Growth trajectory in residential sales Commercial too will come up soon: Deepak Kapoor

The change in consumer preferences has given some impetus and there is a growth trajectory in terms of residential sales, said Deepak Kapoor, Director Gulshan Homes. Commercial, he said, has taken a hit but that too come up shortly because people have resumed their normal activities while taking adequate precautions. In an interview to Realty & More Editor Palash Roy, Kapoor also talked about three new products which Gulshan Homes is going to deliver by the end of the first quarter of 2021.

• The hygiene levels across the world have gone up manifold; people have understood the value of cleanliness, the value of how to maintain their health and their life in a happy and a simple form.
• Consumer preferences have gone up in terms of residential demand and now consumers have started thinking that they need not only a good house, but a little better, a little bigger-size house to stay in.
• We have seen that people have started moving with lot of precautions; to do the shopping again, to go to the retailers, going to the restaurants and watching movies again.
• For 2021, we also have a new product category which we shall be able to reach the completion level, which is Gulshan Dynasty. It’s a new product – wellness homes, homes for the deserving few.

The following is the text of the interview:

Palash Roy: How has the year 2020 been?

Deepak Kapoor: Well, 2020 was full of lot of innovations, lot of rethinking, lot of reuniting of ideas, introspecting on what we have done so far, learning from the new normal, start living with what you have, start working with whatever resources you have and ensuring to move forward in a minimalistic way. These were the learnings we all have got from 2020 and it has definitely given few advantages and few positives as well. The hygiene levels across the world have gone up manifold; people have understood the value of cleanliness, the value of how to maintain their health and how to keep their life in a happy and a simple form.

Another factor which we have seen having emerged is family interaction, which before the pandemic was amiss in our daily life routine. In 2020, we have reignited the relations within the family to the core and we have understood what social life is and family comes first is the new learning. The health comes first is another new learning which we have seen in 2020. Earlier we were just running around without thinking. So we all have got lots of time to think, understand and plan how to live life in 2021.

PR: What are your expectations from 2021?

DK: Expectations are very generic, very normal: that we should continue to enjoy a very healthy and social life. May God give us courage to fight the pandemic and the entire country, the entire state and the entire population should live a happy and healthy life in terms of economic activities. We must continue to thrive, continue to grow at a pace which is sustainable and we should have that much of resilience, or strength, so that if any eventuality or any pandemic attack comes, we should be able to fight it with a good health.

PR: How 2021 is going to be for the real estate sector?

DK: I believe there is a change in the thought process as far as the real estate sector is concerned. Consumer preferences have gone up in terms of residential demand and now consumers have started thinking that they need not only a good house, but a little better, a little bigger-size house to stay in. The consumers have understood that at times house is the only place which is a net safety device. In 2020, we have learnt this new culture, called work-from-home. We have understood how to continue and create productivity from our home.

So in real estate, we find that these things have given some impetus and there is a growth trajectory in terms of residential sales. Commercial has taken a hit but I believe with the new vaccine coming in shortly, we will find that commercial will also come up because we have seen that people have started moving with lot of precautions; to do the shopping again, to go to the retailers, going to the restaurants and watching movies again.

PR: What new offerings from Gulshan can we hope to see in 2021?

DK: During the 2020 post-lockdown period, we have geared up and started construction very robustly. We are proud to say that by the end of the first quarter of 2021, Gulshan will be able to deliver three products to the market, one commercial and two residential in Noida, thereby giving delivery of approximately 2,000 apartments and putting new marketplace on Noida Expressway to the tune of 4.5 lakh square feet of leasable area in the categories of retail, food and office space.

For 2021, we also have a new product category which we shall be able to reach the completion level, which is Gulshan Dynasty. It’s a new product – wellness homes, homes for the deserving few.