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Sailing through turbulent times

COVID 19 has, on the one hand, ravaged the consumer sentiments to a large extent, it has on the other hand opened different paths for most of the industries to stay buoyed. Nothing is different with the Real Estate industry as well. Most of the developers are following the new paths to lure customers and ensure the movement of their inventory. Goes without saying that this new path is completely driven by Digitalization and technology.

 Although the Real Estate industry is experiencing a spurt in the inquiries post-COVID, thanks to the pent up demand which is resurging, how long this pent up demand will sustain is a big question mark in front of most of the developers. Nevertheless, all the possible efforts are being put in to make the best of these inquiries and translate them into sales. 

It looks like the residential segment has already caught the momentum with most of these inquiries are getting translated into quick conversions. This is because most of the customers who were sitting on the fence are now taking the final call. Also, there has been a surge in the new customer buying mainly due to the value deals which the developers are offering and also because of the dirt-cheap home loan rates. On the other hand, the commercial real estate segment which had been the growth engine has suddenly lost the momentum amidst the COVID crisis and looks like it may take a good deal of time before this segment gets back its luster.

 In the context of the above circumstances, it becomes imperative for us to understand as to how these developers are managing the show under the looming fear and anxiety of COVID. Let us have an insight into what’s happening on the ground.

Webinars

Webinars have proved to be a very effective medium to reach the prospects and have also worked out to be a cheaper and convenient option. Developers are organizing regular webinars for their customers to share the project details and also to communicate the new schemes and offers. Developers are finding active participation in these webinars since a large part of their customers are working from home currently. They try to keep these webinars as interactive as possible to address all the possible queries which customers have. 

Virtual Site Visits

Virtual site visits are acting as a replacement for physical site visits. This has proved to be another convenient way both for the customer and the developer to have a clear insight into the project. The salesperson takes the customer on a Virtual Tour of the project through a video call. Starting from the model apartment to the actual flat along with the common areas and the amenities and the specifications, the salesperson covers every aspect of the project in the video call. The objective is to orient the customer on all the features of the project since a physical site visit may not be possible at this point. This is followed by the explanation and briefing of pricing and other schemes.

Contactless Kiosks

Since people are obsessed with contactless activities amid this COVID crisis, Developers are also embracing the thoughts and are deploying contactless kiosks and gadgets across their site offices to service their customers. Albeit these interactive gadgets at the site offices were installed and were in use much before Covid19 by a few leading developers, their importance is now realized and many developers are now following these footsteps and have started installing these devices across their site offices. Any customer can just walk into the project site and with these easy-to-use interactive devices can know every aspect of the project including the availability and pricing for the preferred unit with literally no or very little assistance from the salesperson.

Also, the developers have now started as a practice of scheduling the site visits by giving appointments to the customers, especially during the weekends, so that no two customers walk into the site office at the same time. This process is currently manageable since the velocity of the visits is less. 

Payment Holiday

 Payment Holiday has proved to be a very effective tool in ensuring conversions offered by the developers. Under this scheme, a customer is not required to make any payments for a stipulated period. The period may vary for 1- 2 years depending on the stage of the project. The customer can book his apartment but he is relieved from making any payments at least for the time where there is uncertainty all around. This scheme acts as an insulator amid the stagnant or dwindling incomes of the customer. 

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Price Guarantee

Price Guarantee schemes are in vogue currently. Since a lot of customers are anticipating the real estate prices to fall sharply in the context of the COVID crisis, for those sitting on the fence it becomes very difficult to make a final decision. Hence to clear this fog, the developers are offering price guarantees thereby guaranteeing the customers that they will not sell below the offered price anytime in the future and if they do so, they will indemnify the customer to the extent of the reduced price.

Cheaper Home Loans

The home loan interest rates have been on a free fall for a while now and are currently at their best. Few lending institutions are offering interest rates sub 7 % which by and large are the best rates in decades. A large chunk of home sales is financed by home loans, and thus  Home loan becomes the fulcrum of any home-buying decision. Since the rates currently are dirt cheap, this becomes an apt time for any home buyer to finalize on his property. 

Extension of PMAY Scheme

The extension of the PMAY scheme by the housing cabinet has been a shot in the arm for home buyers and developers. The scheme which was earlier due to expire in March 2020 has now been extended till March 2021. This means more home buyers can avail of this scheme. The scheme has received a very good response since its launch and banks have been touting this scheme to push their home loan products and penetrate deep into the end-use home buyers. 

Albeit the above measures can keep the developers buoyed till the demand picks up, one should also not forget that the demands of the customers have changed post the COVID era and therefore the developers need to be proactive in case if they have to be in sink. This has led to the developer fraternity to quickly adapt to the changes and mull on the following streams.

Digital Engineering

This is a blend of the present construction technology with Digital Technology. In simple words, all the critical components will be controlled by the internet and very little human interference may be required. Contactless Entry and Exits, Contactless lifts, Interactive kiosks at the clubhouse, all homes are home automated by default, are the few examples of digital engineering. All this may come at an additional cost but the benefits will overpower the costs in the long term. Also since the technology is available and is already in use in the developed countries, imbibing the same may not be an onerous task for, most developers. 

Energy Management and IGBC Certification

Energy Management is one of the emerging streams in the construction industry and shall be widely adopted by many developers. Energy management refers to the smart management of necessities like Water, Electricity, Sewage, and Garbage. The primary objective of energy management is reducing costs and optimizing the output. This will in turn bring down the maintenance cost for the residents. Sustainable water and power conservation, installation of  Solar panels for common meeting the power demand,  Using treated water for all common area maintenance, and recycling of garbage are the common practices for Energy management. The right adoption of these practices will qualify the project for IGBC certification. 

IGBC certification is one of the most coveted certifications among a few leading developers in the country. Projects which are certified by IGBC follow high standards of energy management with sustainable policies and practices in place. The maintenance costs in such projects are very less and get minimized in long term. More and more customers are getting aware of the benefits of such projects and are willing to buy them. The initial outlay at the beginning may be a bit high when compared to the normal projects, however, when one looks at it in the long-term perspective the benefits outweigh the cost in actual terms while the capital appreciation will also be high. 

Is Price Correction in the Anvil

The most anticipated and expected move by a chunk of home buyers is a Price Correction. It has been observed that whenever there is a negative disruption in the economy, the first brunt is faced by the residential real estate segment mainly due to the deferring of capital expenses by the customers and the second main reason is home buyers start expecting a significant price correction to happen in residential projects. Theoretically, this phenomenon happens to be true however when one looks at it in a practical angle, the price correction becomes a far sight mainly due to the high costs which are being incurred by the developers. Among the costs, Material, labor, and cost of the borrowed money form the crux of the overall costs incurred. These costs either remain stagnant or keep increasing irrespective of the disruption in the economy. Moreover, the competition in the realty segment over the years has prompted developers to work on thin margins having left very little legroom for reducing the prices. Similar is the situation amidst the COVID pandemic, where homebuyers are anticipating the prices to fall, while the developers are grappling with high labor costs due to the migrant crisis and high cost of servicing the borrowed money from the lenders. Any reduction in the price below a point will only add to the developer’s woes. In such a context, the developers are generally willing to hold the stock then selling it at a discounted price since it will only amplify their pain. 

Price correction in Real Estate, especially in a disturbed economy has always been a perpetual expectation from the home buyers and certainly, the developers have been adhering to their expectations in the possible manner and extent. But are the discounts offered good enough in the context of the current demand-supply situation, is an area of ambiguity for most of the home buyers. However when one has to scratch below the surface to know the components of the cost, given that there is still a large amount of red-tapism involved when it comes to getting the required permissions, clearances, and NOCs from the respective departments for starting any real estate project.   

The developers have been craving single-window clearances for real estate projects for a long. This will not only remove the red-tapism from the industry but will also result in significant savings of costs which in turn can be passed on to the final customers. The government has also been mulling on it for a long and sooner then later the industry is expecting this to be in place.

Hence the sum and substance are that it is fair for the home buyers to expect a price correction, however, given the cost factors involved and the current state of affairs of the real estate industry, how much will be the magnitude of this correction is something to ponder upon. 


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Commercial Realty-The Growth Engine

In my previous post, I was able to throw some light on the evolution of residential real estate investments and its transformation over the years. Let me now take you through the other categories of real estate which are Commercial, Land, and Warehousing. Commercial Real estate is equally large as residential in terms of volume and value. However, this sector drives most of the funds from private equities and Foreign direct investment. Unlike residential, commercial real estate had undergone a radical transformation over the years. This is mainly due to the spurt of the IT Sector in major cities which led to the development of special economic zones. The demand for office space has increased multi fold over the years especially in metro cities since most of the multinational companies have established their footprints in India which is invariably the 5th largest growing economy in the world. This has further fueled the development of large shopping complexes, malls, and high street markets which in turn has surged the demand for commercial space. Most of the demand in the residential sector is derived from the commercial sector. Our country has seen an enormous inflow of Private Equity Investments in commercial real estate in the last decade.

Commercial spaces can be further classified into 2 major segments.

Retail Space

This is mainly the space acquired by the showrooms, restaurants, outlets in the malls, and high street markets. Retail spaces command a very high rental value when compared to office space. The rental value is driven by the popularity of the locality. For illustration, the rental value of retail shops in high streets can sweep any one of their feet. Malls and large shopping complexes also command a significantly high rental value. Though retail space commands a high rental value, its absorption in the overall commercial space is very limited

Office Space

This segment has the highest absorption in overall commercial space. The demand for office space has been significantly increasing over the years and hence there is no doubt that this segment attracts most of the foreign funds. Office space generally comes in 3 variants.
Bare shell: Only stark walls with no fixtures. One needs to customize according to their requirement
Warm Shell: Comes with some basic fittings and fixtures, work stations with basic
Plug and play: They come fully equipped with the required fittings and fixtures, fully loaded work stations, broadband connections, air conditioners, etc. One can move into such space and start his work immediately.

The maximum absorption of office space is by IT/ITES followed by R&D , BFSI, telecom, e-commerce, and consulting is the other sector that contributes the balanced absorption.

The emergence of Co- Working

Co-working spaces are the newly emerging sector playing a vital role in commercial space absorption. Co-working refers to multiple offices sharing common space under one roof. Services like broadband, WiFi, housekeeping, cafeteria, pantry, etc are used in common. The objective of co-working is the efficient utilization of space and cost reduction. A large number of young entrepreneurs, startups, professionals, are moving towards co-working space to keep their operating expenses minimal. This segment is fast catching up and is slowly penetrating into tier 2 cities in India. The offshoot from Co-living working spaces is Co-living spaces which are again a new flavor in Residential Real Estate. I shall throw more light on this in my forthcoming posts.

The co-working segment currently forms the third-largest absorption of commercial office space after IT and R & D centers. WE WORK, An US-based company is a pioneer in the co-working business and has leased a large number of commercial spaces in leading cities across the globe. They now have a decent penetration in India as well. However, the current COVID crisis has dampened the sentiments in this segment as well and most of the companies including We work are now scaling down their space acquisitions plans and are rejigging their capital expenditure portfolios. Although there is a glitch currently, the segment looks to be very promising and has a long way to go in the commercial realty business.

Resurgence of Warehousing Segment

Warehousing is an old and popular segment in Real Estate. warehouse refers to go-downs where companies store their produce, goods, and commodities before they are moved out to the market for sales. Warehousing had a limited scope since the inception, However, it has now got a new outlook and is in good demand after the surge of e-commerce and multi-brand retail. E-commerce companies require large warehouse spaces to stock their products at various locations for the ease of distribution to the final consumers. Companies like Amazon and Flipkart are in the race to acquire large warehouses spaces in the areas of their operations. Multi-brand retailing companies like D Mart, IKEA, Royal Oak, Decathalon have already established their footprints by acquiring large warehouses spaces in multiple locations.

 Warehousing is now poised for growth and is looking to be a very promising segment in the future. Wear housing is the flavor of the day in real estate since the Private Equity investments in commercial and retail are no longer attractive due to yields. This segment is also likely to attract a good amount of Private Equity investments especially after the COVID 19 crisis, which otherwise would have been deployed in commercial and retail assets

Work from Home- A New Norm

Work from Home commonly known as WFH is presumed to be a way ahead for most of the IT and ITES companies and is most likely to become the norm of working which sometime back was tagged as a privilege or a perquisite to the employees. For IT and ITES companies, real estate is the second-largest consumer of cost after the employee salaries and perquisites. Hence the current COVID 19 crisis in a way has been a blessing in disguise to these companies since it has opened up the WFH avenues to their employees on a large scale. The IT and ITES companies are likely to capitalize on this opportunity and are now planning to deploy a large chunk of their workforce to WFH norm so that that they can cut down on their spending on acquisition and expansion of office spaces and also enforce a cut on the office infrastructure cost.

It is estimated that nearly 15-45 % of IT and ITES employees will shift to WFH mode going further. Ont the other hand employees are relieved from day to day commutation from home to office and vice versa. In metro cities, employees spend close to 4 hours in traveling to and fro to their offices grappling with the traffic and traffic signals. They can now utilize this time more productively. Most of the companies have already admitted that there has been a surge in their employee productivity under the WFH mode. Also, there have been either nil or very minimal glitches in the workflow which the companies were skeptical about a few months back when they were moving into the WFH mode on a large scale. Overall the sum and substance remain that since IT and ITES segments so far were the largest absorb-er of the office space, henceforth may no longer be an attractive segment for the developers and the developers need to scout for new segments to push their commercial inventory.
Also, there have been a series of recent developments where companies are vacating their existing offices and are moving to a smaller setup.

Ban on Chinese Apps- Boon or a bane

In one of the very latest national development where the GOI has banned around 59 Chinese apps will certainly be a big jolt for the commercial real estate segment. Chinese companies like Tik Tok, Huwaei, Vivo, Oppo, One plus and Redmi already have big established offices in India and have leased a fair chunk of office space in cities like Mumbai, Delhi, and Bengaluru. Among these companies, few were already starring at rapid expansions in India and were already scouting for large office spaces. However, after the recent government move, it is already learned that not only these companies have put their expansions plans on hold but also are mulling to exit their presence from sooner or later from the country. All is now depending on how the bilateral talks between both these countries shape up.

Revenue sharing model- Coming to the rescue

In this current changing scenario, for the tenants to stay buoyed, it will be the revenue sharing model that will come to the rescue. This will be a feasible solution going forward to keep the landlords and the tenant’s interest as well. Under Revenue sharing, tenants are not required to pay any fixed rentals but instead are required to share a percentage of their profits or net revenue after deduction of all other major expenses. So it will be a transition from a fixed income to a variable income for the landlords. However, they are at least assured of some income coming in instead of keeping their properties vacant and drooling for new tenants, while the tenants are relieved from their fixed obligations. The revenue-sharing model is currently the most accepted in the hospitality business. Also, many reputed developers have accepted this model in their mall leasing business which by and large is doing well. However, after this COVID crisis, this model could cascade down to office spaces as well.

The Outlook

The commercial Real Estate segment was looking very promising in India since it had only seen an uptick both in demand and supply over the years. However, the first 6 months of the present calendar year has not been appealing for the segment since the Private Equity and the Institutional fund inflow into the sector has dwindled drastically. Thanks to the extended lock-downs, the prevailing uncertainty, and the economy starring towards recession. Hence most of these Private equity funds and institutional funds are holding on to their plans on investment in the sector. The COVID 19 crisis has brought more pain to this sector and the pain is not likely to heal at least for the next 6- 12 months. The rentals on office spaces are likely to plummet by 5-10 % across all regions and all leading cities. This will result in reduced capital valuations of commercial assets. The office space absorption is also likely to plummet by a whopping 45 % this year. The retail expansion will remain muted for at least 6- 12 months because of the prevailing uncertainties. Large companies and brands have already put a hold on their capital spends and are now focused on a reallocation of their investment budgets into many effective resources. Overall it is evident that the commercial real estate segment which was riding high so far on attractive valuations and high rental yields has suddenly lost the glitter and is likely to feel the pinch of the COVID 19 crisis for many months to come.



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Rendezvous with Real Estate

Real estate is the most tangible asset when compared to other investment options like equity and mutual funds. The industry is more dominated by the unorganized players in terms of market penetration but organized players outperform in terms of transaction values The industry is capital intensive, contributes fair chunk to the GDP, and is a leader in providing employment to the unskilled class. As mentioned the organized players are the movers and shakers of the industry and control it thru a body called a CREDAI

CREDAI stands for the confederation of real estate developers association of India.

The body is represented by the forum of leading developers and it controls the affairs of the industry at Pan India level. The body over the years has come up with adequate checks and balances to ensure transparency and decorum in the industry.

Until 2016, the industry was reeling under the tag of unorganized sector due to its inherent nature of business and the absence of an active governing body. However the year 2016 has been a year of reckoning to the industry since the cabinet approved the long-pending and much-awaited RERA bill, more to the benefit of the consumers. Real estate regulatory act RERA is an act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. This act was wholeheartedly welcomed by the consumers, investor fraternity, and the developers at large since it mitigated the risks in investments to a large extent.

Real estate as Investment.

I am always in a dilemma whether to classify Real Estate under an asset class for investment since the primary purpose of buying it is for necessity. However it invariably turns into an Asset due to its inherent quality of value appreciation which is commonly referred as capital appreciation.

Capital appreciation refers to the increase in the base value of the property over the years. This surge in the value is a natural and a unique attribute associated with Real estate which is mostly the function of the infrastructure development in the locality or the region where the property is located. The better the infra development the more is the surge in the property value. This attribute is a clear plus and thus is a powerful driver to the Investors. Another powerful attribute associated with Real Estate is Leasing/ Renting. This can be commonly referred as ROI.

Leasing or Renting is a feature where you rent out your property for a fixed monthly payment commonly referred as Rentals. This provides a regular source of income to the property owner. Most of the landlords in urban localities thrive on these rentals since it provides a stable and regular income for them. We shall understand more on the rental yield in my forthcoming topics in reference with commercial properties.

Real estate as an Asset Class.

Real estate had been the only asset class available for investment for decades after gold. As years passed we were introduced to other various avenues of investments like equity and mutual funds. These new avenues brought a great disruption in the capital markets as a lot of small investors got easy access to them and invested in small quantities. Not only the return on these investments was good, but they were also very liquid in nature and easy to liquidate in open markets. However these new avenues were not able to take away the glitter and shine from real estate since they were highly volatile in nature and ravely exposed to the economic perils.

There have been times when I had this tough task to educate my clients as to how real estate investment will rank higher than the equity. A human mindset always craves immediate returns and seldom one has the patience to wait for a longer horizon. Giving due Respect to equity and mutual funds, giving to their inherent liquid nature, I have always hailed my clients to keep them in their portfolio along with at least couple of Real Estate investments which are designed to outperform in times when other investments could be of a little rescue, especially in times of economic slowdown, recession, etc.

While I may not be able to draw a comparison on the ROI-Return on Investment of each asset class in this section, the underlying factor is one needs to look at Real Estate as a holistic investment, not just weighing it on the returns and liquidity. I am stressing on these two components since there have been a large number of critics with real estate investments mainly with the returns and liquidity. As there is a flip side to every story, this category also has a fair share of it. However I am always convinced with the fact that Real Estate is tangible, and owning something of tangible nature of bigger value will always put you on the driving seat. There is very little space for regrets in this class of investment.

Moving forward let us now understand a few key factors, that one needs to understand while making an investment in Real Estate. These factors have evolved more out of the practices and have proved relevant in making wise decisions.

Developer Equity

Developer equity speaks about the trajectory of the projects which are under construction, completed, and delivered on time by the developer. A healthy trajectory signifies a better equity of the developer. One also needs to look at the product mix of residential, commercial, and retail in the overall developments. An ideal product mix also signifies a better equity throwing sufficient light on the overall yield and cash flows of the developer. Hence this becomes a key factor while choosing the right developer for the right property investment. We will have an elaborate discussion on this in my forthcoming blogs.

Financial Stability

Since I mentioned earlier that the industry is capital intensive, more the capital available, better the final product. The industry mostly leans on the sales receivables to meet on its capital requirement, however, there is an equal requirement of the credit from financial institutions to supplement the gap. Getting the right balance is always a challenge for most of the developers. The situation becomes grave when the receivables dwindle due to slow sales and institutions become reluctant to lend due to obvious reasons. It is this time when most of the developers succumb to the situation and put the customer’s interest at risk. Developers with good surplus and healthy finances will cruise thru these times and hence one needs to look at the financials of the developers with a fine comb before making a decision.

Multicity Presence

Looking for developers who have a multicity or multi-region presence is also a key factor in the filter process. Multi-city developers mostly are managed by professionals and are more versatile since they are familiar with the local laws of the region. They mostly operate on a large scale and many of them are pioneered in the development of large communities and mixed developments. Multicity presence if looked in isolation may not be a testimony to the developer credibility since most of such developers have defaulted big time and have jeopardized the interests of a large chunk of customers, however this parameter still needs to be looked at closely to have a deep understanding of the developer pedigree.

Legal Due Diligence

This forms the framework for any real estate investment and all the other factors are embedded within this frame. So it becomes inevitable for the framework to be strong and only then your investment is safe and secured. The legal framework concerning real estate especially in India is always considered to be built on thin air which basically means that it is not full proof and there are always some flaws existing. Much depends on the law firm which evaluates the title records of the project to its satisfaction and then ratifies that the property is legally safe and sound and clear on all aspects. Almost all financial institutions rely on these reports for financing the project. Hence the sum and substance of the legal framework lie on the reputation of the law firm or the advocate who ratifies the project and the Banks and Financial institution which pre-approve the project for funding the customers.

Statutory Requirements

Here I am referring mainly to the set of approvals that need to be obtained by the developer from the local in-charge bodies. These approvals are like ready reckoners and all the checkboxes need to be ticked for a project to be handed over. This factor nests under legal due diligence, but I am highlighting it separately because as a customer or investor, I can easily get access to this ready reckoner and I can myself check whether the project is abiding by the checklist. To name a few of them here are Commencement Certificate, Building plan approved by the relevant town planning authority, NOC from the relevant service providers like water, electricity, and sewage, and completion certificate. One needs to ensure that all the checkboxes are ticked to move the pon further.

Credit and Capital

Off late we often hear in the news about one or the other developer defaulting on his loans. This has become perpetual in recent times. Much has to be blamed on the economic slumber and muted government spending which has directly affected the industry. It is the survival of the fittest in the current times and the spree will continue till there is a spike in economic activities and government spending which will indirectly put more money into the consumer pocket for disposal.

As I have mentioned earlier capital remains the lifeline for the industry and most of this capital comes from the credit from banks and NBFC’s. Both these institutions have been thriving in the real industry for decades since the industry absorbs a large portion of the funds which are available for deployment. One comfort factor for the institutions to lend to the industry big time is because most of the debt is secured by 2times of assets which are pledged by the developer against the loan availed.

Albeit there has been a lot of filtrations in lending to real estate over the years invariably the sector is always in demand and the fund gets flowing thru one or the other means. As an investor it is always very important to know the exposure of the developer to the debt and understand the balance sheet in brief. This gives a quick glance at the developers’ financial health and will certainly be a good tool to access the risk associated with the investment.

If there is something to cheer about amid the avalanche of challenges in the industry is the slashing of the Repo Rates by Reserve Bank of India. This has pushed most of the leading private and public sector banks to reduce the Home Loan Rates to the borrowers. Another breakthrough by the Apex bank is linking the repo rate to the market securities and bonds. This will compel the banks to reset the home loan rates periodically in tune with the market and the benefit is passed to the borrowers without any glitches. The borrowers on the other hand can enjoy the benefit of interest rates thru reduced EMI’s.

Real estate and Taxation

Finally lets understand the effect of taxation and its benefits on Real Estate investments. Considering the high taxation rates prevailing in India, one always craves for ways and means to reduce the tax burden and increase their net earnings. There are lot of avenues given by the taxmen as tax savings instruments, but the biggest of them is the expenditure on payment of principal and interest on Home Loans availed for purchasing residential properties. This benefit is provided under the section 80 C of the Income Tax act and currently is the most sought of deduction by the majority of  Income tax payers in India. The salaried class are the big beneficiaries who avail this benefit since a major portion of their income is taxable. 

The IT deduction on home loans comes as a added advantage with Real Estate investments.                        


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Introduction

Hi, i would like to introduce myself as an professional with 20 + years of corporate experience primarily in field of sales and Marketing. Having started my career with an FMCG industry and after having a respectable stint there i moved to Banking and then to Real Estate. Today my longest bout has been in the Real Estate space and i take this courage to proclaim that i have imbibed a fair amount of knowledge and expertise in the Real Estate Space .


My Blog ‘ Brick and Mortar’ is a medium through which i want to share my knowledge and expertise with all of you. By and large, Real Estate industry still remains unorganized and there is a dire need for a fair amount of professional advise for the people who look forward to invest in this space. My en devour thru this blog is to enlighten people on the finer aspects of Real estate investments, key parameters to be considered before investing and to handhold them thru the entire buying process since most of the people find the investment process kiotic.

My blog ‘ Brick and Mortar ‘ also touches upon the critical factors that one can embrace to transform their house into a Home. These factors span from basic vastu to trending patterns in Interiors, designing and furnishings. Altogether one can lein on this space to get an complete insight of Property Investment and Management.

Finally it would be unfair if i am not expressing my gratitude to my family, friends and my comrades who have been a source of inspiration and force behind my efforts towards embarking on this journey of writing and sharing my experience. I remain indebted to them for their wonderful piece of advise and good wishes.

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