Swaroop Anish, Exec Dir, Business Development - Prestige Group
Property prices hovering at a reasonable level in Southern India and there is a renewed interest emerging even in properties at a higher end (in terms of pricing), says Swaroop Anish, Executive Director, Business Development - Prestige Group.
With a prolific career spanning over 25 years, Anish a B.com and Post Graduate in International Management from IMI, driven by a passion for real estate, started his career in Southern Investments, an organization which was one of the pioneers of real estate in India. He was exposed to the Bangalore, Chennai and Kerala markets during his long tenure there, which helped him gain a strong understanding of the South Indian market. This was followed by shorter stints in two other reputed companies.
Swaroop joined the Prestige Group in 1996. Over the years, he has been responsible for leading business development, in the residential and commercial segments, across the geographies where the company operates. He is currently responsible for all business development and new projects for Bangalore. His role requires him to handle a gamut of responsibilities - from land acquisition and design development to sales and marketing.
Excerpts of his telephonic chat with Sandeep Pattnaik of Gharabari.com…
Q.1. How the property prices hovering in South India keeping in view the prices in a higher bracket in rest of the Country?
Ans. Prices are reasonable as far as customer view point is concerned. It is generally ranging between Rs 4,000 – Rs 6,000 sft with attractive products. These products offer good specifications, amenities and a host of other benefits. On the upper end prices vary from Rs.10,000 to 30,000 as far as big ticket prices are concerned. There is renewed interest in the big ticket category too.
Q.2. How do you see the Bengaluru Metropolitan Area Development Plan at it existing form?
Ans. The present plan is subject to loopholes, like no proper zoning of the city is included in the master plan. There exist infrastructural bottlenecks as to road network and road width in the upcoming areas. Spaces for infrastructure, utilities and social amenities are not being provided for.
Q.3. What benefit should be provided to the realtors to further the vision of Modi Government’s mission “Housing for All” by 2022?
Ans. Tax concessions should be provided to the budget housing sectors. Similarly sales tax, VAT, registration charge should be brought to minimum %. Besides, tax benefit for developers which give them an incentive to enter this segment.
Q.4. What is Prestige group’s investment commitment for fiscal year 2015-16? Which geographies do it plan to expand and in which verticals?
Ans. Rs 5000 crores, out of which Rs 4000 crores is towards construction and the rest towards land acquisition and business development. The group aims to add Pune, Chennai and Hyderabad in its expanding set of projects besides the existing Bengaluru city. We aim to add warehouses, amusement parks and logistic parks to our existing verticals.
Q.5. What is the Group's present debt-equity position for financing of projects?
Ans. 0.72 (Net debt of 3000 Crores and substantial portion of the same is towards construction of Capex and rental yielding projects).