Today India has one of the largest young populations in the world and it is necessary for the nation and its developers to fulfill the basic demand of homes for its youth. Anyone who can fulfill this demand with a clear context of which market they are dealing with shall be the winner. Housing cannot be investor driven as it has to find reality in the shape of end users.

Suditya Sinha, Vice President (Projects), BIDPL shares his views with Sandeep Sharma about his company, upcoming projects, realty scenario in NCR, commitment to the buyers, green building development, township development and solution to India’s housing problem. Edited Excerpts…

How long you and your company have been part of the real estate sector? Could you brief us about your company, mission and objectives?

We have been in the business of real estate for more than two decades now. Having accessed the wealth of knowledge and expertise in land consolidation and plotted development we are now moving into the high-rise sector. Our aim and objective is to provide fulfilling and holistic habitats to society and people. For us the greatness of this nation lies in its simplicity and knowledge. We would like to learn from this and provide intelligent, efficient and environmentally conscious habitats to all our dwellers.

How is the realty scenario in NCR? Do you have any projects happening in Greater Noida where the builders & developers are caught up in the land acquisition row?

BIDPL has substantial land holdings in Sectors 109, 110 and 112, Gurgaon, adjoining Dwarka Expressway. Lumbini Terrace Homes (LTH), our residential complex in Sector 109, with design and ambience based on the Zen philosophy is the first and only one in NCR to receive the coveted CRISIL 4-star rating for the viability of the project. As for Greater Noida, I would like to add here that the policy makers need to re-look at how land acquisitions are done and find a way by which the benefits of any project is spread across all the stake holders. We cannot have safe and secure habitats or communities where exploitation supercedes empowerment.

Could you please tell us about your upcoming projects in NCR region, mainly Lumbini Terrace Homes (LTH)?

Lumbini Terrace Homes (LTH) in Sector 109, Gurgaon is a 10.79 acre residential project, with an outlay of Rs 125 Crore. The residential complex is adjacent to the growth corridor namely, the 210 meter-wide upcoming Dwarka expressway (NPR). Lumbini Terrace Homes are inspired by the evergreen birthplace of Buddha and the desire to facilitate a balanced and wholesome lifestyle among residents. It’s going to be housing near about 300 families, having the choice of 3, 3+1 and 4+1 BHK configurations. Each family will have their own personal garden space and all rooms overlooking this large terrace and pocket garden. We wanted to increase the per capita greens for each of our dwellings, what it also does for each family is that it reduces their carbon footprint, while the community in totality does that little bit to cut down on the heat island phenomenon that NCR is witnessing.

What’s your commitment to your buyers at large? How do you plan and execute your project cycle to deliver your customers on time?

We have our own in-house project control team in addition to the team of engineers and project managers. All project management techniques have been deployed at site with EVMs system that we are following. The project is being monitored by external agencies like CRISIL along with our peer reviewers and external advisors. We have a good contractor in ACIL (Ahluwalia Contracts). Most importantly the entire project planning is in place and we spent a good 8 months to plan the project before launching it for our customers. We also had our sample flat ready prior to our launch, our working drawings were in order and the finances in place.

How is the current year so far in terms of projects announced and completion of existing ones?

Very good. The 1st Phase of our CRISIL Star Rated Project, ‘LUMBINI TERRACE GARDEN HOMES’ in Sector 109, Gurgaon got fully sold on announcement. We are looking forward to a similar response to the next phase and to the announcement of our other projects.

Could you please tell us about the incorporation of green building aspects in your project?

With 76% open space of extensive greening, waste management, reduced energy consumption and lead free paints in the entire complex and with special emphasis on extensive greening, solar and renewable energy, optimum waste management and energy and water harvesting, Lumbini Terrace Homes will set a precedent in responsible and wholesome living. Planned with eco-friendly measures the apartments are being built to invoke an enlightened lifestyle with all conceivable amenities in a calm and peaceful environment. Lumbini Terrace Homes will on delivery become a benchmark in sustainable habitats. From the time of excavation, reduction in site disturbance was implemented to check soil erosion. The soil conditioning and moisturizing, along with reduction of heat islands and grid paving will deliver a refreshing landscape. On the civil and electrical side, LTH will have energy efficient building materials, window panes and fittings. The added green pockets, usage of CFL, LEDs and solar panels is aimed at reducing the overall power consumption.

What kind of initiatives are you taking to improve the confidence among the real estate buyers in times of low off-takes?

External monitoring system by CRISIL; financially sound contractors, and minimized broker sales to ensure end user purchase thereby minimizing chances of dead stock and speculative buying. We offer a great deal of transparency to our customers. They are able to visit our offices and review all the legal paperwork whenever they want to satisfy their queries. We are going to start communicating regularly with them through quarterly newsletters and we will be updating our website on a monthly basis with facts about the progress being made at the construction site.

Which segment out of affordable and luxury housing can be a winner in the longer term?

We do not believe that homes can be created in such a context. Affordability and luxury are segments created for disguising the actual value of any project. However, to answer your question the winner in long term is anything that is sustainable and cost sensitive. Today India has one of the largest young populations in the world and it is necessary for the nation and its developers to fulfill the basic demand of homes for its youth. Anyone who can fulfill this demand with a clear context of which market they are dealing with shall be the winner. Housing cannot be investor driven as it has to find reality in the shape of end users.

What’s your take on the concept of development of sustainable township in India? Is it feasible in India?

Yes, and sustainability is more about common sense than getting a LEED rating. India has a rich history of sustainable practices; we just need to look inwards rather than westwards.

What's your recommendation to solve India's growing housing deficit?

Appropriate housing that is cost sensitive and not based on speculation. Reality needs to be more grounded to a common man’s needs, requirements and aspirations.