Tag Archives: rohtas goel

Leverage national brand with local flavor to win small town buyers-II

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By: Rohtas Goel, CMD, Omaxe

Rohtas Goel, Omaxe Infrastructure, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTrack2Realty Exclusive: In general branding in smaller towns is more focused on project. However, an equal emphasis on corporate branding should remain the strategy. It is very important to stress upon the brand to make the consumer aware of the strength of the company and assure them of the safety of their investment. This is where brand positioning is important in the initial stage. However, once the credibility is established, project branding assumes centre stage.

I would also like to clear the air around the myth that expansion in smaller towns affect the corporate image and brand premium in the metro cities. As a matter of fact, we consciously made a decision to tap this market due to the growing saturation in metros. And we have done much better than others in sales and enhancement of our brand image.

Today, we are one of the biggest players in regions such as Rudrapur, Indore, Lucknow, New Chandigarh etc. This move has only made us grow from strength to strength and since most of the products are bought by end users, the word of mouth publicity has only strengthened our brand.

Our strategy in small towns is to keep the local mindset and trends in vogue and adjust our marketing and advertising strategy according to the target audience. The line is thin and not as diverse since public consciousness is on the rise. The understanding of brands is beginning to grow in these regions and people have begun to identify brands on the basis of their past performances and financials and the quality of the product delivered.

In the initial stages the apprehension that the tag of being outsider would be a challenge, and hence the need for more aggressive advertising against the local players who command trust factor has not been on merit. In fact, this aspect has neither been witnessed nor experienced by us.

For any buyer who purchases a property, the idea of brand, quality and performance of the developer is more important than anything else. In a short span of time, we have made a big difference in these markets. So, the entire concept and supposedly hurdle of being an outsider was never a problem.

In a nutshell, I must say I personally work with the conviction that consumer intelligence is as sharp on branding in smaller cities as in the metro cities. Why I maintain this as a corporate philosophy is that every buyer is an intelligent consumer for us.

One is more interested in what we have to offer to them. Advertising, word-of-mouth buzz and personal relations do work, but in marginal proportions; what matters ultimately is the product.

Leverage national brand with local flavor to win small town buyers-I

Posted on by Track2Realty

By: Rohtas Goel, CMD, Omaxe

Rohtas Goel, Omaxe Infrastructure, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTrack2Realty Exclusive: When we moved out of the comfort zone of metro city, the first question people asked us was how can we meet up with the challenge of leveraging our brand positioning in other geographical markets? Real estate, after all, is a micro market business and branding the realty has by and large presumed to be a metro phenomenon.

Fact of the matter is that it has never been difficult for us. Being a national player with strong credentials, the brand name was enough to create confidence amongst buyers. Besides, we did some necessary brand promotions to create the comfort and trust among the people, especially in small towns where established regional players have penetrated the market very deeply.

Today, not only us but many national level developers are still commanding a brand premium even when entering into a relatively lesser known destination. The assurance of quality is a premium in itself that is associated with most of the national brands. We, as a listed company with a national presence, have the edge of our brand name that is duly recognized and has been widely accepted.

The fact that we have been in the sector for over 25 years is something that shows our tenacity and perseverance that guides us towards making substantial change in the lifestyle of the people in these regions.

The key challenge, however, has always been to position the brand in the right context in these not-so-brand conscious markets. And hence, the dynamics of advertising changes when entering into a new market as we have to address to the different audience and different markets.

The ability to connect with the local populace is the key and this is where local flavour, use of vernacular language etc plays an important part. Besides advertising, the products are planned and strategized in such a way that it is easy to understand and then make a purchase.

There is a general perception gaining ground in the metro cities that tier II & III cities more PR driven than advertising driven market. However, in my opinion it is definitely as much advertising driven as in the matured metro cities. Strong connect with channel partners also plays a great role. Advertisement remains the most effective form of communication. Their turnaround in sales is directly dependent on the way it gets communicated to the target audience.

In my opinion one should not have a straight jacket approach towards advertising, but a careful study of market dynamics and consumer behavior is what drives it. Moreover, local flavour is the key. International jargons and tie-ups also work in attracting customers to a large extent; they don’t quite translate into sales.

What ultimately matters is the brand equity and the quality of the projects. For example, our project in Vrindavan has the flavour of the region, its aesthetics and the ethos and history. The architecture, colours, name of towers etc have those flavours. The advertising and other marketing collaterals too have those flavours.

…to be continued

Omaxe Connaught Place in Greater Noida

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Rohtas Goel, Omaxe Infrastructure, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTrack2Realty: Omaxe and entertainment agency Wizcraft have associated for creation of a Special Theme Zone at Omaxe Connaught Place in Greater Noida. This Special Theme Zone will showcase a never-seen-before concept theme zone that is intended to not only entertain and excite but also educate and empower.

Spread over approx. 30,000 sq. ft., Wizcraft will conceptualize and execute these thematic entertainments that will cater to all age groups. With a blend of history and culture alongside modern-day attractions that will appeal to Kids, Gen-Next and elders alike.

OCP will emerge as a weekly hang-out zone for the fun and entertainment loving population of Delhi-NCR. OCP is also expected to become major attraction for adjoining cities like Agra, Mathura, Vrindavan and Aligarh and more importantly the ever-rising domestic and international tourists.

A footfall of more than 50,000 is expected on a daily basis. This association between Omaxe and Wizcraft will be yet another feather in the cap of Greater Noida, which already boasts of a superior infrastructure like F1 Track, Night Safari, and world class Golf Course, Education Hub, Yamuna Expressway etc.

Wizcraft is credited with live entertainment shows with Bollywood style musical “Kingdom of Dreams” in Gurgaon, IIFA Awards and the Commonwealth Games Opening & Closing Ceremony – 2010. Wizcraft brings with it the expertise and innovation required to take OCP to another level of attractiveness and emerge as a standalone entertainment provider in the region.

Commenting on the development, Mohit Goel, CEO, Omaxe said, “We are extremely happy to associate with Wizcraft to create something innovative and the next big thing for the people of Delhi-NCR. Entertainment brings happiness & rejuvenates human mind. We want to create something that matches the entertainment value of movies, creates excitement and in the process educates the visitors. Our target is to cater to the family audience. OCP is a place where ‘Family becomes Friends’. Besides entertainment, option of value shopping and office space will further add to its desirability. Slated to be opened for public in June 2014, OCP has already signed more than 100 reputed brands.”

Wizcraft Director Viraf Sarkari said, “Our association with Omaxe will help us diversify our entertainment bouquet across various cities in India. After the success of KOD, it was imperative to come up with something different in this part of Delhi-NCR and OCP is nicely positioned and located to attract visitors from all age groups including tourists.”

Tier II and III cities have rewarded the first movers-III

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By: Rohtas Goel, CMD, Omaxe

Rohtas Goel, Omaxe Infrastructure, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTrack2Realty Exclusive: With realty being a micro market driven business and land a state subject, dealing with the government machinery has a different challenge in many of these cities.

There has been a unanimous demand from all players about certain amendments in the way real estate sector, despite being the second largest employment generator, is dealt with.

For speedy execution, a single window clearance mechanism has to be devised. The sector must be given an industry status for easy financing. The real estate and land acquisition bill though deals with some bottlenecks, but an exhaustive look by the government into the sector is necessary.

However, it would be a fallacy to believe that developers are venturing into tier II and III cities for better returns or metro market is getting too competitive for survival. Every project may not be able to fetch better returns if quality and delivery as promised is not given.

Those who understood the potential and opportunity these cities provided entered this segment. It was challenge to change mindsets, but we have been successful.

Moreover, the brand consciousness of a realty company comes from the user experience and hence we never felt scaling down to venture into these cities. In fact, we took a conscious decision to enter these cities. A company must have a varied skill set and expertise to deal with different types of housing that they provide.

Initially many people believed that real estate is a micro market business and foray into other cities may backfire. However, for us it was not something to manage, rather we consciously decided as we were determined. Consistent market research, interaction with people, understanding their needs and surveys and research helped us in understanding the demand pattern of these cities. This helped us in creating projects that was up for grabs and this pattern has been successful wherever we have our presence.

Another apprehension has been that real estate in general depends on the overall economic condition of the given market, and many small towns not having vibrant economic centres.

This perception has been borne out of the fact that we always tend to undermine the potential of these cities. Today, from realty to manufacturing companies to top corporate houses, retail etc have begun to open their units in these cities and the economic prosperity is very visible. Any demand for commercial or residential has a spill over effect on the other and this is what has happened in these cities.

We are still in an evolutionary process and there is no specific set that can be counted to as having more potential than the other in terms of the demand that exists in the given market.

Different cities have different income groups, accessibility factors etc that determine demand. However, it is just about the first move – and the rest and success follows. Those who made the first move have been duly rewarded, whether the entry to tier II and III cities have been by chance or by choice.

Tier II and III cities have rewarded the first movers-II

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By: Rohtas Goel, CMD, Omaxe

Rohtas Goel, Omaxe Infrastructure, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTrack2Realty Exclusive: Property market in India is no more metro centric as major national players have already made an entry into tier II and III cities across India. An extended period of high interest rate have dissuaded buyers in metros to move towards more affordable housing in tier II and III cities, as these cities have the potential to fetch higher rentals as well.

The premium on houses in these cities also, of late, has been good. Besides, in cities closer to metros, for example Bahadurgarh, where there were not enough housing, but immense industrialisation, people used to commute from rented accommodation in Delhi. But now, things have changed. Bahadurgarh has emerged as one of the most attractive real estate destinations with people prefer to commute from their self owned homes.

Apartment culture is new in many of these cities and plotted development has historically been the trend. That trend is changing as our experience shows how different cities have and are responding to varied mode of housing.

Like for example, Punjab responds more to plotted development and Ludhiana specifically to high-end luxury projects. On the other hand, there is a demand for group housing in Lucknow and Delhi, floors in Bahadurgarh and group Housing in Rudrapur. Our projects have been designed and conceived keeping in mind the demand scenario, taste and spending capabilities.

What actually is amazing, and not many people believed earlier, is that these cities are already brand conscious. Our entry into these cities was not offered with resistance. Being a national player, the onus was on us to maintain the kind of quality and customer satisfaction we have been known for and over the years, we have delivered on these.

Though I feel the catalytic reasons for reputed developers’ entry into tier II and III cities have been low cost of land, increase in spending capacity, faster execution of projects and ultimately the demand for a better lifestyle. However, the emerging trend of nuclear families have necessitated more dwelling units and the desire to work near one’s home due to more employment avenues are also reasons strong enough.

What makes the property market of tier II and III cities unique is the fact that these are more end user than investor driven and hence less demand & supply mismatch. This is a major reason why there is huge demand for projects. This also helps in fast increase in habitation in these regions, thereby speedy progress in infrastructure development.

…..to be continued

Tier II and III cities have rewarded the first movers-I

Posted on by Track2Realty

By: Rohtas Goel, CMD, Omaxe

Rohtas Goel, Omaxe Infrastructure, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTrack2Realty Exclusive: It is true that the property investment pattern of young professionals is changing as they are no longer demand drivers of metro property and want to invest in tier-II and III cities.

This is a positive trend considering the swiftness with which these cities will become advanced and modern. It also ensures a holistic growth of the property market across the country as it is no more confined to a few select metro cities. India is, no doubt, poised for urbanisation across the length and breadth of the country.

However, the sky rocketing property prices in metros is primarily a reason why people have been looking towards these cities, where affordability is one big plus point.

Besides, since corporate etc too have been moving into these cities, more employment opportunities are being created and there are more end-users than investors.

Also, traditional homes have begun to give way to group housing projects with facilities akin to metros like swimming pool, gated community, spa, gym and so on. Migration from villages into these cities has also propelled demand in tier II and III cities.

Young professionals are also investing more in commercial realty, of late for better returns. Young professionals look for higher returns in any investment they make and this generation has gone far ahead of what traditional investment offered.

It is because of this shifting trend that investment in property has picked up again after a brief lull during 2008-10. We have no data to substantiate their interest in commercial over residential.

This is a myth that reputed developers getting into tier-II and III cities will sky rocket prices in these cities. They are moving into these cities majorly because developers realise the spending capacity of these cities. No developer wants to create inventory.

All desire to have a full-fledged township where there are enough habitation and infrastructure facilities. Besides, land prices are comparatively cheaper and that is a major reason why actual cost of the property is not too high, yet.

The developers who realised the potential of emerging cities are already there for the last 4-5 years and at this point of time, most developers are giving possession of their projects; in places like Sonepat, Rohtak, Palwal, Indore etc. New players are entering these territories now.

…..to be continued

Fitch finds India’s real estate outlook negative for H2 ’12

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fitch ratings, india real estate news, real estate news india, india realty news, realty news india, kumari selja, rohtas goel, Kapil Sibal, sonia gandhi, rahul gandhi, manmohan singh, Unitech, DLF, india property news, property news india, naredco, affordable housing, government of india, ndtv.com, ndtv, zeenews, aajtak, times of india, hindustan times, indian real estate forum, indianrealestateforum.com, indianrealtynews.com, cnn-ibn, rajdeep sardesai, sagarika ghose, vinod dua, arnab goswami, barkha dutt, raghav behl, prannoy roy, vikram chandra, ravi sinha, track2media. track2realty, DDA, delhi real estate news, new delhi, K.P. Singh, Rajiv Singh, Sharad Pawar, Jairam Ramesh, CBI, DB Realty, LavasaFitch Ratings says in a new report that the Rating Outlook for the Indian real estate sector continues to be Negative for H212, due to persistent sluggish demand, high construction costs and liquidity pressures.

Given Reserve Bank of India’s caution on interest rate cuts, high equated monthly instalments (EMIs) will continue to be a deterrent for potential home buyers. This, together with high property prices and elevated inflation will keep demand sluggish.

However, y-o-y growth of home loans by banks – which had been slowing for the 12 months to April 2012 – picked up markedly in May and June 2012, and if continued may help spur the sector.

Slowdown in the economy and subdued job growth in the IT sector, which was at its lowest quarterly level in Q212, will hold back demand for commercial and retail properties.

Real estate companies will continue to face margin compression from high construction costs for both building materials and labour. From December 2011 to April 2012 the price of steel increased 13% and that of cement by 12%. Notwithstanding the trend of deleveraging since Q311, slowing demand, high costs and thus declining profits will keep leverage high for most real estate companies.

Reliance of real estate companies on operating cash flow will assume significance in the near term as available funding options remain limited. Growth of bank lending to the commercial real estate sector was low at 1.5% y-o-y in June 2012. Except for some pick-up in private equity, other funding options are restricted. As a result, companies that derive significant revenue from lease rentals will have a more stable credit profile compared with their counterparts whose business model is based on outright sale.

Omaxe Infra receives “International Arch of Europe Award for Quality and Excellence” for 2012 in Frankfurt

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Rohtas Goel, Omaxe Infrastructure, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyOmaxe Infrastructure and Construction Limited (OICL), a subsidiary of Omaxe Ltd. received the “International Arch of Europe Award for Quality and Excellence” in Gold category for the year 2012 for showing commitment to quality, exemplary leadership and technology and innovation. The award was given at the International B.I.D Quality Convention at Frankfurt in Germany on Monday (April 30, 2012). S. P. Singh (President) OICL received the award from B.I.D President Jose E. Prieto.

The ceremony was attended by companies from 48 countries, together with leaders from different business fields, professionals from the world of economics, arts and corporate image, quality experts, as well as academic personalities and representatives from the diplomatic corps. OICL also received the Total Quality Management QC100 Model, which would help the company to improve business relation with other companies and sectors. The award recognises and encourages the contribution of companies and organisations to quality, continuous improvement and customer satisfaction as well as improving relations with employees, suppliers and all those associated with the company.

Speaking on the occasion, Rohtas Goel, CMD, Omaxe Group said: “It gives me immense pleasure on the landmark achievement of Omaxe Infrastructure and Construction Limited. This award has been grabbed in the previous years by most of the Fortune 500 companies. It is a remarkable achievement for OICL to have received this global recognition within five years of incorporation.”

SME has its own brand value to attract realtors

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By: Manu Sharma 

3rd of the series

Track2Realty Exclusive

- india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Delhi NCR real estate, Mumbai Real Estate, Bangalore Real Estate, Pune Real Estate news,Track2Media, Track2Realty, ravi sinha In commercial real estate there is a general marketing strategy to showcase brands that book the space. Will SMEs cluster give the developer that cutting edge? Realtors believe most Indian mid-sized companies have already emerged as recognizable brands. Companies such as Gati, Angel Broking, Samsonite, Tarz Lifestyle, Donear and other such companies are well-known; hence it is the facilities that the developer offers take precedence. They are looking for the best value for money; hence there is a pressure on keeping the prices competitive and facilities as attractive as possible.

The question is whether focus on SMEs reflects a negative outlook on the commercial real estate where market has got saturated for the developers. Mayur Shah, Chief-Sales and Marketing, Ackruti City outrightly rejects this theory. According to him the focus is now on every segment of the market, which is holistic and allows a developer to offer a choice of options. Market was never saturated. Absorption took a backseat when the economy was hit and expansion plans were put on hold. In fact in some locations commercial realty has done better than the residential markets. People have realized that to keep the economy growing and their own businesses flourishing, they have to expand and the recent reports on absorption is a reflection of this realization.

“Most of the banking and finance companies started small and have grown only in the last six to seven years, which is a revelation in itself. Some well-known IT companies have grown in size only recently. India has more than 5000 mid- sized companies and at least more than half started their businesses in the metro cities. So SMEs being only in tier II and tier III is a myth. The idea is to offer office spaces at the right locations and offer the right mix of floor spaces and amenities,” says Shah.