Anytime Is The Best Time To Invest In Real Estate

 "Anytime Is The Best Time To Invest In Real Estate" Says Bijay Agarwal, MD Of Salarpuria Sattva Group

Real estate industry has been witnessing steady growth due to the various factors such as slash down in bank interest rates, employment opportunities, inherent value and infrastructural developments. In this competitive industry, Salapuria Sattva Group(awardee of the prestigious CNBC- AWAAZ- CRISIL- CREDAI Real Estate Awards for the best commercial and residential projects in India) has been entitled as one of the most trusted builders in India since 1986.

Sulekha team has come up with an exclusive interview with Bijay Agarwal, Managing Director of Salarpuria Sattva Group, an entrepreneur with a reputation for having built enduring companies with solid foundations. From graceful residences to colossal commercial spaces, IT parks, high rises and swank shopping malls, Salarpuria Sattva brand is a familiar sight in the metropolises of India and one that harkens India’s mercurial rise in the world’s urban landscape.

 Bijay Agarwal, Managing Director of Salarpuria Sattva Group

There is constant question running in each home buyer’s mind- Is this the right time to invest in Real estate? Why? or Why not?

Till a few months back the real estate markets across the country had seen some uncertainty. But with the determination and vision of the government now unfolding – markets have begun to buzz. Most builders have started launching properties again. We have just launched 1000 units in Bangalore in October. We are launching another 1100 in November and yet another 1000 in December. Before March end 2015 we plan to have reached a substantial number. Because demand is growing at a fast pace, the prices are getting steeper.

Bangalore has always been a consumer’s market. Being the IT, education and health hub of India, this is also where jobs bring people from all over India. There is also the NRI’s, and transit business and executives who find the cosmopolitan nature of the city and its salubrious climate, the best in the country. All these people are also investing in Bangalore. There is a real need for homes in Bangalore and as a renowned builder of Bangalore we have begun to build at a faster pace to meet this need.

Property prices take up a roller coaster ride (rise and fall) in India. According to you, what are the factors contributing to this?

Property prices have been consistent in cities like Bangalore where there has been a steady growth of 20% YoY. This is because Bangalore has never had unrealistic prices and the demand for housing here is based on real needs. However, the other cities where prices have risen very steeply have seen some correction and that is why it seems to be a roller coaster ride. Fact remains—that housing is a requirement in every city. Every Indian aspires to own a home. The demand will remain perennial.  When the sentiment is positive the demand increases and that is when the prices go up. So it is best to invest in real estate when there is a lull.

Social media is an effective tool of communication in Real Estate. How do you view this?

Social media is an excellent tool to engage your customers and build the brand. Though we don’t see any direct sales there are several indirect benefits that we have by engaging our customer base. Importantly, it helps build and grow networks. It is, very important to engage customers and treat them as intelligent beings. Most people on social media get turned off by advertisements. Announcements and engaging activities help build the brand and keep it in memory.

There is a sudden change in buying trends among Property Investors. First-time home buyers prefer ready-to-move in apartments. What is your opinion about it?

This may not be true all the time. Ideally a young couple buying for the first time would like to move into their new home right away so that they don’t have to pay additional rent while paying their EMI.  In addition to this – they may not be very sure as to when they will get their home due to delays from the builder’s side.  But those who are confident about the brand that they have invested in sometimes put up whatever money they have and are happier to pay up slowly and get the benefit of early pricing. After appreciation within 3 years some of our properties have actually tripled. So it really depends on who the builder is your ability to pay and financial planning too.

What is your opinion about Festive offers and the discounts offers by the Realtors?

If realtors do offer festive discounts -It is a goodwill gesture from the builder because it gives a short relief to those who intend to buy and help them take decisions.

Which of these is a wise decision for property investment: Investing in a plot or investing in an apartment? Why?

Buying a plot comes with innumerable hassles. The reliability of the sellers is most often in doubt. But properties developed by well- known brand names are worth a try. However, it may take a very long time before the place becomes livable with basic amenities. Perhaps good idea for long term but by then, if the intention is to build a home- the cost implications are heavy.

The benefit of investing in an apartment is a no-brainer.

Delivering Green housing to the public is still a challenge for city builders. What do you think are the reasons behind it?

Green housing is the way to go in the future. It means solar energy, energy efficient structures and materials, tapping natural light and following the international guidelines in building processes. GRIHA the national agency that certifies green housing has laid the guidelines for the basic requirement to define ‘green’. However, right now the sheer non availability of environment friendly material, the mad rush for housing- few consumers are aware or willing to wait or pay the extra that goes into developing it. Very few builders have gone that route. We have started GRIHA certification for our projects.

Where do you see the future of the Real Estate Market in India? Explain in brief

We are looking at housing for a billion plus people! Can you imagine the future?

Source: Sulekha

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