Economy & Market
The realtors experience will be limited to their markets.
Published
3 years agoon
By
adminLocation, location, location. Is it all that matters in realty? Ram Raheja, Director & Head-Architecture at S Raheja Realty, knows that every area and every project is different and calls for a customised strategy. In the so-called sluggish realty market, S Raheja Realty delivers projects on time, with a range that has something for everyone. Ram Raheja shares his enthusiasm about his projects and his positive outlook with ICR. Excerpts from the interview.
Tell us a bit about S Raheja Realty.
S Raheja Realty is a part of the same Raheja group. My grandfather and his three brothers launched Raheja Brothers in the 1950s. Eventually in the 1970s, the company first split; now there are about seven to eight Raheja companies in the market. Raheja Realty started with my grandfather Girdharidas Raheja, then it was handled by his son Shyam Raheja and now, I run it. We are a third generation real estate group.
We have four very distinct sectors in our group, one being redevelopment in different parts of Mumbai. We have recently launched two sites, while another one was launched at the beginning of the year.
Then we have the other sector, which is corporate development. In corporate development, one example is the Hinduja Health Care in Khar; that was done completely by us, including land procurement, liasoning for approvals, construction, f architecture, interiors, finishing, up to giving the clients the complete finished product in the stipulated time period. Another example is in Mahim, where we have a 22-storey tower under construction.
Our third sector is mid-income housing. We call it luxury mid- income housing as we are building it in the most prime locations of cities, for example Palghar, Varanasi, etc.
In Palghar, we have just finished the Raheja Pride, Phase-I, which we launched last year. We finished it in about one ûand- a- half years, again a completely luxurious standard compared to anything you can get in the city. For this project, we have from imported tiles, modular kitchens, landscaped gardens and more.
The fourth sector of our group is building second homes, luxury second homes outside Mumbai. For example, we have finished a project in the Pune region. We also have a project under construction right now, Raheja Cascades in Lonavala.
We hear realtors speaking about the slow down in the market. Do you feel that the demand for real estate is subsiding?
It totally differs from area to area, project to project. There are areas which have a good demand and good supply. For example in Mumbai itself, you cannot take Mumbai as an entire one single real estate market. Mumbai has different areas which actually run their own market and where it has its own real estate sector, its demands, its own supply dynamics, its own economics. Lower Parel is a market on its own and so is Lokhandwala or Kalina. So, every area is unique in its own context because of the segregation of our city and the experience of realtors will be limited to their markets. The price ranges vary widely from one area to the other,sometimes within a ten-minute drive between each area. I would say the market is slow in areas where the supply is in excess and the demand is limited.
So choosing a location becomes all the more important today.
Yes, we are very careful in choosing the location, making sure that there is a need for housing with limited supply.
Tell us about the new projects that you will be launching soon.
We have another other 400 units in Palghar, which we will be launching soon. We have a large- scale project coming up in Lonavala next to our Raheja Cascades. Raheja Cascades was launched about a month ago and now we are launching Natraj and Gurukripa both in Kalina. We have a few more redevelopment projects that we will be launching next year. Then again, we do not launch until all our approvals and everything else is in place.
In general, what are the challenges faced by the realty sector in India?
The input costs for everything has gone up. Also, the markets have become very uncertain now. There is uncertainty in the stock market, uncertainty about the political scenario. This increases the cost of our products. It is difficult for buyers to make a decision in such a volatile environment.
What are your expectations from the government?
Speed and clarity in the approval and regulatory process.
A lot of realtors are trying to attract buyers by launching green buildings. What are green buildings?
It can mean a lot of things, that is why today you have certifications. It can mean that the materials used in the construction are green. One has to choose and decide on what aspect of the building could be made sustainable. Internationally you get cycle parking locations in a green building. Now in projects like these in India, rarely do people ride a cycle. So you know it just depends on what is actually viable in terms of making it a green building. You can have modern sustainable bricks, to traditional methods of cross-ventilation which is the most traditional form of saving energy, or you can create an architecture with better natural lighting. I would go back to the original form of architecture like that seen in the Hawa Mahal which creates cross-ventilation.
In a city like Mumbai, you can go into things like sustainable material, rainwater harvesting, solar panel, etc.
Growth of sustainable architecture/ Green buildings
- The current penetration of green building in the country is 5% (1,909 buildings). However, it is gaining momentum and could account for 20% of all constructions by 2030. Today, Maharashtra tops the national figure with the highest number of green buildings, followed by the National Capital Region. Tamil Nadu holds third position.
- The cost implications involved in developing green building properties are higher by 10-15 per cent than regular construction costs. However, they involve major long- term benefits
The demand-supply scenario - 16,053 houses have been put on draw to 11.25 lakh applicants. This only shows that the city is facing an acute shortage of affordable housing and it has become imperative for builders to explore ways to stock mid-cap houses. Builders are now looking at developing the Charkop, Kandivli, Malvani, Palghar areas.
Ram Raheja is responsible for architecture and design departments within the organisation. He has over eight years of comprehensive experience in all phases of architectural services and design in India and abroad.
S Raheja Realty is an integral part of Indias real estate landscape. The promoters are three generations into real estate with a focus on luxury residential and commercial development in Mumbai. In the recent decade, they have ventured into affordable housing in mini metros and second tier cities, delivering quality lifestyles at affordable prices. Today, S Raheja continues to revolutionise the real estate industry with an intuitive vision to incorporate evolved architectural practices and develop projects that are sustainable and secure.
Project highlights: Cascade- luxury villa project;
Palghar Prime- affordable housing project, S2 Mahim & Hinduja Healthcare; Khar- corporate development; several re-development projects in Khar, Kalina & Bandra, Tier- II projects in Pune and Varanasi.
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As part of the 10th India Construction Festival, the RAHSTA Awards recognised outstanding contributions to the road construction industry.
On October 10, 2024, the RAHSTA Awards were held at the Jio Convention Centre in Mumbai, forming a significant part of the 10th India Construction Festival. This esteemed event serves as a pivotal platform for recognising and honouring outstanding contributions in the road construction industry, particularly those that prioritise sustainability, innovation and excellence.
RAHSTA, an acronym for ‘Roads and Highways Sustainable Technologies & Advancement’, has become synonymous with the promotion of advancements in road construction equipment and technologies. Organised by the FIRST Construction Council, the awards seek to highlight the importance of sustainable practices in infrastructure development and celebrate those organisations that lead the way in this critical area.
At the event, Pratap Padode, Founder, FIRST Construction Council, underscored the importance of skilling the workforce in the construction sector. He pointed out that construction is India’s second-largest employer, with the potential to reach 100 million jobs by 2030. However, he emphasised that a significant portion of this workforce remains unskilled, with 80 per cent of the 70 million workers lacking adequate training.
“To bridge this skill gap, we must incorporate practical orientation in engineering and management courses,” Padode urged. He highlighted the Indian Government’s initiative to onboard 1 crore interns through CSR funding over five years, encouraging construction companies to participate actively
in this programme. By doing so, he said, the industry could not only enhance skill development but also position itself for future growth and sustainability.
The RAHSTA Awards recognised seven outstanding contributions to the road construction sector, celebrating innovations that drive sustainability and efficiency:
- Award for Highest Standards of Excellence in Road Engineering & Construction: Patel Infrastructure
- Award for Excellence in Bridge Engineering: L&T Construction, DIAL Phase 3A Project
- Best Road Financier Award: HDFC Bank
- Award for Best Use of Waste Material Recycling in Road Construction: Tata Steel
- Best Digital Technology Award in Road Building: Cube Highways and Transport Assets Advisors
- Award for Excellence in Project Management: Haryana Rural Road Infrastructure Development Agency
- Innovation Award in Project Execution:
- CC Precast Solutions
Indeed, the RAHSTA Awards 2024 were more than just a ceremony; they represented a vital call to action for the road construction sector in India. By highlighting the importance of sustainability and technological advancement, the awards inspired industry stakeholders to strive for excellence
and innovation.
As the event concluded, it left attendees with a renewed sense of purpose and a collective vision for a more sustainable and efficient future in infrastructure development. The RAHSTA Awards stand as a testament to the possibilities that lie ahead when industry leaders come together to embrace change and foster growth.
The titans of the construction equipment industry were honoured at the 12th BKT Equipment India Awards 2024.
On October 10, 2024, Mumbai played host to the much-anticipated 12th BKT Equipment India Awards 2024, an event that recognised and celebrated the outstanding achievements within the construction equipment sector. The grand ceremony took place at Jio Convention Centre and was among the highlights of the India Construction Festival, which gathered industry leaders, manufacturers and financiers from across the nation to honour innovation and excellence in this vital sector.
The inaugural addresses set a reflective tone for the evening, emphasising the importance of collaboration and information sharing within the industry. In his opening speech, Pratap Padode, Founder, First Construction Council, remarked, “At Equipment India, we have always tried to enhance the standard of the industry. During this 17th year of our existence, we still find that companies are trying to hide behind a veil as far as the disclosure of factual data is concerned.” His emphasis on transparency resonated with the audience, highlighting the critical need for the construction equipment sector to adopt best practices for data sharing, akin to those seen in the automobile industry.
For his part, Vipin Sondhi, Chairman, RAHSTA Committee, and former MD and CEO, JCB India and Ashok Leyland, also shared optimistic insights, stating, “Today, we celebrate not just the figures but the remarkable individuals behind them – the innovators, manufacturers and teams that push the boundaries of what’s possible.” He highlighted the impressive growth of equipment sales, which saw a 26 per cent increase during FY2023-24, reflecting strong market recovery and renewed confidence.
The 12th BKT Equipment India Awards not only celebrated the achievements of key players in the construction equipment sector but also served as a reminder of the collective effort required to drive the industry forward. The event reaffirmed its commitment to supporting the industry’s ongoing evolution, ensuring that India remains a significant player in the global construction equipment market. With the industry poised to grow at a CAGR of 12 per cent, reaching $25 billion by the end of the decade, the evening left attendees inspired and motivated to continue pushing boundaries in their respective fields.
A significant highlight of the evening was the presentation of the Equipment India Person of the Year 2024 award to Jaideep Shekhar, Managing Director, Terex India. Under his astute leadership, the company has achieved remarkable growth, marked by innovation and a commitment to excellence. The jury praised his strategic vision, which has not only propelled the company’s success but also contributed positively to the broader industry landscape.
Receiving the award, Shekhar expressed heartfelt gratitude, stating, “I’m deeply grateful to the jury and Equipment India for this remarkable honour. This award reflects not only my contributions but also the dedication and hard work of my team. I have been associated with the industry for more than 25 years and this award motivates me to keep pushing boundaries and to lead the growth
with integrity.”
The award presentation was made all the more special by the presence of previous winners of the Equipment India Persons of the Year, including Vipin Sondhi, former MD and CEO, JCB India (Equipment India Person of the Year 2013); Sandeep Singh, Managing Director, Tata Hitachi Construction Machinery (Equipment India Person of the Year 2015); and Dimitrov Krishnan, Managing Director, Volvo Construction Equipment India (Equipment India Person of the Year 2013).
The event also witnessed the recognition of numerous companies across various categories, showcasing the best of the best in the construction equipment sector. Indeed, as the industry gears up for future challenges, the awards stood as a testament to resilience, creativity and the unwavering spirit of collaboration. Together, the participants are set to build a brighter tomorrow for the construction equipment industry in India, fostering innovation and sustainable practices that will serve the nation for years to come.
Winners of the 12th BKT Equipment India Awards
- Equipment India Person of the Year 2024:Jaideep Shekhar, Managing Director, Terex IndiaGreen Factory of the Year: Tata Hitachi Construction Machinery
- Best After-Sales Service Provider: Tata Hitachi Construction Machinery
- Concrete Pumps: Schwing Stetter India
- Truck Cranes: Sany Heavy Industry India
- Asphalt Plants: Ammann India
- Asphalt Finishers: Ammann India
- Batching Plants: Schwing Stetter India
- Crawler Cranes: Sany Heavy Industry India
- Piling Rigs: Sany Heavy Industry India
- Rigid Dump Trucks: Caterpillar India
- Motor Graders: Caterpillar India
- Mini Excavators: Tata Hitachi Construction Machinery
- Crawler Excavators: Tata Hitachi Construction Machinery
- Mobile Cranes: Action Construction Equipment
- Crawler Dozers: BEML
- Skid-Steer Loaders: Doosan Bobcat India
- Wheel Loaders: LiuGong India
- Self-Loading Concrete Mixers: AJAX Engineering
- Tower Cranes: Action Construction Equipment
- Compaction Equipment: Case Construction
- Mobile Cranes: Action Construction Equipment
“I congratulate ASAPP Info Global on the outstanding success of the conference and award shows! It was a privilege to be part of such an insightful session with industry leaders.”
– Sanjay Koul, President- India and South East Asia and Managing Director, Timken India
Concrete
22nd CONSTRUCTION WORLD Global Awards Excellence Revisited!
Published
1 month agoon
November 23, 2024By
RoshnaAt the 22nd CONSTRUCTION WORLD Global Awards, over 50 awards in 21categories were presented to industry stalwarts.
The 22nd CONSTRUCTION WORLD Global Awards, was held on October 9 and 10, 2024, at the Jio World Convention Centre, Mumbai, and hosted by infrastructure think-tank FIRST Construction Council in partnership with CONSTRUCTION WORLD (CW) and Equipment India (EI) magazines. Incidentally, the spectacular RAHSTA Expo was India’s first indoor trade fair for construction equipment technology.
Benchmarked to global standards
At the inaugural session, Sanjay Bhatia, Upa-Lokayukta, Government of Maharashtra, along with Vipin Sondhi, Chairman, RAHSTA Expo Committee, and Pratap Padode, Founder, FIRST Construction Council, inaugurated the RAHSTA Expo. Expressing delight at the huge display of construction technology, Bhatia said, “The expo has put the construction industry on an international standard. India is experiencing nation-building at a robust pace and I am truly impressed with the work now being done by our youth with their startups, many of whom are showcasing their innovation here.”
Special bytes
At the 22nd CONSTRUCTION WORLD Global Awards, over 50 awards in 21 categories were presented to over 50 companies.
“I am thrilled to accept this award on behalf of Century Ply,” said Anup Mangaserri, Chief Executive Officer – Laminates, Century Plyboards India.
“It’s an honour to be recognised and I extend my heartfelt thanks.”
“Tata Consulting Engineers has made significant strides in nation-building projects in India and
high-impact engineering efforts abroad,” said BR Parthasarathy, Senior Vice President and Head – Infrastructure Cluster, Tata Consulting Engineers (TCE), sharing his pride in receiving the ENR Award. “This recognition underscores our global capabilities and we are honoured to be part of this journey.”
For his part, Sarat Chandak, CEO, H&R Johnson, said, “We are truly delighted to receive this award as the most admired brand in the construction world. This recognition reflects the dedication and hard work of the brand over its six-year journey in India. Thank you for acknowledging our efforts.”
And Sandeep Desai, Executive Director, and Ananta Rayaprolu, Director, Afcons Infrastructure, noted, “This is a proud moment for the entire Afcons team to have this particular trophy and prestigious award. Afcons has always been at the forefront of extreme engineering, and we are really happy for this acknowledgment, which motivates us to continue pushing the boundaries of innovation.”
Joining the chorus of gratitude, Manish Kumar, Executive Vice President, ITD Cementation, stated, “It is an incredible honour to receive this award and to be here for this event, which is very well organised. Being recognised among the best of our peers in the industry is truly a privilege. I accept this on behalf of my team and company and we are deeply grateful for this recognition.”
Many winners addressed the efforts that led to their recognition. “We are extremely proud and thankful that our founder has received the CW Person of the Year (Private Sector) award,” said Hardik Agrawal, Director, Dineshchandra Agrawal (DRAIPL). “This recognition reflects the relentless efforts of the entire Dinesh Chandra Group. We are deeply motivated by this honour and we thank the CONSTRUCTION WORLD Global Awards for this acknowledgment.” And Lalit Chhabra, Managing Director, PINI India, added, “It is a tremendous honour to receive this award. We are delighted that our global efforts have been recognised. This is a testament to what we have done in the past and our hard work. We look forward to improving our ranking in the years to come.”
Sharing his excitement, Ryoya Watanabe,
Senior Manager – BD & Marketing Division, Nippon Koei India, said, “We are headquartered in Tokyo and I am excited and honoured to accept this prestigious award. Thank you very much for this recognition.”
Meanwhile, Saji Samuel, Executive Vice President (Long Products), JSW Steel, brought the conversation around to India’s bright future. “I feel elated with this award because this is going to propel India into a five trillion-dollar economy as quickly as possible,” he remarked. “I wish CONSTRUCTION WORLD all the very best and hope many new companies will participate in this event going forward. I feel very proud to hold this trophy in my hand on behalf of my company.”
This collection of leaders from different sectors was a showcase of the diversity and excellence celebrated by these prestigious awards, marking significant milestones in their respective industries.
As Rajiv Poddar, Managing Director, BKT, observed, “India Construction Festival 2024 has once again proven to be an invaluable platform for the construction equipment industry. The convergence of innovative ideas and collaborative efforts showcased here reflects our collective commitment to growth and excellence. Congratulations to ASAPP Info Global for orchestrating such a successful event and to all the award winners – your achievements are a testament to the bright future of our industry.”
An event to remember Another highlight of the event was the launch of Pratap Padode’s book, Tarmac to Towers – India’s Infrastructure Story.
Indeed, in keeping with tradition, the annual CWGA Awards ceremony was a memorable celebration of architectural achievements and a platform for dialogue on critical issues affecting the construction industry.