Real estate investment gives better returns than any other investment: Sukhraj Nahar
Sukhraj Nahar, Chairperson and founder of Nahar Group is not a new name in the real estate industry. He has been working in this industry for more than two decades. Along with construction business, he is also active in social work. His four-fold belief continues to lead the Group to new heights – superior quality across all products and service parameters, value based offering, a people-centric and customer delight approach and maintaining the trust of patron.
He talked to our AT correspondent.
AT: Could you glance at the past construction development by Nahar Group?
SN: Nahar Group was established in 1973 with a small residential project- 20,000 sq ft at Santacruz (E), Mumbai, which was completed within in a year. Till date Nahar Group has constructed approximately 10-million square feet of top-notch residential and state-of-art commercial properties with continuous construction of about 15 Lakh square feet annually, in Mumbai, Pune and other parts of the country. We have also developed construction project in Dubai.
AT: How do you look at current market scenario?
SN: Recently, the Stock Market has gone through the worst period and I believe the worst is not over yet. Along with this, the inflation rate is increasing day by day. Home is a vital need of human being. So there will always be demand for it, may be more or less. But see the demand for our projects, I do not think, there will be any major correction in prices.
The taste of customers is changing everyday. And we have to update ourselves with the changing trend. Every member of family has own expectations and needs and we have to meet it. Since the last few years, the real estate market has been emerging as a huge investment option. Real estate investment gives better returns than any other investment. So, many people including young generation are investing their money in properties.
AT: What are the USPs of a typical Nahar Group project?
SN: Nahar Group is always led by a visionary and insightful management, facilitated by people-oriented approach and driven by passion to deliver quality products and services to the customers. Each development therefore is a product of detailed planning by the best experts in the construction industry and is reputed for not only its aesthetic values but also for its stands the test of time. Before start any project, we always give priority to the location, area, environment, culture, tradition and affordability of the customers. Actually, our customers are only asked to pay 20 per cent of the total cost at the time of booking, while the rest of the amount is to be paid at the time of taking possession. We always mention the exact carpet, built-up and super-built up area in any project.
AT: Recently, the Government of Maharashtra has passed the bill to make sale of flats based on carpet area. Your comment?
SN: Carpet area, built-up area and super-built up, these terms confuse everybody. For the customers’, as I mentioned earlier, we always mention the exact size of carpet, built- up and super-built up in all projects. The Government of Maharashtra has taken a very positive step by passing this bill. But, still I am not assuring that how this policy will be implemented by the builders.
AT: No builder in Mumbai is developing 1 BHK flats, so do you think, there is no home for lower income group?
SN: See, 2 or 3 BHK flats trend has not been introduced by the builders. This is a demand of current market. The life style of people is changing. Everybody wants his/her own space. And mostly, buying a home happens once in a life. So people do not want to comprise with it. And particular in metros like Mumbai there is only demand for 2 BHK or more than that. Today, customers also expect the high amenities and facilities, which have to be provided. In our Nahar Amritshakti, a mini township, we have not only provided the international standard amenities and facilities, but also taken care of every aspect such as environment, tradition, culture, health and recreation.
AT: Do you thing a lack of infrastructure would be the barrier for real estate growth in Mumbai?
SN: I am looking at it in a very different way. Infrastructure is a vital issue in real estate development. It could be a difficult task to meet the city’s demand in limited time span but we have to carry a positive approach.
There are vast infrastructures projects going on in the city. Mumbai will soon enjoy new flyovers, roads, international airport, and other facilities.
AT: Could you us a brief information about your ongoing projects?
SM: Our Lilium-Lantana, which are almost ready. Yarrow-Yucca-Vinca, which is under construction, further add to the brilliance of Nahar’s Amrit Shakti. Lilium and Lantana are the first 2 of multiple towers coming up in midst of lakhs and lakhs of square feet of landscaped garden spaces, designed by the renowned landscaping Singapore-based firm Belt Collins. Lilium and Lantana are comprised with all international- standard amenities and facilities such as clubhouse, gymnasium, Mini shopping plazas, international standard school and many more. Yarrow-Yucca-Vinca also have same facilities.