In an exclusive interview, Rajjath Goel of MRG Group gives his views on the current state of the real estate sector in the Delhi-NCR region as well as the Haryana government’s recent thrust on affordable housing.
With the development of prominent projects and the continuous influx of investments, the Delhi-NCR real estate market presents lucrative opportunities for investors while offering a diverse range of options for homebuyers, says Rajjath Goel, Managing Director, MRG Group.
In an exclusive interview with Sanjeev Sinha, Mr Goel gives his views on the current state of the real estate sector in the Delhi-NCR region as well as the Haryana government’s recent thrust on affordable housing. Excerpts:
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How do you perceive the current state of the real estate sector, especially in the Delhi-NCR region, and what are the factors contributing to its attractiveness for investors and homebuyers?
The real estate sector in the Delhi-NCR region is witnessing robust growth fueled by several factors. Firstly, the region’s strategic location and excellent connectivity make it highly attractive for both investors and homebuyers. Additionally, the presence of established infrastructure, world-class amenities, and a burgeoning job market further contribute to the region’s appeal. With the development of prominent projects and the continuous influx of investments, the Delhi-NCR real estate market presents lucrative opportunities for investors while offering a diverse range of options for homebuyers.
How do you see the commercial real estate sector evolving in the Delhi-NCR region, and what opportunities and challenges do you anticipate for developers in this segment?
The commercial real estate sector in the Delhi-NCR region is undergoing a significant transformation driven by evolving market dynamics and changing consumer preferences. With the rise of co-working spaces, flexible office solutions, and mixed-use developments, developers have many opportunities to capitalize on. However, challenges such as escalating construction costs and evolving tenants demand novel solutions. Developers must adapt to these challenges by adopting innovative strategies, leveraging technology, and focusing on creating dynamic, sustainable commercial spaces that meet the diverse needs of modern businesses.
What role do affordable housing initiatives play in addressing the housing needs of middle-income segments, and how can developers contribute to making such projects financially viable while maintaining quality standards?
Affordable housing initiatives are instrumental in bridging the gap between housing demand and supply, particularly for middle-income segments of the population. These initiatives contribute to social inclusivity and sustainable urban development by providing access to affordable, quality housing options. Developers can make such projects financially viable by leveraging government incentives, exploring innovative financing mechanisms, and adopting cost-effective construction techniques.
What are your views on the recent thrust provided to affordable housing by the Haryana government?
The recent increase in allotment rates by 20% in Haryana will provide new vigour to affordable housing in the state, making it profitable both for the real estate companies and buyers, as it will encourage the developers to come up with new affordable residential projects. For instance, our new project at Sector 90 under the affordable housing initiative will address the needs of homebuyers and bring a new wave of amenities to the affordable housing landscape.
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With your group’s expansion into the luxury residential segment, what unique features or offerings can prospective buyers expect from your projects, particularly the one in Sector 106, Gurugram?
Our luxury residential projects are meticulously crafted to redefine the concept of upscale living. In Sector 106, Gurugram, prospective buyers can expect unique features and offerings that epitomize luxury and sophistication. From exquisite architectural design and opulent interiors to state-of-the-art amenities and personalized services, our projects in this segment cater to affluent buyers’ discerning tastes. With a focus on creating an unparalleled living experience, we strive to exceed the expectations of our esteemed clientele with every aspect of our luxury residential projects. With the vision of ‘Spaces for Life’, our group aims to shape the city’s skyline with environmentally-sustainable and modern living spaces, reflecting their dedication to a customer-centric approach.
