Till a decade back such was the mad rush for raising money in the capital market that even the real estate companies with limited presence in select micro markets started launching projects across the country to showcase a pan-India presence. Significant increase in housing demand, organized retailing and liquidity boom from 2003 to 2008, led to huge increase in land prices and real estate values and most real estate companies had a great run.
MORE till date has invested capital in the real estate sector through three real estate funds and PMS/ Prop investments. Today, cumulative AUM under MORE stands at more than INR 2,100 crore spread across IREF (INR 200 crore), IREF II (INR 500 crore), IREF III (INR 1030 crore) and balance under PMS / Prop Investments.
India’s most admired and trusted real estate brand has won the “Iconic Real Estate Brand Award” at the India Best Brand Series and Awards (IBBA) 2018 held recently in Delhi NCR. These awards recognise the brand strength and success stories of corporates, SME’s, entrepreneurs and start-ups. The winners were selected on the basis of brand audit, consumer mapping, and jury ratings.
Although sustainable real estate is still in a nascent stage in the country, India is actually one of the leading counties when it comes to green buildings development. In fact, India ranks only second after the U.S. in terms of the number of green technology projects and built-up area.
The quintessential offering of this project is views of the 225 acre Mahalaxmi Racecourse, uninterrupted views of the Arabian Sea on the horizon, Willingdon Golf Course and the expansive Mumbai Harbour.
The joint venture, Krisumi Corporation Pvt Ltd, will develop large scale real estate projects across India beginning with ‘Krisumi City’, an 18-million sq ft development which will be developed with a cost in excess of US$2 billion. Both partners will hold 50:50 stake in this JV company.
Investing in relationship management to earn the trust & goodwill of the homebuyers is something that the Indian real estate has not adopted as an industry practice. CRM or Customer Relationship Management is something that every developer today boasts of, but this relationship hardly goes beyond attending phone calls of aggrieved buyers and online registration of grievances.
A budget bonanza is a wish that businesses across the sectors dream about and real estate is no exception. Real estate, as a matter of fact, has to its claim being the key contributor of GDP and job market, besides accelerating a number of allied industries through backward and forward linkages.
In real estate, market dynamics is so more complex that all the marketing theories and economic rationale have already gone for the toss. The conventional financial definitions are often challenged by the imbalance of demand & supply. With real estate predominantly being a micro market business, each market has its own dynamics.
One of the most critical aspects of in business is ‘Caring Factor’. Every business on the face value tells its customers and stakeholders, including the employees, that it cares. It cares about them; it cares for them. It wants to make them feel loved and appreciated.