Sumit Arora, VP Strategic planning and business development of DS Kulkarni Developers said the current year seemed to be pretty good!Here is a verbatim transcript of an exclusive interview with Sumit Arora on CNBC-TV18.
Question:We have seen a full tilt really in the markets over two years,
there seems to be confident returning into paper money
but on the ground we have had our consumer confidence index reiterate that it is at its all time low,
what are you seeing in terms of buyers,
are you seeing a more discerning buyer looking at much lower price points or
has confidence returned in a big way into residential real estate buying?
Things are definitely getting brighter by the day.
I see a lot of customers who were holding on earlier,
they are not coming back and for fresh purchase of homes.
The residential apartments have picked up,
commercial is still not doing great as it was doing earlier.
But the residential market has picked up well.
Especially, in the city where I come from that is Pune,
where we see a lot of demand happening for past few months now and
we have been booking almost say close to 50-60 units per month,
earlier the average was 10-15,
so that's a kind of pickup we have seen.
Going forward, it is going to be a volume business and
we have to work like a manufacturing sector now.
We have to keep on producing more units at a reasonable price and
for that matter we have some 22 million square feet of land bank with us,
which we plan to develop in the next 8-10 years.
This will all be in affordable segment,
say a one bedroom unit would be about Rs 9-10 lakh which is sold any given day.
We are happy to be called a regional player but we are strong in our market.
To read more, please, visit CNBC-TV18
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