Noteban effect on real estate no more

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Noteban effect on real estate no more

Monday, 10 December 2018 | PNS

The instability in the market that occurred due to demonetisation is not affecting homebuyers anymore, now real estate sector is on the upswing, says Prasoon Chauhan, CEO, HomeKraft in his interaction with The Pioneer. Here are excerpts of his conversation with Vikas Kumar.

Tell us about the HomeKraft and its functions?

HomeKraft is promoted by ATS Group and Geetambar Anand. This company has two shareholders, one is ATS, which holds 80 % shares, and another is HDFC Capital, which holds 20 % shares. This is the joint venture of these two companies and now we are coming up with five more projects in the next one-year. Our focus is on mid-income group, which starts from Rs 40-70 Lakh and all our projects are qualified for PMAY (Pradhan Mantri Awaas Yojna). So customers are taking all benefits under PMAY, which includes GST, carpet Area and others.

What steps you are taking to avoid pollution at your sites?

 We are following all guidelines under NGT in terms of dust, pollution and all. We are complying fully with them for our projects.

 So who are your biggest customers?

Our biggest customers are middle class and lower middle class people whose income starts from Rs 50K to Rs 1 lakh.

Effects of demonetisation in real estate sector?

I think its been two years so there is no effect as such now. And customers who are buying flats, which starts from Rs 40 Lakh, I dont think so they are affected by demonetisation.

 What are the new technologies your company is taking during construction to meet the good quality?

We are doing our construction from Mivan Technology for shuttering and other construction related activities, we are importing this technology.  There are two-three benefits of this technology. One is cost efficiency because initially infrastructure takes huge cost, but, later-on with repetition, costs are drastically minimised. Secondly, it saves a lot of time. In addition, you dont need to do plaster the walls from outside.

 Whats the Market scenario?

Market scenario is good; we are getting good response from the customers. Our Monthly sales are at 70-75 flats.

Your ongoing projects?

We only have one ongoing project — Happy Trails — located near to Sector-10, Greater Noida West. And we are about to launch another projects next year.

How Metro extension will help you?  What are your projections in terms of Marketing?

Recently, Greater Noida Authority passed this proposal.  Since our project is located near the Metro Station, it is pretty easy to commute.  Yes, it will help us a lot in terms of our selling and connectivity.