NEW DELHI: DLF Limited (Delhi Land & Finance) is the largest commercial real estate developer in India. It has nearly 70 years of track record of sustained growth, customer satisfaction, and innovation. The company has 269 msf of development potential with 27 msf of projects under construction.
In an e-mailed interview, Dr. Ananta Singh Raghuvanshi – Executive Director sales and marketing of DLF home developers Ltd, talks about the impact of demonetization and other issues connected with real estate. The following are edited excerpts:
Demonetization:
It is a step in the right direction facilitating greater transparency in monetary transactions. It has attached a greater number of masses with banking system and hence, will indirectly promote loans and other financial instruments for prospective home buyers.
A greater engagement of digital payment systems by customers as well as developers is welcome. Owing to quicker receipt of payments, existing processes would be speeded up, hence adding to saving of time. Time lost in anomalies such as cheque bounce etc. would be curtailed.
After initial speculation, property prices are likely to remain stable. The actual value of property hasn’t really undergone a change. The prospective buyers may have become little cautious, however aspiration for a new home for ever expanding families will only drive the markets northwards.
With banks in India having greater liquidity than ever, it is expected that home loans for aspiring buyers as well as funding for projects for developers would be made available with greater ease. This will prove beneficial for the entire market.
Scope for NRI investments
An important factor the NRIs should keep in mind prior to investing is the credibility and commitment of the developer. Indian developers have been delivering projects at par with the best in the world. It is a safe investment given the fact that the government as well as the developer community are working together to make this industry a success. India has witnessed unprecedented levels of startups coming to the forefront. The commercial market scenario is likely to ride on this startup wave and hence a worthwhile investment driven by rental income. Our projects are approved by various nationalized banks as well as financial houses and each of them provides specialized services to NRIs at their individual level. NRI customers are engaged by our sales as well as customer service team proactively, which includes direct interaction during our participation in International events.
USP of DLF projects
One of our project Capital Greens, in Delhi is close to 100 acres of green area. In the same line, DLF Kings Court is a luxury condominium in the vicinity of Jahanpanah forest giving the residents access to nature and cleaner air. Both the projects have set benchmarks in giving buyers advantages in terms of location and good environment to live in at the same time.
Dr. Ananta Singh Raghuvanshi – Executive Director sales and marketing of DLF home developers Ltd,
- What are the Major impacts of demonetization on Real estate ?
Demonetization is a step in the right direction facilitating greater transparency in monetary transactions. It has attached a greater number of masses with banking system and hence, will indirectly promote loans and other financial instruments for prospective home buyers.
- What kind of process filtration you expect due to demonetization in the current scenario?
A greater engagement of digital payment systems by customers as well as developers is one outcome. Owing to quicker receipt of payments, existing processes would be speeded up, hence adding to saving of time. Time lost in anomalies such as cheque bounce etc. would be curtailed.
- Will property prices go down after demonetization in India? If yes, how?
After initial speculation, property prices are likely to remain stable. The actual value of property hasn’t really undergone a change. The prospect buyers may have become little cautious, however aspiration for a new home for ever expanding families will only drive the markets northwards.
- Demonetization Brings Happy Days for Residential Property Buyers?
With banks in India having greater liquidity than ever, it is expected that home loans for aspiring buyers as well as funding for projects for developers would be made available with greater ease. This will prove beneficial for the entire market.
- What should any NRI keep into consideration while Investing Back Home ?
The credibility and commitment of the developer is an important factor to bear in mind prior to investing.
- Do Indian Developers delivering Realty at par with the quality available oversees?
Indian developers have been delivering projects at par with the best in the world. The residential projects in the metropolitan cities of India is an example of the same. As a matter of fact, some of the world’s largest developers are already present in the Indian real estate arena.
- How Safe is Real Estate Investment in India Today after such a big jolt to the Industry?
Real estate investment in India is a safe investment given the fact that the government as well as the developer community are working together to make this industry a success. Only thing to be bear in mind is, to invest at a good location after analyzing available options and with the right developer with a good reputation.
- India’s Real Estate Market: Time for the bubble to burst! What are your views on this statement?
The demand for housing is there to stay. In spite of the fact that the real estate market is cyclic in nature, the prospective home buyer sentiment is cautious but full of hope at the same time.
- Scope for NRIs to Invest in Commercial Properties in India, what kind of Returns they may expect after Market Corrections?
India has witnessed unprecedented levels of startups coming into the forefront. The commercial market scenario is likely to ride on this startup wave and hence a worthwhile investment driven by rental income.
- What are the Initiatives Government is taking to boost Foreign Investment in Indian Realty Market? What are your suggestion?
Making ‘affordable housing’ a part of infrastructure sector is a step in the right direction. Streamlining the implementation of Real Estate Regulation Act could also boost the market sentiment.
- What is the current trend in Real estate in your region?
There is a demand for ready to move in residential property. Rental activity has also seen a boost. Commercial property has seen demand from end users.
- What are the major USP’s of your project? Why do you feel that it could be the trend setter in your region?
One of our project Capital Greens, in Delhi is close to 100 acres of green area. In the same line, DLF Kings Court is a luxury condominium in the vicinity of Jahanpanah forest giving the residents access to nature and cleaner air. Both the projects have set benchmarks in giving buyers advantages in terms of location and good environment to live in at the same time.
- What kind of special support you are getting from the Indian Banks facilitating the home loan for NRI’s?
We have most of our projects approved by various nationalized banks as well as financial houses. Each of them provides specialized services to NRIs at their individual level.
- Do you offer some special schemes and incentives targeting NRI’s?
The schemes vary from project to project. NRIs customers are engaged by our sales as well as customer service team proactively, which includes direct interaction during our participation in International events.
- What is your opinion on the future of Real Estate in India?
Real estate in India is amongst the most significant section of infrastructure industry and holds great promises for the home buyers. All in all, this sector will continue to drive the Indian economy.
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