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Monday, 03 Nov 2014
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Xrbia plans to build 100 feature ready cities by 2030
 Rahul-Nahar
 
   Q. Tell us about XRBIA's ongoing projects in various cities of India?

 

XRBIA Developers is a unique housing venture established in 1995 and has projects spread across Mumbai, Nagpur, Delhi and Pune. All the XRBIA Projects are designed and master planned by world renowned Architect, Hafeez Contractor, who has created a revolutionary housing design for every project. Recently, XRBIA Developers announced the pre-launch of its THREE residential projects in Pune and Mumbai.

 

   Q. Your views on affordable housing vs the premium segment?

 

Today, the real estate market has completely changed. The situation has shaped up due to recession. The affordable housing segment has been badly hit.A new trend has developed that is increasing the demand for luxury homes. This segment emerged as an attractive proposition for developers in 2006-07. Dozens of projects were launched and sold.

 

There is a qualitative shift in the buying patterns, as well as the buyers segment, for luxury housing. Earlier, investors comprised a large segment of the buyers and value appreciation was probably the biggest concern.However, today's buyer is looking at the developer's profile and his track record. More significantly, buyers of luxury homes today are neither investors nor first timers.

 

The survivors are now willing to spend on the luxuries of life but are picky about the developer they choose to buy from. Those developers whose projects continue to clock progress are today's winners. The only assurance the.buyer of today understands is delivery on his own terms. During the wild run of real estate in 2006-2008, all developers were building in the premium segment only. But now, most developers put their products where the lending is most active. The onus is on the policymakers to keep watching and moving to rein in market forces to meet the demands of the majority, as every market segment gives out signals. The policy makers' antennae has to be tuned into these changes to catch the right signals.

 

   Q. Your views on the proposed 100 Smart Cities?

 

The population in India is growing rapidly and a number of major cities are already facing infrastructural and environmental problems. The future scenario looks scary; however, it is estimated that by 2030, about 600 million people will be residing in cities in India.

 

To accommodate this rapid urbanisation, the Central Government has allocated approx `7,060 crore to build 100 new smart cities and to develop satellite towns around existing cities.

 

The vision of developing Smart Cities has begun with the ministry of Urban Development identifying new and existing locations that will soon be transformed to 'smart' locations.

 

These smart cities will certainly garner the attention of the IT sector that will eventually provide real-time inputs on availability of water, electricity, healthcare and education. This will effectively manage the traffic,weather prediction, pollution control, disaster management and emergency response through technology enabled for all smart cities.

 

   Q.What role would XRBIA like to play in smart cities development ?

 

We, at XRBIA Developers, share a similar vision to build "100 feature ready cities by 2030".

 

We have taken it upon ourselves to build not only houses, but cities that are environmentally friendly, technologically advanced, committed to education, dedicated to health, and which foster community spirit. By 2030, India will have a housing shortage of 100 million homes. By building 100 new cities, Xrbia hopes to meet one per cent of this need.

 

   Q. Will REITs be effective in regulating the Indian real estate sector ?

 

The Indian real estate sector continues to lure international as well as domestic investors. The government of India has recently announced in the Union Budget 2014-15, that it will boost the investment sentiment in the country. The announcements, such as the allocation of funds for boosting rural housing and infrastructure, introduction of real estate investment trusts (REITs) and various other steps, have promoted affordable housing segment in the country and have created a favourable market place for further growth. REITs in particular, will prove to be an effective tool for enhancing investments in the commercial / residential real estate.


 

 
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