India's Top Builders

01 Sep 2013 CW Team

It's that time of the year when we get down to the immensely pleasurable task of feting the crème de la crème of India's builders.

And that's exactly what the 8th Construction World Architect and Builder (CWAB) Awards 2013, held at ITC Grand Central in Mumbai on August 23, 2013, achieved. The glittering gathering included stalwarts from the building and construction industry and cognoscenti, including the eminent Dr RK Pachauri, Director-General, The Energy and Resources Institute (TERI), the chief guest at the event.

Selecting the best is never an easy task as the builder community from across the nation constantly keeps challenging itself to surpass its own benchmarks and excel against the competition. Or, as in recent times, combating the debilitating impact of the global economic slowdown, which has impacted the real estate business in terms of rising material costs, manpower shortages and problems in funding through new strategies and innovative mechanisms. Or even pushing the envelope further when it comes to the need to build brand value, which is paramount in today's competitive times, and how this can be achieved as is evident from the accompanying piece, 'The Magic of Branding'.

Indeed, the 8th CWAB Awards is our tribute to the resourcefulness and grit these exemplary builders have displayed. Like before, the selection of India's Top Builders has been derived through an industry-wide, perception-based survey and subsequent validation of those findings through vetting by an informed jury. This year, with the theme being 'InnoVision'- our way of identifying a creative vision - the criteria for pre-selection involved identifying architects and builders who have been innovating designs across a variety of projects in the form of fresh ideas along with a vision that encompasses the realities of the environment, utilisation of space, and designs sensitive to Indian cultural and living habits.

Read on to learn more about our winners and their innovative projects -not to mention a photo feature of what was a hugely successful event...

The Magic of Branding

ASHOO ADVANI, Brand Planner, Chlorophyll Brand & Communications Consultancy,shares some tips on how to build a brand.

Branded properties command a higher price and sell faster. In fact, between 2009 and 2012, in India's Tier-1 cities, branded properties appreciated 12 to 21 per cent more than overall market rates. Building a brand in the real estate industry takes a long time, heavy investment, absolute commitment and unwavering focus. For starters, here are some tips:

Invest in developing a brand identity: Usually, the meaning of 'brand identity' is reduced to the name and logo. In reality, for realty, it also involves developing a signature style that identifies your brand without having to see the name of the developer. Many developers forget that by using the signature style of the architect, they are losing out on developing their brand. When it comes to the name and logo, ask this question: 'What is the story your brand name and logo is telling beyond identifying you?' If you don't have an answer, perhaps you need to rethink your logo (if not the brand name) and get some professional help. The sooner you do this, the lower the emotional and financial cost of changing.
Develop commonality in your offerings: Just like all BMW models have a commonality in their grill design and are designed to maximise joy for the driver, all properties from one developer must have commonality. Without this, there is no brand.
Differentiate your offerings: This is fairly commonsensical. But I really do not see many differentiated offerings. Don't believe me? Ask somebody to collect real estate ads from the past six months and remove their logos. You'll find that more than 80 per cent of the structures are unidentifiable.
Shape your offering based on the target: Define your target for each project during the planning phase. This will enable you to shape your offering and make it easier to sell. For example, including a swimming pool may seem attractive initially, but you must think about the long-term maintenance costs for occupants and whether they'll be able to afford them. If they do not maintain the pool properly, your brand will suffer.
Post-sale and pre-delivery assistance: Most customers say their developer's attitude changed after they paid their first instalment. What is interesting is that, for the same phase, developers say that customers unnecessarily get worried and make unreasonable demands. This lack of empathy from developers causes customers to panic. After all, for most customers, purchasing real estate is one of the biggest investments of their lives. A simple monthly update and a quarterly phone call from the person who managed the sale can go a long way in keeping customers satisfied and ensuring they do not panic if there are delays in construction.
Behaviour builds a brand the most: So you've got all these right: land, permissions, famous architect, quality of design and construction, attention to detail, timely delivery and everything else that matters. But yet you find that you are struggling to find customers for your next project. Perhaps you need to look at your behaviour now. Building a brand in real estate is all about living up to all said and unsaid promises. This is the key to gain customer confidence and get the right word-of-mouth. Remember, whether it's residential or commercial, people talk to their friends and well-wishers before making such an important purchase.

India's Top Builders