says Mr. Shivanand Samant, CEO, Supreme Housing.
Please introduce Supreme Housing to our readers, its growth over the years, focal areas, and vision.
Supreme Housing is promoted by the Sharma family and was incorporated in the year 2006 with a focus of providing premium residential, commercial, retail, hospitality, and social infrastructure space in Powai and across Mumbai.
The company has established its mark in the field of real estate development. Supreme Housing is an established brand with emphasis on contemporary architecture and design.
The company has completed a Business Park at Powai measuring 12 lac sq.ft consisting of 7 lac sq.ft Offices, 3 lac sq.ft Terraces, and 2 lac sq.ft Parking/Services. There are plans to develop landmark high- rise residential projects, including a business hotel, high end luxury villas, redevelopment project, and SRA project across Mumbai.
Apart from this, we are also open to developing small/mid-sized projects on a joint partnership basis and undertake redevelopment projects with moderate finance requirements.
Supreme City is the Foundation Stone for Supreme Housing. Prominent Landmarks like IT Park, and the Business Hotel will go a long way in building the brand, and increase brand recall for our upcoming projects.
A word about your notable commercial, residential, retail, hospitality, and other projects. Please shed light on the design philosophies of these projects and the role of architects in the entire process.
Supreme Housing is focused on providing premium residential, comm- ercial, retail, hospitality, and social infrastructure space. Some of our completed and ongoing projects are:
- IT Park: 12 lac sft consisting of 7 lac sq.ft Offices, 3 lac sq.ft Terraces, 2Lac sft Parking/Services
- Hilton Garden Inn, Powai – 120 Suites, 50,000 sq.ft area
- Sky Vie Villas, Powai – 9 Bungalows of 9,000 sq.ft saleable area each
- Oregon Hills, Goregaon – 600,000 sq.ft saleable area
- Aishwarya, Powai – 60,000 sq.ft area, 25,000 sq.ft saleable
We collaborate with Indian and international architects for our projects, giving a more global outlook in design and aesthetics. This provides home buyers with an identical product and lifestyle quotient that an Indian home buyer may find in any other city of the world.
The cost of building a green structure is high and it pushes the overall project cost upwards, which in turn is passed on to the buyers. How are you synergizing these two aspects?
The Green Building concept is fast gaining ground in India due to greater awareness about the environment that we live in. Green buildings provide a lot of benefits to the developer community, home buyers, and to nature at large. Developers benefit as they get sops from government and home buyers benefit as maintenance cost goes down over a period of time as they save on water and power consumption. Green buildings also improve productivity of people working in such buildings by providing a healthier environment. Both residential and commercial buildings retain a high resale value if they include green design components thus giving better appreciation on resale value. High end property buyers do not mind paying a premium for such properties as over the years they gain to benefit in terms of lower maintenance cost and high resale value.
How do transparency and ethical business practices (right from conceptualization of a project to selling) help builders and end-users?
Transparency and ethical business practices are going to be the pillars on which the business of real estate will be rooted on. The government is working on positive policy measures that will improve the working of the realty industry, making it more professional and competitive.
We believe in providing our customers with innovative products resulting in end-user satisfaction along with focusing on execution and transparency. We position ourselves in the premium affordable housing space segment. We see tremendous growth and opportunity in this space. With a reasonable land bank, this offers our company tremendous scope for development and growth.
In the current financial crunch, banks are quite reluctant to finance projects. How are you managing your operations in such a scenario?
The major challenge that the real estate sector faces today is financing of projects. Most banks are averse to lending due to stress in the sector. Constantly changing permissions regime – Fungible / Road width/recreation grounds pose a challenge for project planning and therefore projects get delayed. Also, global economic slowdown, domestic political uncertainty, high borrowing costs, delayed project approvals, high home loan interest rates and unsold inventories are some of pressing concerns of the real estate sector.
The Urban Ministry has recently given green-signal to vertical construction upto 20 stories. Nevertheless, such highrise construction is still quite new to India and entails adoption of newer construction technologies. For instance, when we talk of North India, susceptibility to earthquakes is a pinching reality. How are you tailoring your approach to address all these concerns?
Given today's technological advancement in building construction, the materials used are of light weight but yet strong and durable. Indian developers today are collaborating with internationally renowned architects for their projects, bringing to table international technologies along with quality construction.
Some of the major benefits of high-rise buildings are space optimisation especially needed for a congested city like Mumbai. High rises decongest and do not increase the footprint, thus increasing much needed green cover.
What about your housing business and your expectations from the new government?
The real estate industry has high expectations from the new government at the Centre. The recent budget has amply exemplified the path envisaged by government for the housing and infrastructure industry. We see tremendous growth opportunity in the near future.