Pioneering self-contained townships and commercial business concepts

What new real estate trends are emerging in the development market? Explain your views on the potential growth in the real estate sector and the way your business will get benefit from the market graph.

India has witnessed an acceleration of economic growth in 2017, and we are optimistic about its future potential. The business environment in the country is positive and has gathered good momentum. The impact of all the regulatory policies will continue to unfold, strengthening corporate governance and further infusing transparency into the system, making the Indian economy progressive and robust. In the medium to long term the changed regulatory framework will positively impact the positioning of the real estate industry. RERA for instance, has helped boost buyer confidence and infuse credibility to the sector. We will see a lot more organised offerings going forward, in all segments of real estate which will fasten the process of decision making for consumers with less ambiguity and perceived risk which will ultimately increase the velocity of sale and create a healthy environment for real estate markets. The spirit of RERA is in the best interest of consumers, they can hand-hold the process with developers for faster approvals, more clarity in terms of legislative impact, and it is in the long term only going to help the industry and the sector perform better.

The next 12-18 months will see speculative supply and paper supply diminish and real supply emerge. The real supply in the short term will be far lesser than it used to be, and with the strengthening of demand we will see prices firming up because lesser real value quality residential supply will be available when the consumers want to finally buy. On the commercial front, the momentum has been good, and while 2017 began with some skeptical visibility, since then-on the momentum has picked up, and only continued to point north. The future will see the momentum sustain with strong demand, the IT-ITeS segment continuing to be the mainstay, absorption volume will continue to drive business and rental growth will be inevitable.

The cleanliness survey by the Brihanmumbai Mahanagar Palika, part of the larger Swachh Bharat Abhiyaan has certified K Raheja Corp’s premier residential offering Vivarea in Mumbai – Mahalaxmi as the ‘Best Residential Complex’ of E Ward (Mumbai). Vivarea is also the first residential tower in South Mumbai to have been awarded the Gold Green Home certification and sees practices such as solid waste management, raw materials, rainwater harvesting, power conservation and offers central water heating facility, water filtration plant and wet garbage composting, all of which amalgamate to offer residents the best living haven.

BMC officials conducted a Waste Management Audit on 2nd October 2017 at Vivarea as part of its Swachh Grahi campaign that commenced on 25th December 2016 under the Swachh Bharat Abhiyaan initiative. Launched by the Ministry of Urban Development the effort is to reinforce the message of healthy sanitary conditions among citizens of India, and encouraging citizens to contribute towards a clean and eco-friendly environment. Vivarea has showcased their support towards ecological development by segregating wet and dry garbage and further composting wet garbage through sophisticated methods. The BMC officials were impressed with the automated garbage disposable system, and the usage of compost in the garden at Vivarea.
Following this achievement, K Raheja Corp’s Vivarea is looking forward to compete nationally for the Best Residential Complex under the Swachh Bharat Abhiyaan Survey 2018 representing, BMC-E ward. The officials from New Delhi are expected to visit the property and verify the standards in January 2018.

Speaking on the certification, Mr. Vinod Rohira, K Raheja Corp said, “At K Raheja Corp it is our endeavour to positively impact the societies we operate in, through eco-friendly and sustainable solutions. The certifications reiterate our commitment towards the environment, as we continue to offer a holistic experience focussed on ecological living.

We applaud the BMC for this initiative which will encourage more corporates and housing complexes to adopt methods that help create a cleaner and greener surrounding, which will benefit society in the long run.”
H| East Ward of Brihanmumbai Mahanagar Palika has also recognized and awarded K Raheja Corp’s corporate office building Raheja Towers, at BKC Mumbai, for the remarkable cleaning work under Swachh Bharat Abhiyaan.

K Raheja Corp is committed to sustainable green footprint in both commercial and residential spaces and has a total green footprint of 42.59 million sq.ft. across both residential and commercial offerings. As evangelists for the green cause, the Company makes use of energy efficient resources and understands the necessity of conservation for curbing wasteful consumption and sustainable development.

About K RAHEJA CORP

K Raheja Corp is a success story spanning six decades and stands today as one of India’s leading developers, having pioneered the concepts of self-contained townships and commercial business districts in the country. Premeditating the changes in the industry, the Company continually crafts state-of-the-art spaces to meet the ever-changing demands of the market. With business diversified across realty, hospitality retail and malls, K Raheja Corp has extensive acumen in all sectors of development.

From exquisite residences to adaptive workplaces, skilfully created hotels and convention centres, to extensive retail destinations, the Company has made a significant impact on the evolution of modern-day living. K Raheja Corp delivers aspirational spaces with distinct characteristics and attributes, making each of its offerings inimitable.