Amar Builders: A Rich Legacy Beckons
Please give a brief over view of Amar Builders to our readers with respect to history of operations, focal areas, achievements, and the future plans.
Amar Builders was established in 1978 in Mumbai, with the sole focus on real estate development. After completing a few projects in Mumbai, in 1985 the group shifted its focus to the upcoming Pune market. Since then, over the years Amar Builders has completed over 80 projects all over Pune, covering approximately 7 million sqft. These projects have expanded the real estate to each and every one of its clients group portfolio in the residential, commercial, IT, hospitality, industrial and healthcare verticals. We intend to deliver another 6 million square feet of dwelling spaces in the next five years. Further, we plan to increase our hospitality operations, over Maharashtra and Goa in the next 5 years. We are planning to make our foray in to realty segment of Nagpur and Nasik cities.
What, according to you, is sustainable construction and how have you incorporated this essential ingredient in your real-estate projects? Please explain with examples of residential and commercial projects?
According to us, sustainable construction aims at minimalistic or no hazard to the environment during the entire lifecycle of a building, thus optimizing its economic viability and the comfort and safety of its occupants. As a company we follow sustainable and green concepts in construction. Measures like UPVC windows, vermin-culture, solar water heaters and rain water harvesting are a few initiatives that we keep undertaking. We are going for green building certifications for all of our forthcoming projects.
According to a report by Cushman & Wakefield, tier-II and tier-III cities are being reckoned as the growth engines of the future. How do you see this market and which segment is most promising in these cities?
Tier 2 and tier 3 cities have a lot of growth potential because metros and tier 1 cities are over crowded and there is limited scope for growth. In such cities construction is either happening on the outskirts or the older buildings are going in for redevelopment. However, tier 2-3 cities still have a huge land bank which can be used for new real estate construction purpose. Over the years the Ultra Luxury space supply was generally perceived to exist only in major cities like Mumbai, NCR and Bangalore. However, smaller cities have surpassed in number of ultra luxury projects coming up. Recognizing the fast growing demand for the high-end luxury, Amar Builders has diverted its focus on the high end residential luxury segment in Pune. The focus now is on large format homes, with extraordinary amenities and specifications, specifically designed for clientele that seek a bungalow /villa lifestyle within an apartment format.
"We choose to be honest in all our business interactions and transactions and remain steadfast even when challenged as honesty is the best policy," is Amar Builders' motto. Kindly shed some light on this statement by highlighting the role of transparency between buyers and sellers in real-estate sector?
Over the years, I feel that the construction and real estate industry has become more organized, a lot of procedures has set in the entire process and a lot of transparency now reins between buyers and sellers. We ensure timely delivery of products to customers. We ensure ethical business practice in all professional construction services. Till date, not a single client has been dissatisfied with us nor have there been any complaints. In this industry particularly maintenance and quality have been the menace but we ensure we deliver quality driven homes. We establish lasting relationships with customers by exceeding expectations through integrity, innovation and commitment. We offer the best warranties in the industry for all the building projects. We are accountable and accessible. We are a reputed and trusted name in the market.
Project delays have become the weakest link the real estate industry in the country today. Most of the delays are not due to the shortcomings of the developers, but due to the huge delays caused from the approvals needed to achieve prior to a project commencement. Today any developer must factor in, at least 18 to 24 months from the day of the purchase of land for commencement of work. This immediate delay adds to the land cost and thus eventually to the product cost. The only way to reduce these delay would be to stream line the approvals process.
A project has to pass through 56 windows to get the clearance; don't you think if we have a single window clearance system in place, it can save both time and money?
A single window clearance if achieved can radically change the face of the entire real industry in India. Developers will be able to deliver space not only in time but also for much cheaper for the end user. As for the enforcement of rules and regulations, the single window clearance can be supplemented by a city/local level enforcement body, thus making sure that checks and balance are in place.
How do you see the demand for real-estate in the coming months?
Mid segment housing due to more and more people falling in that category and planning to buy their dream house will drive real estate. Even the ultra luxury segment which is less than 1% of the total real estate construction in India also has immense potential for growth.
NBM&CW May 2013
