REALTY SECTOR IN THE SERVICE OF THE NATION

HARYANA RECORDER
SEPTEMBER, 2010


REALTY SECTOR IN THE SERVICE OF THE NATION

With the upsurge in India economy realizing almost 8-9 percent growth during the last five years, it has positively impacted on the Realty Sector. The developers, Realtors and investors who were facing a difficult period during 2008-09 and 2009-10, are now once again gaining a fast track growth. They are experiencing not only surge in demands foe their products, investors from foreign countries have diverted their attention toward Indian Realty Sector.

Actually, the Realtors and developers during the difficult phase of slow-down on global level, diversified to initiate houses/flats for middle class segments with affordable price tag. Now, as the recovery process is displaying a positive sign on global level, the demand volume of houses has consequently going on upward side. Thus the abandoned projects for upper strata of society, luxurious apartments are once again being addressed to by developers.

As the price tag of building materials including bricks, cement, river-sand etc has gone up the roofs, builders are forced to enhance from 5 to 10 percent prices of their on-going projects. This has also been necessitated to keep the quality of their products in tact. The sustain-ability of the qualitative houses/flats has been the force behind resorting a nominal appreciation in the prices of their products.

“As we are still in a recessionary phase of economy, price rise is an un-avoidable phase. Whereas the price rises of white goods, vegetable sectors, steels, elements etc. are well in the double digit regime, price of houses/flats are being limited below 5 percent” said P. Jain.

P. Jain, a young CMD of Tulip Infratech Pvt. Ltd., has launched a slew of projects in Gurgaon (Sector 69/70). As the demand volume is on a rise, the project in hand would certainly cater to the demands of a large section of the society. Actually, driven by a sense of nationalistic perception, Jain’s thrust has been to perform for the benefit of the society as a whole. “The realty sector has proved an engine of economic growth in any country be it US economy, Japanese economic growth or Korean economic upsurge. The Chinese economic spectacular achievements during the last decade or so has been driven by the Realty Sector”, observed Jain.

So far as Indian economic growth is concerned, the Realty Sector is on the front line contributing its positive role in creating capital formation, a necessary in-gradient of a sound economy, says P. Jain. The ever increasing middle class segment with solo family units, aspire to grab a better habitation place. Following the robust economic growth phase Indian economy is in the midst of it, according to Realty watchers, still there is paucity of 20 million houses/flats in the market. The time developers would build such a huge quality of houses new demands emerges with the up-coming of new aspirants for houses.

Finding the market full of great potentialities, P. Jain has initiated a number of projects in Gurgaon such as Tulip White, Tulip Ace, Tulip Petal, Tulip Purple etc. Tulip Grand at Sonepat will be handed to the allottees by the end of this fiscal, almost within a time-frame promised earlier.

“The development of these projects as an integrated township would facilitate the neo-rich segment of the society to feel the new life-style in an healthy and greenery environment. These up-coming residential areas have become necessary to avoid the urban chaos that emerged with the rise of uncontrolled population. Instead of allowing the migration of rural people in the up-coming centers of industries, trade and business and settle in unauthorized places in the suburban turning them slums, a breeding ground for criminals and anti-social elements, the integrated township being undertaken by builders is an answer to these woes. To save the next generation from falling prey to these unhealthy up-coming habitation centers, the role of builders in bringing these migratory tech-nical and non-technical youths to provide modern habitation township with all facilities within the complex. Thus the developers are performing value able services to the society and the nation in building the nation strong. “The creation of employment opportunities, both for technical and non-technical youths that need urgently to absolve the coming generation speaks volumes the efficacy of the Realty Sector’s eminent role in sustaining the economic growth to higher level,” observed Jain.

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