I had a very simple & basic Vision.
To create Value for common people having passion for change.
And to bring Equality in Education & Opportunity for the people of my country.
I believe that these above objectives can be achieved only by creating scaleable business model and keep innovating continuously therein.
Keeping these things in mind I always strive to keep innovating and creating new levels through my business.
THE JOURNEY:
* I wanted to be a Surgeon but unfortunately was not able to secure admission in Medical College in Mumbai due to limited seats.
* Got admitted in Degree course of Construction Engineering b'cos of my parents wish and I failed in 1st year & again in 2nd year and then dropped out as it became difficult to concentrate and clear exams. Engineering was not my cup of tea.
* During the period I failed in studies, my Dad made sure i go to a practicing architect so as to occupy myself for studies and not waste time hanging around with friends.
* I got fascinated with drawings & plannings and the way this Architect work and got to meet his clients and learn lots of business calculation. Having lost my opportunity of being a Surgeon i developed another passion in building construction.
* I declared to quit my studies and start construction but nobody supported my idea at home although my family was an entrepreneurial family manufacturing Textiles. Finally, i have to make my own way and i quit my study to start as a small time contractor without any money but with a dream to make it big someday.
* I worked hard as a contractor just to find enough money to start my own project. It took me around 3 years for to arrange things. And finally in the year 2003 we started a project in an upcoming area Kamothe, in Navi Mumbai.
* Few other projects followed in this region but as the land rates skyrocketed unexpectedly in Navi Mumbai it has become virtually impossible to maintain the same growth momentum, within few years the cost of FSI per square feet escalated from a mere Rs:100 to Rs:1200. Earning Rs:200 per sqft as profit was quite acceptable at that time which was 200% of the land cost. In the year 2005-06, inspite of having a profit margin of Rs:600 per sqft which was just 50% of land cost. The increasing land rates has become major concern and only benefited the investors but not builders and home seekers.
* At the same time the market was gradually growing, diversifying and maturing over the years and constantly offering unexplored markets and territories for developers and investors alike. As the Indian economy moves higher into its growth trajectory and further integrates itself with the global economy, planned and organised housing development across segments got boosted. I stumbled upon a mind boggling data about huge housing shortage in Affordable housing.
The housing shortage in urban India stood at 20.5 million as of 2010.
The housing shortage in rural India stood at 26 million as of 2010.
The housing shortage in urban and rural India will be around 21.7 and 19.7 million units respectively in 2014.
* This above scenario has prompted us to rethink, search and research and find a proper solution in order to maintain the growth and stay away from overheated locations, and it was that time that Govt. Of Maharashtra has come out with complete GR to build townships. I started exploring the possibility of building Townships of Affordable homes in emerging locations of Mumbai Metropolitan Region.
* We recognised the tremendous potential in the sector and had identified the areas to be in, which is still unexplored and untapped. Doing Integrated AffordableTownship Project allows us to benefit from economies of scale and brand identity, instead of doing several small untitled projects.
* The land rates near Kalyan on Mumbai-Nashik Highway (NH3) were quite reasonable and ideal for township project provided we get sufficient land. Identifying ideal location we started purchasing lands but we failed in acquiring substantial land there and life became difficult. But, the model i thought was great and had tremendous potential.
* After learning all the difficulties I identified another location and I tried again, this time successfully conveying 30 acres within 3 months and launched the project within 6 months. The project is known as "ShubhVastu Residential Township" at just 1 km from Vasind Railway Station. It has 1700 affordable homes, we also added more land for another 1300 homes in this project. The sales took off in Nov 2010 and we are proud to sell 50% within one year of launch. Almost sold out as of now and the construction in full swing we will start delivering homes from this December 2013.
* Many a small time investors who invested in my projects have become millionaires now.
* I also acquired land for a Bangalore based Pan India Developer VBHC having vision to create Affordable Housing throughout India. We helped them launch their Township Project in Palghar and Vasind.
* Moving forward from this point we wanted to create the next level, wherein we can have townships at multiple locations keeping the theme of Affordable homes in mind. India not only needs Townships like this but it needs 600 brand new cities to emerge as truly global developed economy.
* We are continuously identifying opportunities in this segment near Mumbai and gradually all over India. Each of the identified opportunities is equally exciting and forcing us to create value out of it. For this task we need likeminded and equally passionate people & organisations to join us, but this time we need our investors to stay with us till we grow the company and list it on Capital Market with successful IPO. In my continuos effort to realise my dream I keep meeting people, more so the one who are better than me & who help me raise my bar.
We are all set to create history now......
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