Just over 10 years ago, Basant Bansal and Roop Bansal decided to set-up a real estate company – M3M India. The passion and commitment became the foundation of the company and within no time, the journey of excellence began. Soon Pankaj Bansal, the son of Basant Bansal – the second generation, took the reins in…
Many industry observers in the country say a bright future awaits real estate sector in the coming years. What do you think of the contribution of real estate industry in the economic growth of the country?
The real-estate sector that deals with housing, retail, hospitality and commercial is expanding with multi-fold increase in demand and growth in mandate from urban and semi-urban sector. The real estate is ranked 3rd among the 14 major sectors in terms of direct and indirect or induced impact on all the sectors of the economy. The real estate sector is also the 2nd largest sector in terms of employment generation, only after the agriculture sector. The real-estate sector has been successful in creating employment both in short-term as well as long term. What is driving the real-estate sector in India so aggressively, is the question? Is it the change in the need and mindset of the society for long term investment or it is that Government has decided to relax norms and policies to attract investment in real estate? The answer should be both. According to report by Indian Real Estate Industry, August 2021, the real estate market is all set to reach market size of USD 1 trillion by 2030 and will contribute 13% to the GDP by 2025. The report also predicts the market growth to USD 9.30 billion (about Rs.65,000 crore) by 2040. With all the above, the Government initiatives will also emerge as the game changer. The 100 smart cities project is a commendable opportunity for the real estate sector.
India has improved its position from 142 to 63 in the World Bank’s ease of doing business rankings. From your perspective, how the country is evolving in terms of ease of doing business?
India has always been on the global radar in terms of ease of doing business. Today, India is one of the fastest growing economy in the world and no doubt the credit goes to both Central and the State Governments. The Central Government proactively introduces much needed dynamic policies and also brings-in relaxations in the existing policies, once needed. The State Governments go all out to facilitate and support the industries by implementing these policies. There is also a lot of encouragement and support coming for start-ups by the Government, which is indeed a big step towards innovation in business sector and would prove to be a big support for the development of the Indian economy and employment generation.
What's your vision on M3M? Can you tell us about your philosophy of doing business?
We want to be the biggest and the most respected brand in India by delivering sustainable and customer centric projects. We are committed to our investors and will always remain. We do not compromise on quality of construction, luxury, timely possession and post possession care. We are a law abiding company that gives highest priority to corporate governance, ethics, safety and sustainability.
A must-have detail in your projects
Safety and Sustainability
The real estate entrepreneur who inspires you
Inspiration is subjective
Favourite M3M project
All projects are my favourites, but Trump Towers, Golf Estate is on top of the list.
Three essential qualities needed for a real estate developer
Extreme respect for corporate governance that includes adherence to all rules and regulations. Second would be sensitivity towards customers, their purpose and requirement. And third would be timely completion of the projects. These three qualities are the values also and if adhered in right spirit, it should bring a win-win situation for all.
If you had to choose another industry, what would it be?
It would be always Real Asset, i.e. real-estate.
If you were the Royalty of Realty, a rule for citizens regarding real estate would be?
Select right real-estate developer who can deliver the projects within stipulated timelines, gives highest priority to corporate governance, ethics, safety and sustainability; and meets your expectations.
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