Few months more for the Real estate market to show positive results: Says Mr Rajesh Goyal, MD, RG Group
RG Group is more than a decade old group, successfully executed and delivered 14 commercial and retail projects in Delhi NCR prime locations. RG Group has also launched two residential complexes, RG Residency in Noida and RG Luxury Homes in Greater Noida West. The group is rapidly evolving into a conglomerate that is known for quality, reliability and value-for-money real estate solutions.
Makaan IQ team got an opportunity to have a long conversation with Mr Rajesh Goyal, MD, RG Group, who told us about their three Cs: Customer Satisfaction, Construction Quality and Customer transparency.
1. What is your medium term (9-12 months) outlook for the real estate market in India in general and North India in particular?
The change on the political front has brought about changes in all spheres, the market being no exception is also reacting to these changes and it will take another 6 months or so for the market to show positive results.
2. How is real estate in North India different from rest of the regions in the country?
The basic operations are same across the nation.
3. What is your opinion on Luxury or Public Housing? As a developer, which is more sustainable?
Both Luxury and Public Housing have great potential which need to be tapped in Indian market. In Luxury there is a lot of potential so as to bring new technologies and amenities. In Public Housing a lot has already been offered and it’s growing with each passing day.
4. Having so many projects completed in Delhi NCR, which of the other cities do you think home buyers should opt for a property purely from Investment purpose?
5. The number of unsold inventory is increasing in NCR, what could be the reason behind this? Just the soaring property prices or any other factor attributing to it?
This is because wherever any project is launched short-term investors/ speculators buy a lot of inventory. However, they decide to re-sell it at exorbitant profits that make it unattainable for the common man.
6. What policies you look forward to from the Government and RBI that will be a relief to home buyers across India?
We feel that the rate of interest on home loans should be reduced to benefit a home buyer.
7. What is the current trend in the Commercial Real Estate Market? How are developers meeting the increasing demand of the corporate sector? Which are the upcoming corporate bases?
In the past two years the Commercial Real Estate Market is improving. There are commercial complexes which are vacant since 2009 and are now ready for move ins. Upcoming corporate bases: Netaji Subhash Palace & Noida/ Greater Noida.
8. What can home buyers expect from RG Group over next 1-2 years?
RG Group is growing day in and out. We have a lot of new projects coming up in the near future, both in commercial and residency. It has bought 10 lac sq. ft. Land for Luxury Projects, 8 lac sq. ft. for Residency and we are coming up with a few new projects in Noida Extension.