The Jain Group is one of the most dynamic and admired organizations in the Infrastructure, Finance, Hospitality and Real Estate sector in Eastern India. The Jain Group was founded in 1970’s the visionary Founder and CMD of the Group, Mr. Prem Jain, established its finance division, Jain Finance Corporation. In the Real Estate Space, the Jain Group is proud to be 100% RERA compliant, 100% GST ready, and completely focused on the development of quality and affordable lifestyle homes. Guided by this vision, fuelled by enthusiasm, strengthened by a strong dedicated workforce and advantaged with advanced building technologies, the Jain Group is committed to giving shape to the future of not just Kolkata, but many more cities spread across the country.
Q. How do you visualize the year 2022 for the global real estate sector keeping in mind the countering limitations and market challenges?
2022 will be an year full of optimism, to note that in the last 16 months real estate has only seen highs upon highs. The real value of homes and the real value of real estate have boomed immensely and the perception of the people has also improved.. I am very upbeat about the year 2022 as well as 2023. The limitations, in the public opinion, that we see today is largely mental, the covid crisis is long gone and the Global geopolitical tensions are actually an advantage for India. I cannot really comment that what will happen in the Russia-Ukraine crisis all the European energy crisis, but for a country like India, it's a Win-Win situation, at least from the economic standpoint. India will probably win a little or win Lots but I don't really see any e major issue that the Indian real estate sector will face other than obviously a much-awaited monetary and inflationary tightening.
Q. What are the new areas of investments and expansion Jain Group is considering for 2023?
As said earlier, we are very optimistic about the year 2023. There are several projects lined up in peripheral parts of West Bengal and North Bengal. currently, we are working on two Bungalow and 1-row housing projects within the city of Kolkata and Durgapur Respectively. We have one gated Township project that is soon to be launched in Madhyamgram. the market has enough velocity to absorb any new launches or any smartly priced real estate inventory that will be offered by real estate developers.
Q. Give us an overview of the company’s presence in the current market. What are your marketing plans?
The Jain group has completed over 3.5 million square feet and we have over 7000 happy customers. Within the industry, we have 40+ awards, and our real estate division is largely self-financed. We are very confident and upbeat about the future, the next 2 to 3 years belong to the most innovative and the fastest companies in any sector whether real estate or otherwise, the Jain Group aims to be among those, in the real estate and hospitality industry for sure. We plan to open 2 more 5-star Hotel properties, other than our existing Holiday Inn Kolkata Airport property. One Hotel opening is happening in 2023 and another one in third quarter of 2024.
Q. Going forward, what role do you see your organization playing in the future development of the construction & infrastructure sector as your company is one leading real estate group in India?
Our group specialises in Lifestyle affordable property in the fringes of West Bengal and Calcutta. We are proud to state that we are the market discoverers of several untapped markets and were among the first developers to enter the fringe areas of Rajarhat main road. Going forward our strategy is the same, to locate more and more projects in the fringe areas of developing and expanding microcity centres and to harness the power of population growth that Bengal economy as a whole has to offer.
Q. What is the market size of real estate industry India 2020-2030?
Real estate is, was and will always continue to be the first choice of investments and wealth maximization of the Indian population as a whole. Even today a majority of Indian Households, especially of the Middle Income Group invest most of their savings in real estate. We are on our way to become a 1 Trillion $ sector by 2030, the market size will only expand from here in on. To understand this trend, however, one needs to look at the Household Savings percentages and their deployment more closely. According to the ET-RE January 2022 survey, in FY2021 there has been a steady rise in Household savings, but simultaneously a dip in bank deposits and a huge jump in investments by household in the real estate and the capital market sector. The market share of real estate investments by Household event today is well over 65% and going forward I see the household investments not just flowing into the domestic real estate market in India but also in the Global real estate market. Today Dubai is a very popular real estate investment option for any Businesses or Households linked with the city or exporting to that city. Going forward I only see a rise in all cross border real estate investment avenues.
Q. What is the future outlook of Commercial Real Estate industry?
The commercial real estate has experienced very bad hit, firstly due to the covid-19 pandemic and then even at the end of the covid-19 lockdown, it could not be revived fully. The office absorption and the retail space absorption has been under pressure for quite some time. It would be very interesting to see how the commercial real estate sector responds to this growing crisis. There is a lot of home work and hard work that is still pending in that sector.
Q. Why it’s the perfect time to invest in real estate in India?
The perfect time to invest was five years ago, the the second best time to invest is today, six months from now November of 2022 would become the second best time and five years from now, those who have invested today will be considering themselves lucky and those who are still sitting on the fence would be regretting that the opportunity is lost. Today we are experiencing the same trends that we experience of a Recovery market after a massive downturn.
Q. Government has very ambitious plans of expanding real estate market as a way to boost economic growth under the ambitious ‘Pradhan Mantri Awas Yojana. What are your plans ahead in the government’s quest for creating better opportunities?
The Central government has a very ambitious plans and rightfully so, under the Pradhan Mantri Awas Yojana they have already provided households or directly or indirectly financed 1.2 Crore houses . 63 Lacs have already been deployed and handed over to consumers. Let me repeat that, 1.2 crore houses have been financed by the central government scheme from 2015 till date. that means slightly over 17.5 lakh houses are being financed each year . And we also have to note that two years in the middle of these past seven years have been lock down and pandemic years. This is no small task, great appreciation and gratitude should be given by the homeowners as well as by the real estate industry to the central government scheme of providing “housing for all”.
Q. How ‘The Smart City Project’ is a prime opportunity for real estate companies?
Smart cities project is definitely a prime opportunity for all real estate companies it is also another example just like the Pradhanmantri Aawas Yojana wherein the proactive steps of the government is benefit the entire economy of the country as a whole. By simply by creating an “ enabling environment” And removing any bottlenecks that may hinder the growth of such an initiative the government has done enough to boost this initiative immensely and to make the Smart City Project a humongous success.
Q. In what ways, the real estate sector is contributing to the country’s GDP?
The Indian real estate sectoral contribution is 8% of GDP today. The Real estate sector in India is expected to reach US$ 1 trillion in market size by 2030 according to an Ibef report, up from US$ 200 billion in 2021 and contribute 13% to the country's GDP by 2025. the real estate sector and its allied sectors is the second largest contributor of GDP in the country and its importance and effects cannot be underlined enough, the importance of this sector is hidden by nobody and there are several allied Industries that are thriving solely because of this sector.
Q. How do you envision growth for your company for the next five years and what are the future investments plans of your company?
As explained earlier the Jain Group is very upbeat about the hospitality and real estate sector in the coming 5 years. a minimum of 6 million square feet that is currently under development and will be delivered in the next three to five years. the sectoral demand and the growing importance of real estate will play a key role here. in terms of hospitality, character has always been a favourite destination with the business traveller, the hotel in terms of hospitality Kolkata has always been a favourite destination with the business Traveller the hotel Occupancy in Calcutta has always been highest solely because of the density of population and buoyant economy. the Jain Group is poised for Quantum growth and in due course of time, our plans Will Be unlocked and revealed to all our media friends. our plans for the next 24 months have been highlighted above.
Q. What are Jain Group's highlights in 2021 & 2022? What are the company’s hopes in 2023?
2022 especially has been phenomenal for us, we have 9 Industry awards and our total tally of awards other than those in 2021 and 2022 to date has risen to 40. but the awards mean little if not matched within equal if not more trust and Faith of the customer in our brand. that is our Group’s real award. Going forward in 2023 we are convinced that within the first quarter going to our new Madhyamgram project launch and opening of our new hotel property in Rajarhat we shall have a fabulous first and second quarter of 2023. our team is confident that 2023 size b the year of Super Natural growth and the year of covering up all the difficulties and losses that the Indian real estate sector has faced in 2020.
