Tulsiani to set foot in NCR

After many a successful launch in Uttar Pradesh, luxury real estate firm Tulsiani Constructions and Developers is marking its presence in other locations in the country. Tulsiani is an Allahabad-based company having expertise in design and development of residential and commercial property. Claiming ‘People First’ to be its mantra, the company says the people, their needs and quality of life, and the environmentare vital inputs for its engineering, landscaping or choice of location.

With a firm belief in ethical and responsible business practices, all the projects of Tulsiani are associated with uncompromising construction standards and aesthetic beauty. The company is driven by the entrepreneurial passion of Anil Kumar Tulsiani and Mahesh Kumar Tulsiani.

The following are the excerpts from an exclusive chat Realty & More had with Anil Kumar Tulsiani:

Which are the areas where you have ongoing projects now?

Till now our ongoing projects are based on Uttar Pradesh only i.e Lucknow, Allahabad and Meerut but the company is now planning to expand in NCR also.

What is the delivery schedule of those? And are they running as per schedule?

The delivery schedule is three years from the date the construction starts and our projects are running as per schedule.

Do you buy the theory that real estate prices have to come down for the revival of the sector?

The theory that real estate prices have to come down for the revival of the sector is correct as we all know that there was sudden fall in the demand in 2014-15, when the market had become very competitive and the private developers were just concentrating on the mid-income and high-end housing. Now the focus is shifting to products of less price i.e. affordable housing which will provide an appropriate option to diversify risks to the developers.

What are your views on the recent comments that real estate developers should limit themselves to legitimate profit only?

Yes! Real estate developers should limit themselves to the legitimate profit only so that they can cater to the mass not the class with affordable price.

Do you think that growth potential is more in Tier-II and Tier-III cities as compared to the metros?

Yes, I feel that growth potential is more in Tier-II and Tier-III cities because in metros there is no land parcel within the city limits pushing the developers to aggregate land at suburban location where a high-end project might not be successful.

How different is the Delhi-NCR market from the real estate market of Uttar Pradesh?

Properties in Delhi & NCR i.e. Ghaziabad, Noida and Greater Noida are selling due to their massive industrialisation whereas in Uttar Pradesh there are other factors which work i.e. peaceful spiritual environment. Varanasi and Mathura have also given a rise to the demand of Uttar Pradesh property among the intellectuals. The escalating price of residential real estate and commercial real estate in Uttar Pradesh ensures profitable returns in future.

Which are the emerging and promising destinations in Uttar Pradesh?

Lucknow, Kanpur, Agra, Meerut, Varanasi and Mathura.

Why Lucknow has not been able to be in race of hot real estate destinations as compared to big cities of other states?

Because of no industrialisation and lack of infrastructure development, Lucknow has not been able to be in race of hot real estate destination as compared to big cities of other states.

What are your future plans?

We are coming in Gurgaon with affordable housing and some more projects in Lucknow.

Do you think real estate market will be able to meet up the huge demand and supply gap in affordable housing?

Yes, the real estate market will be able to meet up the huge demand and supply gap in affordable housing because the Government and private builders also are focusing on this segment.