M3m India Has Made A Mark In Luxury Realty Segments Pankaj Bansal-mia farrow

Business Gurgaon-based realty major M3M India has made a mark in the luxury and super-luxury segments within a short span of time. ET caught up with Pankaj Bansal, director of the .pany, for his take on their focus area of operations and their projects. Edited excerpts: Real estate developers generally have a mix of product categories, but M3M India has chosen to cater to the luxury segment only. What are the reasons for this? We are .mitted towards developing state-of-the-art real estate masterpieces and have always strived to maintain the highest possible standards of quality. As a .pany, we are more concerned about the value and quality of the product we offer to our buyers. We hire the best in the world for all our construction and design activities and therefore have be.e a specialist in the luxury segment. We also foresee a great future for the luxury housing segment. First, we cater to socio economic class A++ customers who are least affected by any economic imbalance happening internally or externally. Besides, there has been a considerable rise in the number of the super rich in the past couple of years, which will go up further. By 2015-16, the number is expected to reach 2.19 lakh households with a net worth of Rs 2.35 lakh crore from 62,000 households with a net worth of Rs 45,000 crore a year back. It is also true that now the Indian consumers are more aware of the international trends and aesthetics, and are willing to spend to live their dreams. The recent devaluation of the Indian rupee has also attracted investments from NRIs. I believe these are enough reasons to concentrate on this segment. However, getting a cue of the market dynamics, we have now planned our entry into the mid and upper-mid housing segment as well. Some projects will soon be launched in these segments. M3M India has made a mark in the luxury and super-luxury realty segments within three years of .mercial operations. What has contributed to this? We started out as land aggregators for other developers such as DLF, Unitech and Emaar MGF. Then in a gradual process of forward integration in the same channel, we turned into developers. However, all through these times, what helped us grow at such a rapid pace was an extremely strong foundation that was laid by my father, Basant Bansal, and my uncle, Roop Bansal. Also, as a .pany we have always been very focused in terms of our goals and objectives, and how we plan to ac.plish them. We entered the luxury and super-luxury segment as we knew that we could create a significant mark in the market. The out.e is now visible to everyone. We are developing some of the most sought-after properties in India and have pioneered many new luxury living concepts. What projects are you currently offering in the market? We are currently developing 5 projects in the luxury segment. M3M Golf Estate and M3M Polo Suites are two ultra modern luxury residential projects whereas M3M Merlin is a luxury residential project based on Singapore-style living. We are also developing two .mercial spaces by the name of M3M Urbana, which is again a California-themed luxury retail space, and M3M Cosmopolitan, which is a Manhattan-like retail and .mercial hub in Gurgaon. All our projects are extraordinary in terms of exclusivity, uniqueness and style. Basant Bansal, Chairman M3M Group – his vision and business acumen has positioned M3M as one of North Indias fastest growing and most respected real estate brand. About the Author: 相关的主题文章: