By Nikita Parekh
Mr. Diipesh Bhagtani is the Executive Director of Jaycee Homes. His passion for real estate got him involved in the business while still pursuing his education in Civil Engineering at the age 18. He has a hands-on experience of more than 13 years and an impressive resume to boast. His area of operations encompasses Business Development, Land Acquisition and Public Relations. Experience brings in knowledge and expertise. He is the key person for the success of Jaycee Homes, his business acumen has brought the company at this level. In the following interview he has discussed about the need for housing, issues related to the real estate market and the company’s future projects.
Q1. What is your take on BJP led government’s mission ‘Housing for all by 2022’?
I think the BJP led government is doing a great job and “Mission 2022” is in the right direction. We will be able to achieve this milestone with the combination of effective policies and amendments which will in return benefit the consumers. Housing today is a must and government making it an agenda is pleasant to hear. To achieve this mission, the government needs to work with the developers in too
Q2. Do you think government will introduce ‘Single window clearance’ for realty projects, to bring faster approval and transparency in the process? And will the sector get industry status?
Yes, we definitely feel the government will implement ‘Single Window Clearance’ within a year’s time. The Fadnavis government is working hard on ‘ease of doing business’ which will make it easier to get approvals. Mumbai’s rank in setting up of new business has not gone well with the government and they want to change that impression. They are working very hard on bringing in more transparency also CREDAI has been working hard to achieve Infrastructure status for our Industry. There is going to be a great change in the near future & we as a fraternity of CREDAI are quite upbeat to be a part of it.
Q3. Would you like to venture into commercial developments or your only target is residential developments?
Yes, we would definitely get into commercial developments in future. Jaycee Homes is always ready for new ventures in real estate which will help our buyers and consumers. Since our main focus has developing properties in Mumbai, we have seen sales in commercials falling over the years which prompted us to concentrate on residential. Looking at the future opportunities we shall decide on the scale of commercial projects to be undertaken and we are open to do it.
Q4. Jaycee is more focused about developing luxury homes, are you planning to enter into affordable housing market?
Jaycee Homes forte is to provide homes with Jaycee Lifestyle. We have already introduced our projects in the market with 1& 2 bhk. Costs of homes in Mumbai have gone high and affordable has gone to a crore. So with todays need and latest trends we are launching value homes, keeping in mind the kind of lifestyle and amenities we provide. Even though the sizes of our apartments are getting smaller with the market requirements, our quality and amenities have only increased.
Q5. According to you who are the actual suppliers of affordable housing, government authorities or private developers?
I feel the private developers do try their best in supplying affordable housing but are not able to. The rising debt cost, premiums and other hidden cost is hampering the supply of affordable housing. The government is still providing housing by some or the other schemes but they are still not enough. The latest announcement of ‘Homes for All’ and the 100 smart cities initiative might just solve the problem for housing in the coming years. The private developers and government working together can solve this issue within the time frame of 2022.
Q6. What trends do you see in the future realty market?
In next few years, India is likely to witness an infrastructure boom, providing real estate with an advantageous edge as an investment vehicle with the new amendments coming up from the developer perspective, for instance the single window clearance will be a much needed change in the industry. This will only benefit the developers in our country. In India, real estate plays an important role, from affordable housing to infrastructure and generating employment. The sector is expected to grow 30 percent over the decade and will also see rise in demand in office and residential space in urban and semi urban cities. The city is also looking at smaller property and taking precedence over larger units across the metros. The future of real estate industry is “Smart Cities”.
Q7. Tell us something about your upcoming projects and your future plans.
We are upcoming with 4 major projects across the suburbs. These are in Dahisar, Powai, Kanjurmarg& Mira Road. We will also be launching few standalone projects in Khar, Bandra&Juhu. As of now these are the projects we are looking to develop and are not looking at any more acquisitions till June 2016. We shall be focusing on delivery of the ongoing projects and launching of the new ones & shall acquire more in the second half of 2016. Our future plans are also to venture into the other cities; we have land parcels in Pune & Indore and shall be venturing in it in 2017.