“We Treat Each of Our Projects As a Jewel”
Having a modest beginning, Mr. D. Raghu with his partner Mrs. Suman Raghu, both qualified civil engineers jointly established a partnership firm M/s, Aditya Builders and Developers in the year 2004 and completed several projects in Bangalore under the brand name ‘NAVAMI’
A venture that started three decades ago has blossomed into one of Bangalore’s robust infrastructure companies. Navami with its eye for detail and accuracy has built a niche in the market of construction companies in Bangalore with an impressive clientèle throughout the whole region. Navami as a company is also known for its management, corporate culture, work-friendly infrastructure, in house design team, board of qualified engineers and architects, panel of legal advisers and chartered accountants, skilled work force and advanced machinery. D. Raghu expresses his views on the realty sector growth over the years.
What have been the most challenging moments in the journey of Navami Builders & Developers since its establishment in the year 2013?
Post Demonetization, Introduction of GST, RERA and NGT order especially in Bangalore was the most difficult period we have witnessed in the past 22 years of the history of Navami. The challenge was to complete the ongoing projects and hand them over to the customers within the time schedule, which we have managed to do, in spite of the sluggish market at that period.
According to you what are some of the distinguishing features of South India residential real estate.
South India and especially Bangalore is one of the sought after destinations for Real Estate Developers because of its pleasant weather conditions and cosmopolitan nature. Bangalore is also called the IT Capital and Start-up Capital of India, because it is well connected to all parts of the world through the International Airport which is going to be the biggest in India having 2 runways shortly. The Infrastructure of Bangalore because of its Metro and other modes of transport makes it one of the potential Real Estate destinations in India. Also read http://realtyplusmag.com/some-distinct-residential-projects-recently-launched-by-navami/
What has been a Navami Sale & Marketing strategy in keeping with RERA
Marketing mainly depends on the location of the property, ticket size, construction quality, transparency in dealings, timely completion of the project and a clear marketable title which drives the sales. We have maintained a descent record in all these areas for the past 22 years. All these factors have helped us come out successfully even during one of the most difficult periods that Real Estate in India faced.
What are the varied funding options now available to developers from Banks, NBFC to PE and REIT and the most suitable in the current scenario
We have been associated with our bankers for all types of funding and we have been successful in availing funds for our construction. With regards to NBFC and others, even though we are not associated with these sectors, but in IL & FS the funds seems to have dried up in all these sectors and in the present scenario these sectors are not lending any funds.
How will the RBI increase in its repo rate making home loans dearer, influence the residential real estate sales?
Definitely the repo rates have a bearing on the Residential Real Estate sales, but to what extent it is going to affect the sales depends on the market conditions. If the market is bullish it will have little bearing and if it is sluggish it will have more bearing.
The forecast for next year and growth potential of real estate in South
The market seems stabilising and we are seeing an upward trend in sales and overall it looks bright.
What are the growth & expansion plans for Navami?
At the moment we have about 2.5 million Sq Ft of construction in the residential segment. We have 2 more projects of about 2 million sq ft construction area in the pipeline in the next financial year. We are also venturing into the hospitality and health sectors.