, RERA is expanding the realty market as against the general assumption many have on consolidation of the market.
Is there something you would like to share with your audience at large, such as your visionary views?
It is important for aspirational businessmen, customers and all the other stakeholders to understand that change is the new norm in the dynamic world. Only credible companies who adapt themselves to these changes will survive which in turn result in quality supplies and competitive process.
At Adarsh we believe in delivering projects that are built around the expectations of home buyers. From architecture to habitat of the property, Adarsh projects use the best the industry has to offer. Sustainability is the key to a better living and at Adarsh, we make a conscious effort to ensure that we incorporate elements that are energy efficient and sustainable. It is imperative for us to build projects that are long term, where the home buyers can be assured of their investment.
