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The Real sector in India has become one of the fastest growing markets in the world. The growth is enhanced by mainly high immigration, increase in income level, rapid urbanization etc. 2nd Pune Real Estate Conclave held at Westin Hotel, Koregoan Park, Pune, India on Navigating Risks and maximizing investment opportunities in a volatile market attended by all big developers, government officials, journalists and industry delegates. Participating at the conclave all the developers concentrated on the world economic fluctuations causing a change in the local markets and provided a insight as to what to do in these difficult times. They elaborated on various concepts like FSI (Floor Space Index), FAR (Floor Area Ratio) and also mentioned how the projects clearance speed, active role of the local municipality is necessary in to navigate risks for the developers as well as for the buyers.
Panelist Mr. Sunil Mantri, Chairman Mantri Realty Ltd. Spoke about the Real Estate permissions takes lot of time to get through the PMC (Pune Municipal Corporation) which in turn increases the costs and the final product offered to the customer becomes highly priced. Mr Vivek Kharwadkar, Additional City Engineer(Building Permission) Pune Municipal Corporation, ensured the panel and the delegates that the PMC is trying their best to expedite the systems and also trying to make the process easy by making the whole system online. He insisted on promoting the right practices in the real estate sector to the developers and builders.
Mr. Sujay Kelele, CEO, Kolte Patil Developers Ltd. brought a very crucial aspect to the table that because of the lower FAR developers are not able to make high rise buildings and which is resulting of covering more and more fertile land of our country. On the other hand Mr. Sivaramakrishnan AS, Head – Residential Services, CBRE brought out a very interesting point about the 1 BHK apartments in the projects as per the government rule the builder has to accommodate 10% 1BHk flats for the lower income class but he claimed that this is not the solution for the lower income class instead a proper policy on affordable housing is the need of the hour. In support Mr. Sanjay Bajaj, City MD – Pune, Jones Lang LaSalle (JLL) said that lower FAR is resulting into pushing the developers to build products for a higher income class and not offer a suitable product for the lower income class. In support of it he also provided a statistic that there are 2,000 Luxury apartments available in Pune but the demand is for 500 apartments only.
In the after Lunch session Mr. Abhishek Kumar, Vice President, Design and Development, ABIL Group talked about the formalization of the sub contractors as it is the class which directly affects the duration and delivery of the project. He also spoke about the new age construction & sustainable practices to be used so that we can achieve the deadlines without harming the environment at all.
Simultaneous growth in infrastructure with the real estate is a must as the city has to accommodate those many people and the burden on roads, sanitation, electricity, education, jobs etc. Mr. P Shroff, Managing Director, Shroff Group rightly pointed out that the current immigration rate is high and it is increasing day by day Pune being recognized as the Oxford of the east and an IT Hub. Mr. Shashank Paranjape, Managing Director, Paranjape Schemes Pvt Ltd contributed by saying that the Pune is growing at fast pace and the real estate sector has to grow even faster to support the demand.
To conclude 2nd Pune Real Estate Conclave the organizers Confederation Of Indian Industry, Pune, Indian Green Building Council, Pune Chapter, Sponsor – Asahi India Glass Ltd., Owens Corning, Online Partner – magicbricks.com, Publication partner – EPIC, Construction Infrastructure Architect World Magazine, Supported by CREDAI Pune Metro were thanked to organize an event by getting all the dignitaries together and spread their knowledge and experience to Pune.
Author: Ankur Mitna
Ankur Mitna is an entrepreneurial person working with a Dry Construction company as a Business Manager. Have immense interest in Construction and Engineering sector. He thrives to gain knowledge every day and put it to use for making innovative products and services. New technology and writing are his passion. .
Pune, Maharashtra +919552523596 [email protected]