REALTY SECTOR: FULLY REJUVENATED & RECOVERED

HARYANA RECODER

DECEMBER, 2010

REALTY SECTOR: FULLY REJUVENATED & RECOVERED

Leaving behind the bad days of downtown, the realty sector has fully rejuvenated and recovered. As the economic growth, particularly in India displaying an exuberant and feel-good phenomenon, with above 9 percent GDP growth, this has strengthened the realty sector to acquire the lost ground during 2008-09. Certainly, the momentum for restoration was speeded up during 2009-10 & 2010-11. The realtors found the positives sentiments rose among the investors and end-users of the dwelling places.

The stimulus package offered by Indian govt. on similar lines, we found govts. Of other countries, did offer an adequate liquidity for the Realty sector to grow and realize once again the lost ground. During this time around, the developers were seen busy to re-plan their strategies in regard to project cost and price corrections, discarding reckless businesses, etc.

As the liquidity in the market was enthused adequately, both banks and financial institutions provided the required finances to both realtors/builders and the end-users. This has once again pushed the buoyancy in demand for dwelling places.

Actually, the residential segment has emerged as the most resilient asset class as developers have rewritten their strategies with product innovations based on consumer demands, price neutralization, avoiding haphazard expansion and liquidation of non-business assets. With yearly escalation to the tune of 10 million middle class personnel both technical & non-technical, to cater to their demands of affordable house/flats, provides better prospectus to the realtors and developers.

Ridding on the fresh demand sentiments of the consumers, the   availability of developing places being provided by developers, has some ominous portents for realizing boon in realty sector, meeting buoyancy in demands of house. In regard to social responsibility, we have already earmarked as much as 111 flats to EWS in our “Tulip Grand” project, Sonepat which is almost reaching to its logical conclusion and are being handed over to the allottees within a month or so. As much as 106 flats have been earmarked for EWS in our on-going project on Pataudi Road, Gurgaon project of residential colony. In another three projects situated in 69/70 sectors on the Sohna Road, 600 flats for EWS, form as an integrated part of our projects,” disclosed Jain.

“Tulip Orange”, “Tulip White” and “Tulip Purple” on about 100 acres of land on Sohna Road, has the projected connectivity with the proposed Metro line beside only seven kmts. from N.H.8. Six lane road from Rajiv Chowk to Sohna nearer to the project site has almost reaching to its completion mode.

As the middle class numbers are escalating with each passing month, for the country’s economic growth is realizing un-precedented and spectacular up-ward mobility, despite the economic slowdown on global spectrum, the realty sector is still finding it hard to supply houses/flats to fulfill the ever increasing demands.”

Still we run short of 200 million houses or dwelling places. Finding the ever escalating middle class people, particularly youths with changed perception of life style-both husband and wife aspiring to achieve better career perspectives want a dwelling place that have fully developed facilities build upon greenery all around. The modern youth endowed with technical and scientific bent of mind has become the engine of prosperity and exclusive growth in India, “observed Mr. Jain.

The youths belongings to EWS are displaying not less talents and achievements provided they are given a chance and opportunity. Thus if the family or the wards of such families are also given due share in housing projects, the Indian social restructuring can be realized.

“Builders and developers need not shirk their social responsibility in building a better and strong India and provide a deep foundation on exclusive social growth that needs to be realized, said Jain.

Parveen Jain, a young developer has already been awarded a number of awards for excellence displayed with entrepreneurs skill, social consciousness, transparency, honesty, etc.

Project Details

Corporate Profile

Finance Option

Clients From