We expect that Rate Reduction by RBI will strengthen the market sentiments: Shailesh Puranik, President, MCHI Thane

By Accommodation Times News Service

Shailesh Puranik, MD, Puranik Builders having number of successful building projects in his kitty and wining several awards for his ventures including the Best Business Practices Awards and the Best Project in Thane Award in 2006, Overall Excellence Market Trust Award, Vasturang and Residential – Amenities Galore Award   definitely makes him one of the excellent builder in the clan. A visionary and an innovator, Mr. Puranik has been instrumental in promoting a cleaner pollution free city with his Green Construction Practices, taking affordable housing projects and redevelopment of slums Puranik Builders has changed the overall view of Thane.

Q1. How many years Puranik Builders have completed in realty industries?

Ans. We have been in the industry for 44 years.

Q2. What you think, how important is builder and consumer communication?

Ans. According to me, it’s very imperative as the builder can design or construct homes depending on the needs and the demands of his buyers or consumers.

Q3. Tell us something about Puranik Builders Pvt Ltd?

Ans. Puranik Builders Pvt. Ltd. is one of the well-known and trustworthy real estate companies that provide comprehensive residential and commercial solutions across various real estate categories for more than four decades. Established in 1968, the (ISO 9001-2008, ISO 14001-2004 & OHSAS 18001-2007) certified company has successfully developed over 4 million sq ft area and around 5 million sq ft area is under development and an additional 10 million is under planning stage. Trustworthy Corporation, quality structure, innovative design and concepts, strict adherence to delivery schedules and budget estimates are the key values of Puranik Builders. With commitment to excellence and by offering projects that are not only competitive but also creative in design and better value for money, Puranik Builders aspires to become one of the leading real estate players in coming years.

Q4. What are your future plans or targets for coming year?

Ans. We are planning to launch our township project at Neral. We are also planning to launch our Lonavala project which has row villas spread across 10acres of land. The project offers luxury amenities. Also, we plan to launch Puranik Capitol which consists of 46 residential apartments.

Q5. What is really going in Thane realty market?

Ans. With the massive infrastructure development taking place in Thane, Thane has evolved into an ideal residential destination over the years. The luxurious lifestyle, the connectivity, the infrastructure and its affordability are the various factors due to which home buyers across the spectrum have chosen Thane as their favored residential destination. With the growing real estate and infrastructure development in Thane, the city always has something to offer to all the segments of the home buyer’s right from budget homes to mid-range homes to high end luxury homes to suit the needs of the varied segments. Moreover the infrastructure and real estate development has changed the look of Thane. There are number of luxurious residential projects that have come up that have changed the skyline of the city. Also, major infrastructural development such as metro and mono rail will surely push the development further upwards in the near future. All this has resulted in price appreciation of property in Thane, especially along the rapidly growing Ghodbunder road.

Q6. Does Puranik Builders have paved way for Affordable Housing which is so much in demand now?

Ans. Keeping in mind the rising demands of affordable housing from the Economically Weaker Sections (EWS) and the Lower Income Group (LIG), we at Puranik Builders are coming with an affordable yet luxury housing project in Neral near the hill station Matheran. The project is an integrated township targeted to the growing demands of affordable housing.

Q7. Many constructions are coming up in Thane promising flats in range of 30-60 lakhs, for middle class and lower middle class but that not the actual case. Comment?

Ans. The quantum of residential development in Thane is extremely large and in this development, developers are constructing houses of various sizes to meet demands of multiple buyers.

Q8. As a president of MCHI-CREDAI Thane what are your expectations post the property expo, as the market is too low and rates are drooping?

Ans. The demand for homes in a rapidly growing city like Thane is extremely is high. In such a case, even while the market may be low, we are expecting a good response post the property expo. There are good residential projects in the city and home buyers would not wait too long to buy their dream home. Our expectations have been further strengthened by the recent RBI’s policy resulting in reduction of interest rate on home loans.

Q9. One of the biggest issues that developers have is of approval because of which the supply obstructs. Are we coming out it or still struggling?

Ans. For a long time there has been demand for single window clearance scheme for developers. Such a scheme will definitely help in speeding up the approval process and will increase the supply of homes in the city.

Q10. How far has been the price fluctuated in Puranik Builders? Has it affected the demand for house?

Ans. Price fluctuation in real estate may be attributed to various factors that include the prices of raw material such as Land, Cement and Steel. We have seen sharp increase in all these three components in the recent past. Many times the rise in the prices is partially discouraging the potential home buyers from taking decisions on home buying. As far as the demand for housing is concerned, there is no negative impact so far. Thane has emerged as the fastest growing region in the Mumbai Metropolitan Region (MMR). The ongoing infrastructure development is also expected to improve connectivity of the city and may further boost the demand.

Q11. Do you think developers should take green initiative seriously? How much you have taken?

Ans. Today, sustainable development acquires importance in every field across the world, including the real estate sector. The significance of sustainable development in real estate is relatively important due to the quantum of real estate development taking place in India, especially in prime cities such as Mumbai. While sustainable structures contribute towards environment conservation, they are viable from a commercial point of view due to its long term benefits. We at Puranik’s have been instrumental in promoting cleaner, pollution free city with Green Construction Practices in order to conserve our environment. As a responsible developer, we have also included green practices in some of our projects. Our project Rumah Bali at Ghodbunder road is based on green practices. It includes rain water harvesting system, zero water runoff by using perforated concrete pavers, water efficient landscaping and sewage treatment plant that provide for water conservation. Presence of energy saving equipments such as solar heaters, LED and CFL bulbs in the project results in saving energy and reducing electricity bills. Efficient architectural planning & designing of the project provides for cross ventilation and presence of maximum natural light in the homes. Other important element such as dry-wet garbage disposal system which is present in this project contributes towards solid waste management. Adopting Eco-friendly materials and equipments also results in low maintenance cost of the project.

Q.12. The RBI’s rate cut will effect the realty industry? What is your say?

Ans. Reduction in the repo rate and cash reserve ratio by 25 basis points each by the Reserve Bank of India is on expected lines. With this reduction in rates coming after a gap of nine months, we expect that it will strengthen the market sentiments in an otherwise mixed market scenario for a long time. Real estate industry is expecting more sops, apart from the small cut in the interest rates and CRR. However, we are happy for RBI heralding a positive spree at the beginning of new calendar year. We are expecting more positive measures from the Central Bank of India for the real estate sector, which has been contributing lion’s share to the country’s GDP.

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