Real estate market is gaining momentum because of the bold and practical steps taken by new govt - Says Mr Ajay Kumar, CMD, Ace Group
ACE Group India is one of the known real estate builders in Greater Noida West, who has always been creative, innovative and imaginative in the front of the real estate developments in Delhi NCR region. The group is very well known for its quality, style, luxury, comfort, space and innovation. Their primary business is the development of residential and commercial projects that consists of modern standards. They give consistent high performance and a strong commitment to maintain quality standards and customer service.
Builder Name: Ace Developers
Location: Greater Noida West
MakaanIQ team presents an interview with Mr Ajay Kumar, CMD, Ace Group. Lets see, what he has to say...
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 Real Estate market is gaining positive momentum in terms of focus and interest of the buyers vis a vis last few years because of the bold and practical steps taken by the new govt. so far to revive the sector. The sentiment in the entire country with regard to the investments in the real estate products is looking upward and the vacuum and the gap between the supply and the demand is narrowing down in Delhi NCR and other parts of the northern India. In a nutshell the projects under construction are speeding up and the launch of new projects has also opened albeit slowly and gradually which was otherwise had become a thing of the past.
2. How is real estate in North India different from rest of the regions in the country?
The real estate in northern India is indeed very vibrant, affordable and very competitive. Consequently the options are abundant with varied and distinctive social amenities in the housing projects because of large chunk of available land parcels in tier 1, tier 2 and tier 3 cities. Delhi being the capital of country attracts lot of investors because it encompasses and extends to adjoining states as a part of extensive Delhi NCR Area.
3. What is your opinion on Luxury or Public Housing? As a developer, which is more sustainable?
Affordable housing is certainly more sustainable as compared to luxury segment. The demand for the affordable housing in India is and will always remain because the supply toward the affordable housing segment is still short as per various surveys conducted every year.
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?
After the announcements of the creation of smart cities by the Prime Minister Mr. Narendra Modi, the entire states and the union territories which fall under this ambit shall be the center of investments for the people as the smart cities will be highly high-tech.
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?
Yes, the increase in the unsold property in NCR is not only because of the soaring prices but because of the soaring and dampened sentiments about the sector. It’s not that there is any paucity of money to invest, but the negativity and the miss information about the sector because of the many reasons and the harsh steps taken by the previous govt. However the sentiment is improving now and the real estate sector is by all means going to flourish and contribute significantly in the economic growth of the country.
6. What policies you look forward to from the Government and RBI that will be a relief to home buyers across India?
The interest rates on the home loans should be decreased further and the monetary policy should be formulated wherein the money inflow from the RBI to the rest of the banks should be abundantly made available to help the sector accomplish their commitments by way of providing the developers with the project loans etc., of course, in accordance with the other do’s and don’ts to be made applicable by the govt.
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?
The commercial property has a direct link with the availability of jobs in any sector whether small, medium and heavy industry. But it has been witnessed during the last couple of years that the commercial market has suffered a set-back in the absence of flourished real estate sector. It is expected that the country should grow further as the economic conditions within India and abroad are seeing an upward trend. The upcoming corporate bases are that all the areas fall under the meticulous master plan of the concerned civic agencies under the different state govt.’s with extensive and well planned basic infrastructure and the connectivity which is essentially required to give boost to the commercial sectors around the residential sectors.
8. What can the home buyer’s expect from Ace Group over next 1-2 years?
The buyers should definitely expect the translation of their dreams in to realty in terms of buying their desired houses as the Ace Group has vowed to provide the affordable housing in order to cater to the needs of the end users. Not only that the Ace Group is focused on delivering the quality housing also. We have already four on-going projects in Delhi NCR known as Ace Platinum in Greater Noida, Ace City in Greater Noida West, Ace Aspire in Greater Noida West and Ace Golfshire in Sector-150 Noida expressway and very soon we will be coming with ultra-luxurious project on Noida Expressway.