Tag Archives: Bollywood Actor

Indian women storming into real estate-I

Posted on by Track2Realty

Shilpa Shetty, Bollywood Actor, India real estate news, Indian realty news, Property new, Home, Policy Advocacy, Activism, Mall, Retail, Office space, SEZ, IT/ITeS, Residential, Commercial, Hospitality, Project, Location, Regulation, FDI, Taxation, Investment, Banking, Property Management, Ravi Sinha, Track2Media, Track2RealtyTrack2Realty Exclusive: First influencers, then catalysts and now storming into what can be conveniently called last male bastion—Real Estate. Indian women have indeed come a long way to prove that a challenging job of realty business is not a taboo for them. Even some of the mothers have excelled in real estate along with the family responsibilities and upbringing of the children. Track2Realty takes a few of such Case Studies.

When the mother of a three-year-old baby Ramya Agnihotri (name changed on request) joined a Mumbai-based real estate company around 15 years back, her peer group looked down on her, neighbours had suspicion in their eyes and colleagues visibly uncomfortable in presence of a woman.

It took around a decade for this marketing director to scale up the professional ladder, but more than that the real challenge was to make sure she is treated on an equal footing as an employee, and not as a woman, and at the same time not to neglect the upbringing of her son.

She remembers how her protective management had pulled her up for taking a client out on a site visit in absence of male colleagues. Her role was supposed to meet clients and describe the marketing brochure only within the safe four walls of office. Ramya’s story is no different from other working women in the real estate sector, an area which in collective consciousness is still largely seen as predominantly a male bastion.

Take the case of Anuradha Gandhi, the Director of Property Solutions (I) Pvt Ltd, a Kalpataru group company where she is today leading the project management, facility management and mall management services of the company. With a bachelor’s degree in economics and an LLB from Mumbai University, Anuradha Gandhi is well qualified to face the multiple challenges of the real estate sector professionally, but the larger challenge at hand in her 12-years-old career has not been just professional competence, but not to compromise the upbringing of two daughters while taking up a demanding job of real estate.

“See, I come from a progressive family where I had supportive parents and encouraging husband, but looking back I feel time has really changed. Even in our organisation, now around 30 per cent employees are women. The best part is that I never got any discomfort in my organisation for being a female employee who is handling the twin challenge of raising up daughters and meeting deadlines,” says Gandhi.

But all mothers in the real estate didn’t get that comfort zone. Sonal Shrivastav, Head of Design Development with Mumbai-based PPZ, had to deal with lot of challenges on the job. She found that it is not very easy for a working mother to take up key positions in this industry, since the industry thrives on relationships, networking and contacts. She found it to be challenging for a woman to either stay late for dinners or to share a drink with a developer in the evening to build relationships. The same is true in cases where a bridge has to be built with some obligations or bribe to be offered in the municipal council to get plans approved. These realities put women on a back foot.

“At one point of time, I got an opportunity to work as a development consultant whose role starts from undertaking a full site and catchment appraisal to prepare a detailed design brief for architects and control the entire design development process and project team to adhere to this brief and vision of the developer. This process ensures that the project is sustainable from an operational and perspective and maximizes the potential of the investment of the owner. This kind of role is key to a project and allows for one to be an important team member in a project planning team.  Today there are many such opportunities in the real estate sector which would suit a woman and she would be able to add immense value despite the existing practical constraints,” says Sonal.

…to be continued

Shilpa Shetty enters realty sector with Groupco Developers

Posted on by Track2Realty

Shilpa Shetty, Bollywood Actor, India real estate news, Indian realty news, Property new, Home, Policy Advocacy, Activism, Mall, Retail, Office space, SEZ, IT/ITeS, Residential, Commercial, Hospitality, Project, Location, Regulation, FDI, Taxation, Investment, Banking, Property Management, Ravi Sinha, Track2Media, Track2RealtyTrack2Realty-Agencies: After making her foray into cricket with IPL Rajasthan team, Shilpa Shetty is once again entering a field dominated by men – real estate development. The actor has launched a company, Groupco Developers, in partnership with her friend and first generation entrepreneur Hem Tejuja, to develop housing projects in collaboration with land owners across the country.

“Whether it is an ad or a business it must be something I believe in. I cannot do something simply for the money. It must connect with me because I want to be a catalyst to make people’s lives happier,” says Shetty who already counts health and wellness, sports and entertainment in her business portfolio.

What connects her to the new business is her emotional connect with the middle-class and people’s aspiration to own a home.

“I have been very fortunate that I can afford certain things today, but deep down I am still a middle class person from Chembur and therefore I can connect with people’s dream of owning a decent house that is affordable,” she says.

The elegant dancer from Mangalore, who shot into international fame when she won the British reality show Big Brother in 2007, is a regular fix at the IPL matches of Rajasthan Royals team that she and her husband Raj Kundra own. Known more for her body, health and fitness, Shetty has already demonstrated her business acumen by running a chain of spas, monetising power yoga, and even launching a portal for group buying in the real estate sector.

Shetty has clearly come a long way from her days as a commerce student at Mumbai’s Poddar College when she thought her subject did not have much applicability in life. “I would ask my dad how trigonometry’s cosec and cosine would ever apply to my life? I guess it was destiny that after being an actor, I eventually became a businesswoman, which I think is what I was meant to do,” she says.

Groupco Developers is a 50-50 joint venture between Shetty and Tejuja, who is also a partner in her online property brokerage business. Shetty holds her stake through Kundra Constructions, a joint venture between her and husband Raj Kundra.

She is the chairperson of the company, which will follow an asset-light model wherein it will form alliances with local developers on revenue share basis, but keep majority stake with itself.

Tejuja, Managing Director of Groupco Developers, says a special project vehicle will be formed for each project. “Our local partner will be responsible for land parcels and approvals while Groupco Developers will execute the project and also market the same,” he says.

The first two projects will come up in Navi Mumbai and the ancient port city of Lothal (near Sanand) in Gujarat. It targets a revenue of nearly Rs 700 crore in the next three years through residential projects with total saleable area of around 1 million sq ft in Navi Mumbai and 150 acre project at Lothal.

Its Navi Mumbai portfolio includes a 75,000 sq ft project in Taloja, and another one in Kharghar with 60,000 sq ft saleable space.
Groupco is in talks to form alliances for three more projects in Mumbai Metropolitan Region and is looking for projects in Pune and Gurgaon.