Maitreya Realtors & Constructions Pvt Ltd is the real estate arm of the Maitreya Group of Companies. In the year 1998 with a set goal and mission in mind, we entered into this sector and engaged in the business of commercial, residential and retail projects.

Jul 1 2015 | Q&A

Maitreya Realtors

We certainly welcome the concept of smart cities by the government and the conversion of the concept will definitely be a case study in the real estate sector. Though there is a long road to go as there has been no scheme launched to execute in various parts of India. So there is no question of any expenditure on that account. Hiring of stakeholders is in pipeline and they are the one who will support on the concept. We will definitely keep a close look on this initiation and how the concept takes shape in the times to come. It´s too early to comment anything, seeing the progress we definitely look forward to contribute and make mileage out of it.

Mrs. Varsha Satpalkar, CMD, Maitreya Realtors & Constructions Pvt Ltd shares her views with Sandeep Sharma about Maitreya Realtors, objectives, core competencies, foot print in the real estate sector, emerging realty trends, signature projects, smart cities development, shortage of manpower, top realty segment and what needs to be done by the Government to boost real estate sector growth. Edited Excerpts...

Tell us about your company, objectives and core competencies?
Maitreya Realtors & Constructions Pvt Ltd is the real estate arm of the Maitreya Group of Companies. In the year 1998 with a set goal and mission in mind, we entered into this sector and engaged in the business of commercial, residential and retail projects.

The company focuses on construction and development of real estate properties across the states of Maharashtra and Gujarat. We aim at being recognized for our quality and sustainable projects, transparent deals, timely delivery and services for all income groups.

As a developer we have achieved kudos in delivering several sophisticated myriad housing projects in various cities of Maharashtra such as Pune, Aurangabad, Vasai, Dhule, Jalgaon and Sangli. We have a strong hand in managing large scale multi-faceted projects from preconstruction stage to the completion stage.

Our portfolio also includes several commercial projects in Mumbai, Sangli and Kolhapur and our next destination is Shirdi. The core competencies lie in the perfect combination of our pooled knowledge and technical capacities and as the name suggests the team is flexible and adaptive to customer needs by offering a full portfolio of good services.

Could you brief us about your company´s footprint in the real estate sector?
Maitreya Group of Companies has a valuable name to reckon in the realty sector with several feathers in its cap through affordable housing projects in cities like Mumbai, Pune, Aurangabad, Vasai, Baroda, Dhule, Sangli and Jalgaon in addition to other commercial projects in Sangli. Maitreya Group of Companies is continuously striving with great new projects as in Nashik; it has launched a second-home concept - Pandav Van, which is a twin bungalow. Maitreya Group has also sufficed middle income residential project with its ´Maitreya Sankul´. Maitreya Greens, which is the first ever project in Nashik that is IGBC Gold pre-certified.

Could you provide us insight about the emerging trends in the Indian real estate sector?
With 2014 seeing some positivity for the real estate sector and with strong growth in business activities and foreign investments over the years, the real estate and construction sector has also assumed tremendous significance in the economy owing to an ever-growing demand for commercial and residential space in the country. The government initiative like Make in India campaign has brought a lot of positivity to this sector. Also the residential plots will rule the sector as it is gaining amid importance. The cities to be considered in the first phase of development will be the next big thing. With the announcement of ´Housing for All 2022´ affordable housing is the talk of the country. Also a recent survey says that most of the people prefer regular amenities to ultra luxurious ones. Also a new trend observed is that smaller size properties are winning over larger units in the metro cities.

Its critical role in fostering overall growth of the economy is a result of the strong inter-linkages it has with approximately 250 ancillary industries, with the sector expected to contribute about 6.8% to the country´s GDP in 2013, which might increase to as high as 12-13% by 2025.

Could you share with us your experience about any of your signature projects?
We at Maitreya constantly promote the thought and benefits of eco-friendly living and ways to adapt a greener living. There has been a huge demand and scope of Green projects in India. Considering this we had launched Maitreya Greens, one of our significant projects.

It is the first ever IGBC Gold pre-certified green project in Nashik. Spread across 10 acres of lush green land, of which only 40% would be developed into 6 residential towers. Comprising of ground plus 14 floors, these towers are constructed in a complete eco-friendly manner.

Maitreya Greens uses green housing technologies which make use of the ambient natural resources such as light and air to power devices, recycling and reusing water in a systematic planned manner, leading to reduced energy consumption and saving on the operating and maintenance costs

What do you recommend to the government to boost the real estate sector in India?
It is one of the most potential industries of the country but, still unorganized. The sector is critical and has driven the economy robustly. We certainly hope to see some fruitful reforms by the government for the industry. Improvement in investment climate by reducing legislative uncertainty is a must to resolve the issues of aggressive approach of tax authorities. Speedy govt. approvals to reduce the processes and activate lined up initiations.

Most importantly the budget has to be more buyers´ centric so that maximum number of people can look forward to buy homes in metros and two tier cities.

As the country gears up to develop 100 Smart Cities and is focusing on setting up manufacturing hubs as part of ´Make in India´´ campaign. What kind of opportunities do you see for your company?
We certainly welcome the concept of smart cities by the government and the conversion of the concept will definitely be a case study in the real estate sector. Though there is a long road to go as there has been no scheme launched to execute in various parts of India. So there is no question of any expenditure on that account. Hiring of stakeholders is in pipeline and they are the one who will support on the concept. We will definitely keep a close look on this initiation and how the concept takes shape in the times to come. It´s too early to comment anything, seeing the progress we definitely look forward to contribute and make mileage out of it.

According to you, which segment of the real estate will be the top runner in the next five years? And Why?
The residential segment will see the maximum boom in the years to come. Here are some of the common factors:

  • India growing as an hub of IT companies- the accumulated resource capital with the new young generation working in the IT companies
  • NRI´s buying property in the country- the presence of NRIs and their interest in investing in the Indian real estate market
  • The increase in the concept of nuclear families
  • The concept of lifestyle and luxury living have made people to invest in two tier cities so can´t have their dream homes in metros.

Could you provide us insight about your current project portfolio?
Brahmayog, situated at a strategic location of about 2 km from Shri Sai baba temple & touching the railway station & ring road is the project going to be launched soon. It is a quite & peaceful residential investment considering the rising value of appreciation in Shirdi.

The various amenities are: Children play area, Ample car parking, Basketball court, Gated community with 24*7 security system, township accommodating more than 80 families. The project has Vastu designed flats, earthquake & termite resistant, stilt+4 RCC frame structure with BB masonry, branded passenger lift with power back up facility, all branded & ISI marked electrical, fittings & birla putty internally, water purifier in every flat.

What kind of solution do you recommend to overcome shortage of manpower in the construction sector?
Technology is definitely a solution to overcome the labour issue and is cost efficient. To ensure that the construction is not hampered by the absence of labour, we already have cranes as an alternate for manual jobs like weightlifting at the construction sites to ensure that the work is carried on in momentum and there is no hindrance for delay. We also use pumps for sheltering to ensure that the work is moving at a faster pace.

We train workers to acquire the latest skill sets in building construction and make a concerted effort in caring for their families too.

There is a need to invest in the skill development, training and education of our workforce; considering technology will need to be operated by skilled workers, thereby providing a stimulus to the growth of labour demand in the future. Newer technologies have the potential to not only reduce project costs but also improve time to market.


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