Many of the project launches in the residential segment in Chennai have been in sub – 30 lakh segments, according to Sandeep Mehta, Managing Director of Jain Housing and Constructions Ltd. He was also at the helm of affairs as President of Credai Chennai earlier. A Standard Operating Procedure is in the offing by Credai-Chennai in a bid to ensure quality standards among the members, as he said to Sandeep Pattnaik of Gharabari.com in an exclusive interview. Excerpts.
- Fair Pro is considered to be the biggest property show of South India. What is the rationale behind conducting such an event, at the beginning of every calendar year?
- Everybody starts planning their tax from January and this is the right time to invest in property. With the budgets coming in February there is always the fear of home loan rates increasing which also makes January the right time to invest. Keeping these in mind we always make it a point to hold Fairpro during the month of January. Also we would like our customers to start their new year with an auspicious new purchase.
- You were the President of Credai Chennai in the past. Can you highlight certain issues confronting the realty sector, which need to be addressed forthwith? Besides, if any specific steps taken into hand by the apex body for the safety aspect of buildings, keeping in view the frequent collapse of structures hogging the headlines?
- The economic slowdown had affected the reality sector in the State too. CREDAI Chennai has represented to the Government of Tamilnadu to come out with a slew of special measures to revive the sector. Similarly, single window clearance system should be introduced to avoid unnecessary delay in getting clearances from various offices. It would save time and energy for the promoters to concentrate on other aspects of projects. Safety has been a serious issue of discussion in the recent times. CREDAI Chennai is coming out with a handbook on Standard Operating Procedures (SOP) for Real Estate Projects to standardise the quality standards across all members.The SOP would be developed by a Task Force which would comprise representatives from IIT Madras, Anna University, Chennai, Indian Institute of Science, Bangalore, and senior members of CREDAI.
- Builders in Chennai are seriously scouting for small parcels of land to promote budget housing units in the sub – 20 lakh segment. How Jain Housing & Constructions is moving ahead with the ‘Affordable housing’ in sync with the Union Government’s mission 2022. Any projects in the offing for gated communities there?
- Jain Housing has always been committed to providing affordable housing. Many of our recent launches have been in sub – 30 lakh segments.We also have a good selection of projects that come under the ‘Gated Community’ category. Projects like Alpine Meadows at Pallavaram, Pebble Brook at Thoraipakkam are all gated community developments which offer all amenities and facilities that the home owners need.
- The latest trend in home sales through E-commerce platform is doing the rounds. How is Chennai market equipped with that?
- India is the third largest internet population after China and United States. Ecommerce has grown rapidly over the past two years because of the increased usage of Smartphones. But buying a property through a smartphone is still a long call for an average Indian. Online portals are very good for resale of homes and rentals, but online home purchase is still at a nascent stage. We have great expectations from the online-housing market. Chennai is a traditional market hence the turnover is only expected to grow with time and we have hopes of doubling our turnover over the next two years.