We are redefining realty development10 December 2011
Mr. Ashok Chhajer
Chairman and Managing Director, Arihant Superstructures Ltd.
Ashok Chhajer, CMD, Arihant Superstructures Ltd, shares his strategy for identifying new project locations and guidelines for flat buyers.
We are into the real estate business since 1994 and we have always have taken bold steps to enter into virgin markets. We brgan by developing residential projects in different parts of Navi Mumbai and planned them according to each location. Over the years, we put systems into place and gradually ramped up our volumes.
The milestones for our company was in year 2008. During the global recession while the most businesses were consolidating and avoiding new commitments, Arihant rose higher and height; taking the initiative to grow, establish and provide the real estate products that suit the consumer.
In 2009, we developed our project in Badlapur. At that time, Badlapur is not a preferred residential hub in spite of having the best connectivity in terms of public transport. Today, many other renowned developers have also entered into that area.
We always do our homework before launching any projects. We try to survey the area, understand the segment of people who are left out and unable to buy their dream home. So, rather than get into the economics of studying the land cost, construction cost, location, labour cost and so on; we try to figure out their needs and wants and provide homes accordingly.
We recently launched a project at Jodhpur. It was first step for us and since it is our hometown, we are well familiar of its tradition, culture and lifestyle of the people. The main objective was also to avoid the risk of relying on just one particular market of Mumbai.
Arihant has bagged the first Public Private Partnership (PPP) projects award given by the government of Rajasthan. We have done EWS and LIG housing and plan to do the same on Maharashtra also. Today we are being recognized as single largest developer of Jodhpur. Also, we are redefining the real estate development in terms of our product to the consumer.
Arihant is well organized and precise in its systems and responsibilities. There are jobs being assigned and targets allotted to everyone. We also have different audit systems and our in-house audit system is always working round the clock. Today, we have confidence about entering new markets after our achivement in Jodhpur.
While planning our projects, we try to understand the needs of those who would be residing there and provide facilities accordingly. We try to add something more to what is being delivered and that's what makes us different from others. We try to give life to a non-living thing by thinking in what way it will meet the aspiration of people in their lifestyle. I don't weave my lifestyle into my product. I believe in focusing on the on the consumer's lifestyle and providing them the same that they are looking for.
While buying a house, people should look at the location, legalities, reliability of the developer, the type of project, the company's track record and so on. I think checking track record of the builder is really important because it is a very crucial aspect of taking the decision.
When it comes to ideal residential locations in the present scenario, I think the whole region from Thane, Kalyan, Dombivili, Panvel, some parts of Karjat and Navi Mumbai has become the core center point. If you take the radius and explore these areas, there are lots of opportunities. You have the airport coming up, plus construction in Panvel is travelling more towards the Alibaug direction. Navi Mumbai has become a center of attraction today; lots of educational institutions have come up, it is a commercial hub with shopping convenience, transport facilities, malls, multiplexes and much more. Today, lots of people are coming to Navi Mumbai for jobs and also wish to have their house close by so the demand for homes in this area is definitely rising day by day.