NEW DELHI: M3Ms Pankaj Bansal says, "no doubt, real-estate developers with sufficient land-parcels and holistic business-model will carry an edge for buyers. Uniquely, M3M India has a bank of over 2, 200 acres of land-parcels that has given the company a well-defined advantage and will always remain".
"We operate on integrated business-model or we call it as end-to-end built-in business model, which means, from owning land to monetising, licensing, launching, marketing, delivery and after-sales; the complete value chain is managed directly by M3M India, " he said, adding that "managing these factors directly also saves time, costs, and projects are better integrated in terms of facilities and monitoring".
Bansal is Director M3M India, a leading real-estate developer in Gurugram, that has delivered about 40 projects consisting over 2 crore square feet of space including about 40 lakh square feet of retail space.
The company is a leader in delivering retail space in northern India and its M3M Trump Towers and M3M Golfestate are milestones and landmarks in Gurugram.
The realty market is all set to boom in coming years with startups looking to lease out about 30 million sq. ft. of space during 2022-24, and majority of it is going to be commercial. The demand in residential accommodation is also all set to increase by 8-10 per cent.
FDIs in real estate have also jumped three times during 2017-2021, growing to about 82 per cent. The young Indian population is also on the move, with 66 per cent young Indians below the age of 35 years, emerging as young millennials borrowers of home loans. The cumulative active home loan base of these borrowers has continuously grown over the last 3 years at a CAGR of 3.5 per cent.
As Delhi-NCR has replaced Bengaluru as the startup capital of India, there seems to be constant push for residential and commercial space in Gurugram and on much hyped Dwarka Expressway.
Gurugram also has third highest per-capita income in India and has contributed significantly to the Indian entrepreneurial ecosystem. The Covid pandemic did slow down the business for few months but the market has picked up significantly in the year 2022, and is expected to remain so in coming years.
Bansal says: "There is no doubt that the businesses across the world had slowed down since outbreak of Covid pandemic. But the year 2022 has started with renewed hope with significant rise in demand. Though the prices of raw material is constantly seeing an upward trend, the demand is also increasing for both residential and commercial properties. The only other way to somehow stabilize this fluctuation and manage costs is through timely delivery of the projects. Delay in delivery generally escalates the cost as besides raw material costs, the service costs also increases. Since M3M India's strength lies in timely delivery of the projects, we are better placed in managing such price fluctuations."
Keeping up to its reputation of timely delivery of all residential and commercial projects, the company had launched 27 projects prior 2018 and 25 projects have already been delivered.
The construction in two projects, the iconic Trump Towers and M3M Heights, is in full swing and these projects are expected to be delivered soon.
To its credit, the five new projects launched my M3M India post 2018, including M3M Marina, M3M Prive and M3M Natura have already been delivered successfully to the customers. The construction is in full swing in five newly-launched projects including M3M Soulitude, M3M Capital and M3M Atrium57. M3M Capital project is part of 3.0 vision of M3M India. It is a new high-end luxury golf styled residential project in sector 113 Gurugram, right on the Dwarka Expressway. Initially five residential towers of M3M Capital, being built in about 16 acres with 644 apartments, were opened for booking which had 294 apartments of 2.5 bedrooms and 350 apartments of 3.5 bedrooms. The project has close proximity to Aerocity and Delhi International Airport, and is a part of larger vision for Smart City Delhi Airport.
Timely possession, corporate governance, transparency, sustainability and cost competitiveness will play a decisive game in realty in coming years, and it seems developers with end-to-end built-in business model and bank of land-parcels will have definite advantage.