The market scenario in the Mumbai Metro region has been in a very volatile stage currently. The fluctuation varies from good to bad. In the future, we expect it to improve, as changes are happening in the policies by the government. So the expectation is to have higher positive levels and some negative changes in the coming year. The permissions related issue are the biggest challenge today in the real estate market, the interest rates and the premiums too pose as a hurdle in the projects to become viable and affordable.
Dhaval Ajmera, Director, Ajmera Realty & Infra (I) Ltd shares his view with Sandeep Sharma about Ajmera i-Land project, emerging trends in the Indian real estate sector, effectiveness of Pre-Engineered building systems, market scenario in Mumbai Metropolitan region, opportunities of luxury housing segment, need to streamline Construction/Project Finance in India.
What's the inspiration behind Ajmera i-Land project in Mumbai?
Comfort with luxury is the inspiration behind Ajmera i-land project. We want to provide our buyers the best of comfort and extreme luxury for their dream house. Ajmera i-suites have been specially built to transform the buyer’s home into a world, that’s surrounds colossal lifestyle. The master plan of the project is done by world renowned New York based architect "SOM", the designers of Dubai's Burj Khalifa.
What are the unique features of this project and how far it has progressed so far?
For the Ajmera i-Land project, up dated technologies are used in terms of construction as well as automation for our buyers. The project uses MIVAN system that gives a quicker construction output along with a better finishing. Also better machinery is used in our building projects to provide best output quality. Recently, i-suite, luxury 4BHK tower was launched under i-land project which includes unique features like walk- in wardrobe, spacious bedrooms, home automation system, VRV Air conditioners etc.
Why should one buy property in Ajmera i-Land?
Ajmera i-Land, the super luxury high rise property, is a world of designer living that lets you enjoy both the serene majesty of nature as well as the advantages of a world-class township. On one hand, it has the most arresting views of the sprawling natural vistas of the infinite sky, the Arabian Sea, the rolling hills as well as the breathtaking cityscape. While on the other hand it has an exhaustive roaster of lavish lifestyle amenities within its complex as well as excellent connectivity and close proximity to city’s destination of Work, Leisure or Entertainment. It is also Mumbai’s only integrated township connected with the Monorail and Eastern Freeway.
Could you provide us insight about the emerging trends in the Indian real estate sector?
A key trend that has emerged in the last couple of months was on the affordable housing sector erupting in the market where a major developer industry ventured into the same. This trend was witnessed in a number of parts of the city, especially the outskirts along with the other parts of the country. The boost that happened in terms of affordable housing has created a new wave for developers and has been a key highlight for 2015 and will continue to be soon in 2016.
Construction technologies are going to be another major trend in the coming year, with the right kind of pricing and amenities.
Every project should be mini city or a smart city within itself. The opportunities and amenities should suffice enough for the person’s daily requirements; this trend too will be major one in the coming year Brand value of the developer too plays a vital role in any future projects to come These are the four emerging trends from the real estate sector that will rule in the coming year.
How is the market scenario shaping up in Mumbai Metropolitan region?
The market scenario in the Mumbai Metro region has been in a very volatile stage currently. The fluctuation varies from good to bad. In the future, we expect it to improve, as changes are happening in the policies by the government. So the expectation is to have higher positive levels and some negative changes in the coming year. The permissions related issue are the biggest challenge today in the real estate market, the interest rates and the premiums too pose as a hurdle in the projects to become viable and affordable. Primarily, the permissions, premium, clearances of government policies are the 3 major challenges what are faced in project sales.
What kind of opportunities do you foresee in luxury housing segment?
Today, if we look around most of the people wants a luxury lifestyle. Everyone tends to enjoy luxury at their own level. When it comes to real state, opportunities like indoor gym, swimming pool, huge car parking etc are what people look up to as part of luxury .As time is changing more and more unique features, new technologies, impressive designs and latest architecture are being included in the luxury housing segment. Builders are also collaborating with international designers and architecture to provide the best luxurious home possible.
What's your take on the need to streamline Construction/Project Finance in India? How do you meet your funding requirements?
Today, funding is witnessing a huge upsurge in India and we see a huge opportunity coming in from the same. But at the same time the restrictions too need to be opened by the RBI in terms of funding on the land. The government should also make certain policies in the banking sector which will help the developer to take funding on the land. When the government opens up funding for land, it definitely will result in huge opportunities in the banking sector as well as the real estate sector.
What’s your take on sustainable construction and green building development? What's your contribution towards green building development?
Buildings, infrastructure and the environment are inseparably linked. Materials, energy, water and land are all consumed in the construction of buildings and infrastructure. These consecutively become part of our living environment, affecting our living conditions. It is therefore vital to explore environmentally and economically sound design and development techniques in order to design buildings and infrastructure that are sustainable, healthy and affordable, and encourage innovation in buildings and infrastructure systems and designs.
For sustainable construction and green building development, we use recycled material for the construction of the projects, Fly ash bricks along with developing OWC: Organic Waste Converter, STP: Savage Treatment Plant and Solar Heater in all the projects for a longer durability and eco friendly environment.
ONGOING AND UPCOMING PROJECTS IN THE RESIDENTIAL AND COMMERCIAL SEGMENT
Project Name: Ajmera i-Land. Location Wadala (E), Mumbai BHK Type 2,3 &4
Ajmera i-Land: Vibrant Mumbai’s elegance embodied 100 acre new age township planned to perfection for higher living on par with international hot-spots. Ajmera i-Land the super luxury high rise property is a world of designer living that lets you enjoy both the serene majesty of nature as well as the advantages of a world-class township.
Project Name: New Era Yogi Dham Phase IV, Location: Kalyan West, BHK Type: 1 & 2
The New Gen homes offer 1 & 2 BHK apartments. This township located far away from the polluted city is in the midst of lush green landscape and soothing climate to make sure that you get what you aspire for! Consisting of Multi storey towers housing 1 & 2 BHK flats, you will find a home which will give you all that you have always searched for!
Project Name: Ajmera Heritage City, Location: Khardi Shahapur Thane, Bhk Type: 1RK, 1BHK, 2 BHK It’s a prestigious 100 acre of world class development, comprising a series of towers, with best in-class recreational facilities in the lap of nature.
Project Name: Ajmera Pristine, Location: Borivali West, Mumbai, BHK Type: 3BHK Pristine now embarks on the final leg of the journey to the peak with Wing ‘C' after the stupendous success of ‘A‘ and ‘B‘ Wings, Wing ‘C' is envisioned to be unique in itself, with a lifestyle far more aristocratic than ever seen in Pristine before.
Commercial Project: Ajmera Summit, BKC ANNEX, Mumbai