Delving into the basics of Indian Real Estate and for a better understanding of its working, the readers must have a tete-a-tete with the experts. Who better than the founder of a leading real estate company, ANAROCK Property, Mr Anuj Puri.
A three decade experienced major player of real estate, Anuj Puri recently commenced his own venture after separating himself with JLL after twenty years. As Team RealtyMyths got an opportunity to interact with him, he reveals the cutting edge strategy behind the success of ANAROCK Property and sheds light on his views regarding the real estate scenario.
Firstly dealing with the question regarding his association with the JLL for more than 20 years. He himself had been witnessing the JLL growth inch by inch throughout the years and parting the ways later, to create his own brand, ANAROCK Property must have been difficult for him. Also working for his objective to achieve through ANAROCK Property.
He explains the transition as a simple step as they had planned the launch of ANAROCK quite a while ago and were putting in the footwork long before the launch. In order to provide an ethical real estate consultancy services and 100% transparent environment where every client, from developer to investor and finally the end-user is completely connected into the process.
He reveals the ANAROCK Group’s key strategic business units as its residential business, which provides advisory and broking services to the clients, equity and mezzanine funding, the investment business which handles debt, and the research and consulting business. He presses on the ANAROCK’s business team that was picked with great care. Because these were the industry’s finest residential real estate professionals, who has the grasp over the ever-changing consumer needs and market trends.
He is satisfied with the expertise and experience gained through serving some of the most reputed developers, portfolio investors, corporate houses, and individual investors. Which has made them the unchallenged residential real estate market leader in India. A revolutionary business model has been built-up by the ANAROCK’s Investment arm, which focusses on the bulk-purchasing residential apartment inventory through a proprietary investment fund.
According to the recent data, the Indian real estate market has been reeling under stress. As it has not recorded remarkable growth in last 4-5 years. Then the question arises about Anuj Puri starting something new such as ANAROCK Property and assuming a good business amidst such times.
In his views, ANAROCK Property Consultants has been bridging a massive gap between consumers and providers of real estate in India. According to him, it is this gap that has been the reason for the slowdown. The lack of customer confidence has surpassed the lack of demand and slowed down the market.
But ANAROCK Property Consultants have been providing complete transparency and knowledge about every option and picking the projects with care. He and his team makes sure that their customers get the best possible deal with all the information requiring to be investing in confidentiality. Anuj Puri beams with confidence and claims that his firm could not have been launched at a more opportune time, because customers have become extremely circumspect and need this kind of confidence.
On the question of the general elections that India is going to face next year and hence the year 2018 holds vital importance for a sector like real estate which is primarily sentiment driven. Anuj Puri speaks about the probability of the big announcements coming from the government.
He said that the Government has already taken several important steps for the real estate sector. And now it is unlikely that there will any new announcements this year other than those related to its ‘Housing for All’ program and possibly the formal launch of REITs, with the first listings.
According to him the Modi Government has proved that it is not here to take populist measures for the sector but to make the Indian real estate market a more transparent, healthy and wholesome. He takes a positive stand on the RERA, Demonetization, GST and the Benami properties act and calls them decisive steps in the forward direction.
On the question of Indian real estate market not able to achieve its past glory post the Great Slowdown of 2008, barring the 2012-2014 period. He reveals the reason behind the stagnation and the chances about the recovery post the general elections.
Mr. Puri talks about the general perception of the election that they play a big role in real estate consumer sentiment. But he takes a different direction and points out towards the fact that today consumer sentiment is dictated by the state of the market. He says that the election results are now bearing more on the stock market, but real estate investment is now all about the quality of the product and it’s pricing. He claims that the primarily end-users are driving the Indian real estate market now.
He says that the irrespective of the Government in power post the next year’s general elections, the country’s real estate market will have become a more transparent and credible arena by then as a result of the incumbent Government’s efforts.
At the question of the failure of the Smart City initiative taken by the government, mostly due to lack of proper planning and adequate fund allocation. He believes that the Smart Cities mission have been able to provide a little remarkable progress on the ground. A little positive belief came from his side on the Smart Cities mission’s inherent potential, of reviving the real estate market in the designated regions, but only on the basis of tangible progress. At the last he advices for a wait-and-watch mode. As in the meanwhile, the real estate market has to deals with its challenges in front of it, in order to gain alignment with the new ground realities.
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