Part I: ‘Realty market can expect revival in the near future’
Jaycee Homes is today one of the leading names in the real estate sector in Mumbai. Having developed enormous living spaces, the company has to its credit executed over 250 projects with more than 10,000 families enjoying the unmatched Jaycee lifestyle.
Currently, the company has many on-going luxurious residential projects at various stages of completion in localities like Bandra, Khar, Santacruz, Juhu, Andheri, Goregaon and Powai. With plans to expand in other states soon, Jaycee Homes is fast growing in Luxury and affordable Housing segment. The company has also successfully undertaken redevelopment projects at Bandra, Khar, Santacruz, Andheri and Goregaon.
With several ongoing and upcoming projects in Mumbai, Diipesh Bhagtani, Executive Director of Jaycee Homes shared his valuable insights on Mumbai’s realty market in an exclusive interview with Commonfloor.com. The interview is divided into two parts. This is part I, which covers company’s upcoming projects along with realty updates. Here are the excerpts.
The market is showing positive signs with the new government at the Centre. How do you see things progressing for the sector in the near future?
The election of the BJP Government at the centre was just the beginning. The real estate business following the presence of a stable government at the centre will get a new start. The Real Estate sector is looking forward to get an industry status, clearance single window system, increased transparency and easy licensing.
With investor sentiments positive, the realty market, can expect a revival in housing demands in the near future. Once fund raising becomes easier for developers it will help make affordable housing possible. An Industry status will contribute greatly to that happening. The governments focus on infrastructure development through improvement in existing roadways and railways will create new locations for housing development.
However, the reality is that things will not change overnight. The real estate industry is influenced by a combination of issues from housing loan rates, policies to funding mechanisms.
There is a lot of unsold inventory in cities across the country. How do you think developers are coping in this situation?
The real estate market is not a homogenous market. There are different segment and each segment has its own performance. The unsold inventory, by and large is at the very high premium end, esp. those properties that were built for investment perspective.
The affordable, and affordable luxury segment is also facing challenges, however these are of a different kind. Developers who work closely with the customers and are tuned to market realities have been correcting their strategies over the past years and streamlining, the locations being selected, the kind of amenities being given and the offers being developed.
An integrated communications plan to interact with the customers at various points, better and professionally managed project management, use of technology across the operations are some of the ways that developers are addressing the situation.
Kindly share with us a brief overview of all your current projects and new developments that are in the pipeline.
Our latest launch is ‘Elegance’ in Andheri west. Aiming at affordable luxury segment, this project truly presents the exclusivity with one flat per floor at an affordable cost of a 2 BHK with modern amenities. It is located at Andheri – the ‘prince’ of Western Suburbs which combines value, style, space and perfect location to give the home buyer their desired lifestyle.
Designed by a renowned architect, Elegance delivers fourteen floors of Manhattan style living grandeur. Each 2 BHK apartment residence exudes luxury and style, with air conditioned apartments, regal ambience, French style casement windows, imported marble flooring, international fittings & fixtures, fully fitted modular kitchen, Intercom system and camera for screening visitors with premium finishes combining to provide you an unparalleled, world-class living experience.
Jaycee Homes sculpts the tranquility of an Oasis Lifestyle exclusively in Ghatkopar – The Executive. A self – contained bliss in itself, the amenities it provides are Fitness centre with Gymnasium, a Yoga & Medication centre to relax, Infinity Edge swimming pool, International Brand Fittings in Bathrooms, Imported Marble Flooring, Kids play area and Ample Car Parking space. The highlights of The Executive is the connectivity from various points with just 2 kms away from The Eastern Express Highway, 8 kms close to the Airport, 3 kms to Powai Main Street, 2.5 kms nearer to Ghatkopar Station and surrounded by Restaurants, Entertainment Hubs & Malls.
Read Part II here: Part II: Real Estate Regulatory Bill to bring more credibility
