Page 22 - Arvind 2024

Highgrove Clubhouse, Ahmedabad
5,000- 5,500
Rs. Cr. of Business Development planned in the coming year
India’s real estate sector, having to share space with unorganised players who often worked outside the confines of law.
The result is that a new phase has begun for the country’s organised real estate sector. There is an increased propensity for buyers to own homes being offered by branded players; there is a greater assurance of the home being treated as a responsible asset class; there is a greater assurance that their rights as buyers will be protected; there is a greater focus on real estate companies being bound by specific deliverables protecting the interests of consumers.
Even post-RERA, some organised players have grown faster than the others. Companies that deepened their brand relevance, maintained their fiscal prudence and focused on customer interest grew
faster in revenues and surpluses and created a foundation for sustainable growth.
What provides optimism about the organised real estate companies consistently outperforming the unorganised is the vast sectorial
room waiting to be converted. Around 80% of India’s real
estate sector continues to be unorganised, which is still a long way from developed economies where the unorganised sector is closer to 20-30%. As more urban home buyers seek to buy into our trusted brand, we see the share of the organised sector in India’s real estate sector growing faster.
This fundamental ground reality of the sector is being catalysed by the health of the national economy. When people buy
into homes – the single largest investment for most – they do
so more frequently when there is an overall optimism in the long- term trajectory of the country’s economy. This assurance is inspired by stable government policies, controlled commodity inflation and stable interest rates that promise a healthy multi-year surplus in their hands that can be channelised into longterm asset creation.
This macro-economic stability and related consumer optimism translated into a larger number of homes being acquired across the country. It is not just the larger
20 | Arvind SmartSpaces Limited