The Incredible journey of South India Shelters Pvt Ltd ( S.I.S ) started in the year 2002 armed with an honorable commitment of offering uniquely themed residential projects with modern amenities harmoniously blended with tradition offered at an affordable price to buyers from all walks of life and with a dream to turn every land they touch into a unique landmark.
Till date, S.I.S has successfully handed over 1.2 million Sq.ft of residential property, another 1.7 million Sq.ft of residential property is currently under construction and chugs on nicely on a high growth path of delivering 10 million Sq.ft by the year 2020.
- How do you see the real estate market poised in India Today?
We opine that the unsold Inventory to be Liquidated first and then developers adopt a carefully thought out strategy for taking up new projects. We are positive that the market would sure start to show positive trends in another 8-9 months.
- What’s your view on the Real Estate (Regulation and Development) Bill?
There are certain ambiguities that needs to be addressed in RERA bill, but the Positive and healthy changes in the Industry is the RERA bill which would flush out the unwanted and untrustworthy elements from the Industry who have been the root cause for the fear factor that is associated with this industry.We are really happy that Government has passed this Bill to protect the consumers which would go a long way in protecting their interests and restoring faith in our Industry.
- REIT and FDI, which will dominate the market for Real Estate and Infra projects over next 2 years?
FDI, definitely which gives more Independence for the developer to operate within the framework of the agreement.
- Which segment, Real Estate commercial or infra, do you think will contribute maximum, in revenue terms, over the next 2 years?
Definitely Infrastructure which creates large number of jobs that also involves Large scale Government Investments and gives a positive spin to the Economy.
“Single window clearance for Project approvals should be initiated and strictly followed by the local state government”
- Affordable housing is commercially viable?
Certainly viable in the Long Run if the Government puts in place more measures to make it more attractive for the developers to participate by offering Tax benefits and so on.
- There is so much stress on luxurious lifestyle in real estate marketing these days, is that the only way to move ahead?
Luxury is a very relative term, though Quality to be emphasized that goes in tandem with Luxury at an affordable cost to the clients from all walks of Life.
- What is the key change you strongly feel that the Government must do in policy and permissions terms?
Single window clearance for Project approvals should be initiated and strictly followed by the local state govt. When it comes to formulating policy,Since our Government took inspiration from Dubai / Singapore Market for the RERA bill, Guess they should also take inspirations from them for formulating rules for FSI and other norms that would make it more cost effective for the developers to participate in the Nation building.
- Is the industry facing shortage of skills? Which areas? How are the Real Estate players bridging this gap?
Shortage of skilled personnel is one of the biggest challenges faced in the industry, especially in the project execution. CREDAI has been supporting all the builders by organizing training and skill development program on a regular basis.
- How do you think realty firms would benefit from government’s flagship schemes such as ‘Housing for All by 2022’ and ‘100 Smart Cities’? As Most residential developments continue to be in the premium and luxury categories. What happened to the concept of affordable housing?
It is a Very smart and effective move from the Government for introducing both the schemes which will immensely help the developers as they get to be a part of this huge development process. Affordable housing is still very much in the radar and every Real estate developer are doing their bit.
- Do you see property prices coming down? If no, why not? If yes, how and when?
Prices have neither gone up nor come down and have been stagnating for a while. The encouraging trend in the southern region, especially in Chennai has been the steady decline in the supply which would have a very positive effect on the demand and Supply in the near future.
- What kind of projects are getting funding from investors these days?
Projects, residential or commercial, developed by those Developers who are trustworthy, who have delivered and who have a good repute in the Market have had no qualms in rising the necessary funding from the investors.
- How is the outlook on Residential property in next 1 year?
Demand / Supply is getting seriously corrected and foreseeing a positive growth in the next 8 to 9 Months, but the developers also need to be more pragmatic when it comes to pricing policies and not indulge in irrational exuberance.
- In the next two years, what are the two trends that will define the future of the industry?
Affordable Housing and Ready to Occupy apartment will surely redefine the future of the Industry.
Ready to Occupy apartments will redefine the future: Mr. A. Nawaz Hussain
