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In conversation with Charu Bahri, Harshavardhan Neotia, Chairman, Ambuja Realty, and Padma Shri (1999), talks about the expansion plans and projects he has lined up for coming years.
Suddenly and silently, the price of construction has gone up dramatically in India. Construction World speaks to contractors, developers and building material majors to find out why and assess the implications for the industry and end-users.
Its mission is succinct: to make a difference in the way people live. And Ambuja Realty has done just that.
In one of the decade's largest real estate deals in Kolkata, Ambuja Realty has acquired the RMZ block of Ecospace Business Park in New Town, Rajarhat, Kolkata.
Downward pressure on margins, availability of funds and slow moving order books - these summarise the performance of the construction and building sector in 2013. Going forward, faster execution of projects and seamless flow of funds into the sector hold the key to a positive outlook of this sector.
Today, Mumbai's 100-year-old Bhendi Bazaar, a place rich in history and culture, once considered among the liveliest local shopping destinations, is in a dilapidated shape. Eighty per cent of the buildings have been declared unfit for living.
Where change is the only constant,Harshavardhan Neotia Chairman INNO-VISION ZONE, With several projects in Eastern India and other parts of the country in the pipeline, Ambuja Neotia Group continues to live by its maxim of making a difference to the way people live.
India is primarily an end-user market for the real estate sector. Although demand remains largely consistent, property sales volumes fluctuate on the basis of market influencers such as project pricing, end-user affordability, and macro-economic dynamics.
Between the environment exterior to a building and the interior environment lies the Façade. 'The first and most important function of the Façade is to act as a filter between the inside and outside environment,' says Manit Rastogi, Founder Partner, Morphogenesis.
Comparing regions, there is not much difference in perception in terms of what buyers want. Kolkata as a city is unique in its way. There are different perceptions about the market. While some look at it as a slow market, I personally see movement in the present day.
