Meeting evolving needs of customers at the forefront of projects
27 Sep 2023 Editorial Team
Ashwin Sheth Group is known for its design-driven innovation, resourceful planning and unwavering focus on quality, which has led to creating meaningful experiences as an endeavour to provide the best to its customers. Since its inception over three decades ago, the group has delivered some of the finest residential, IT, retail and township projects in India and abroad, through resourceful planning, unwavering focus on quality and customer-oriented designs. With 80+ diversified luxury landmark projects across Mumbai and Dubai, including landmarks like BeauMonde in Prabhadevi, Iris Bay in Dubai and Viviana Mall in Thane, the brand has nestled over 25,000 happy families in their dream homes. Ashwin Sheth, Chairman and Managing Director, shares more in conversation with CW.
Homebuyers are shifting towards the suburbs in Western and Central Mumbai with a preference for 2 BHKs. How has the Ashwin Sheth Group leveraged this trend?
The Ashwin Sheth Group has been well attuned to the evolving preferences of homebuyers in Western and Central Mumbai. In response, we have adapted our project strategies in several ways:
- Strategic location selection: There has been a focus on acquiring land parcels in areas that offer a perfect blend of connectivity, infrastructure and lifestyle quality. The locations are strategic in providing easy access to social infrastructure such as employment hubs, schools and healthcare facilities that cater to the needs of the modern suburban dweller.
- 2 BHK-centric designs: Our projects such as 72 West in Andheri, Sheth Montana in Mulund, Sheth Avante in Kanjurmarg and Sheth Zuri in Thane have been enhanced to accommodate the increasing demand for 2 BHK spacious apartments, well-planned projects, less density and functional layouts that meet the requirements of modern families.
- Amenities and lifestyle features: All our projects have integrated a range of amenities and features that fit into today’s lifestyle requirements, such as landscaped gardens, fitness centres, swimming pools and recreational spaces to enhance the overall quality of life for our residents.
- Affordability: With competitive pricing strategies, our 2 BHK apartments across Andheri, Thane, Mulund and Kanjurmarg are accessible to a wide range of homebuyers.
What is the cost difference between sustainable and conventional construction methods?
Transforming our cities for a sustainable future is no longer just a moral obligation; it is a critical economic and social necessity. Developers have also started to appreciate the long-term advantages of building sustainable structures. This shift brings lower operational costs and heightened market desirability. According to a recent report by Anarock, while green homes cost at least 10-15 per cent more than a normal home depending on various factors, the demand for green buildings in India is growing based on buyers’ commitment towards a greener and more sustainable future. Developers are also executing eco-friendly workplaces prioritising employee well-being that will enhance efficiency and reduce operational costs – this is the future of work. Therefore, while the upfront cost of sustainable construction may be higher, the long-term financial benefits, coupled with the positive environmental and social impact, make it a compelling choice for developers and investors committed to a sustainable future.
Please share your views on how technological innovations such as Blockchain, AI-powered algorithms, predictive analytics and IoT hold the potential to reshape the real-estate sector.
These are just glimpses of technology that is poised to revolutionise how real estate businesses operate. In today’s era, consumers are extremely tech-savvy and have a wide range of options at their disposal. Consequently, there’s a growing need for resilient and flexible marketing approaches that respond to changing consumer tastes and technological advancements. Further, the introduction of the ground-breaking concept of the ‘experiential paradigm’ promises to completely reshape how we market and perceive the world of real estate.
What are your future expansion plans?
Some of the group’s ongoing projects are adorning the skyline in different parts of Mumbai and MMR. Construction is in full swing for 72 West – Andheri; Avante - Kanjurmarg; Montana - Mulund; and Avalon, Vasant Lawns and Zuri in Thane. We are expanding our residential and commercial portfolio in Mumbai. A key objective is to change the homebuying dynamics in the western suburbs.
We will soon launch a project in the Kandivali (W) vicinity that will host 51-storeyed tri-towers with breathtaking views of Sanjay Gandhi National Park (SGNP) and Pagoda. This project boasts mixed development and it will entice customers from all sectors of society. This will be our 15th landmark project in the Kandivali micro-market in the past two decades. Highlights include eight levels of podium parking, deck areas for all typologies and over 25 modern lifestyle amenities.
According to a report by Knight Frank India, the western suburbs accounted for 58 per cent of sales registration in January 2023, 57 per cent in February 2023, 62 per cent in March 2023, 54 per cent in April 2023 and 58 per cent in May 2023. The development that the western suburbs have seen over the past two decades has been commendable in terms of residential growth, physical infrastructure, commercial hubs and social infrastructure.
Indeed, we are extremely positive about the Mumbai real estate market and will soon be launching projects in the MMR region across different locations. We are also looking into land acquisitions, JV developments, society redevelopment, DA model, new asset clearance, new cities and expanding our commercial portfolio. We have also strengthened our senior leadership team to achieve these desired goals.