RMS Builders – Past, Present Good, Future Perfect

Ravi Mittal
In the yester-years, RMS initiated over-the-top projects that have left a benchmark in the real estate sector. Such initiatives have helped us in enduring long-lasting relationships with clients. The group has distinctive approach to enhance the living style of developed integrated townships as exemplified by RMS Plaza Tronica City project. The Company have their land bank in Delhi NCR, Madhya Pradesh, Uttar Pradesh and Goa, said Mr Ravi Mittal, CEO, RMS Group, in an interview with S.K.Khanna.

Please let us have your historical evolution, companies associated with the Group and their business areas.
RMS Builders Pvt Ltd was registered on 29th of December, 2006 within a partnership deed of nine partners. Our meticulous team members work to carve a living-environment in residential and commercial projects; that is equipped with the modern infrastructure and amenities, as well as committed to offer comfort, better lifestyle, and upward mobility in the planned city. Other functions of the Firm includes sale and purchase of land, factories, residential houses, buying bulk land from the authorities and running housing development activities. RMS Builders Pvt. Ltd. is part of the group known as RMS Group. This group is run by very experienced and effluent members of our society.

Firstly, RMS is introducing the project of five Storey Shopping Complex of 400 Shops, Restaurant, Banquet Hall with Office Space on Plot No. C-1, first of its kind in Tronica City constructed and marketed by RMS Builders Pvt. Ltd.

Secondly, the RMS Group is introducing & highlighting the Residential Housing project in sector-C-6 on a land of approximate 15,400 Sq.mt. by M/s Shraddha Builders & Developers. There are various projects in the pipeline, on which we will add a light gradually.

Would you please like to enumerate some of the executed projects and those currently in hand in commercial and residential space?
In the yester-years, RMS initiated over-the-top projects like RMS Plaza, Tronica City, Signature Residency, RMS Lifestyle and City Centre that have left a benchmark in the real estate sector. Our main idea while unveiling these projects was to let the native enjoy higher level of satisfaction with landscape parks, thematic gardens and lush-green open spaces, such initiatives have helped us in enduring long-lasting relationships with clients.

Our current major project Tronica City sprawls over thousand of acres of prime location in North-East Delhi in district Ghaziabad, where firm has two plots allotted by UPSIDC. Each of these two plots was acquired for construction of residential and commercial complex.

Signature-Residency

In the course of executing projects, what are group's in pre-construction, construction phase and post–construction phase technical and after market services?
At the nascent stage, we commence with parameters like budget, location and style. We provide final detailed pricing prior to construction to ensure best prices. At the budding stage i.e. the construction stage we provide pre-requisite details like monthly progress report, that include photographs, schedule updates as well as problem-solving enquiries of the customers. When the project kicks for final inputs with a fully immaculate furnished home, even then we are just a call away, with a 24-hour reassuring service and bespoke customer service, that is the sole reason for our long-lasting relationship with our clients.

RMS Builders is an important player in the development of innovative township concepts. With your rich experience in this business, how group professional skill and expertise has enabled it to contribute to the growth of real estate in the country?
Real estate development, or property development, is a multifaceted business, encompassing activities that range from the renovation and release of existing buildings to the purchase of raw land and the sale of improved land or parcels to others. Developers are the coordinators of the activities, converting ideas on paper into real property. RMS Builders has been purchasing unused land for a potential development i.e. speculative development.

Subdivision of land is the principal mechanism by which communities are developed. Technically, subdivision describes the legal and physical steps a developer must take to convert raw land into developed land. Subdivision is a vital part of a community's growth, determining its appearance, the mix of its land uses, and its infrastructure, including roads, drainage systems, water, sewerage, and public utilities.

In general, land development is the riskiest but most profitable technique as it is so dependent on the public sector for approvals and infrastructure and because it involves a long investment period with no positive cash flow.

Once subdivision is complete, the developer usually markets the land to a home builder or other end user, for such uses as a warehouse or shopping center. In any case, use of spatial intelligence tools mitigate the risk of these developers by modeling the population trends and demographic make-up of the sort of customers a home builder or retailer would like to have surrounding their new development.

What is the distinctive approach the Group has adopted to enhance the living style of developed integrated townships as exemplified by RMS Plaza Tronica City project? What has been the market response to such projects being undertaking by the group?
Tronica City is indeed a truly self-contained township. The city has well co-ordinated residential area; population free industrial, commercial and institutional sectors. Equipped with the entire primary, secondary and support infrastructure facilities and distinguished features like cement-concrete roads constructed by internationally renowned IRCON. The city that offers easy accessibility to North India's biggest trade and commerce centers, which also has wide approach roads, sewerage and water supply facility, adequate and reliable power supply to be soon supplemented by captive power generation and distribution. Apparel Park with the approval of Govt of India is being set up within the project area. The city is conveniently approachable from scenic Alipur-Bund Road along river Yamuna on the western side and Delhi-Saharanpur Road on the east.

What is your overview of developments in real estate and its market growth?
The real estate sector in India has come a long way by becoming one of the fastest growing markets in the world. It is not only successfully attracting domestic real estate developers, but foreign investors as well. The growth of the industry is attributed mainly to a large population base, rising income level, and rapid urbanization.

RMS-Group

The sector comprises four sub-sectors- housing, retail, hospitality, and commercial. While housing contributes to five-six percent of the country's gross domestic product (GDP), the remaining three sub-sectors are also growing at a rapid pace, meeting the increasing infrastructural needs.

The real estate sector has transformed from being unorganized to a dynamic and organized sector over the past decade. Government policies have been instrumental in providing support after recognizing the need for infrastructure development in order to ensure better standard of living for its citizens. In addition to this, adequate infrastructure forms a prerequisite for sustaining the long-term growth momentum of the economy.

The government has recently given its nod to create real-estate watchdog in the form of a regulator to promote transparency and ensure speedy resolution of disputes. Do you think that various provisions provided and proposed in for Real Estate Regulation and Development Bill adequately address the concerns of the industry as well as consumers? What could be your suggestions to make it more comprehensive in terms of current market realities?
This bill although is welcomed by the realty-sector with open-arms but for me, it is surely bound to incur a mixed-response. Real-Estate Bill influxes a requisite step by initiating a regulatory authority to ensure transparency in this sector. This body would listen to our grievances, which could speed the time-framed projects. The requirement of a license from the property-brokers would also curb the fraudulent practices, against the people who pretend to be brokers. Real-Estate bill on some aspects appears to be tad-harsh for realtors. There are times when project delays due to unavoidable circumstances, which could lead to refund for buyers, resulting in loss incurred to the realtors. With the 70% amount to be kept in escrows hand, this is an unnecessary step to further delay the process in pipeline. Thus I feel the bill could have been so framed that both, the buyers and sellers could be benefitted equally.

RMS-Builders

A word about the business performance of RMS Builders and its associated companies. What is the impact of slowdown spell in real estate and how has the group as well as its companies been able to keep the tempo of its business performance, adhering to its commitment towards fairness, assurance of affordability, and trustworthiness of its clients?
If we talk about the performance of RMS Builders and its associated companies, the group is doing well and almost 80% projects have been sold and we are on the stage of delivering the projects to our customers. We haven't seen any slowdown spell in our projects because our price are so reasonable comparatively with other builders, but commitment toward fairness, assurance of affordability and trustworthiness are related fundamental doctrine that define ethical conduct in society. For that our group representatives ask our clients to visit the site and see the progress of the work and if they have any problem they can directly contact with the higher management.
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