Built Expressions Bangalore :: Radha Krishna

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Redefining the Realty Sector

Saket Group, Hyderabad

Real estate in India will have a substantial portion of growth at least for the next one decade. The rising demand for urban living has egged real estate players making their footprint in the major metropolitan cities. The constant growth in this sector, calls for a stiff competition among real estate players. Only an unremitting invention in the business approach can lead to a successful story in the market. This was aptly learnt by Hyderabad-based Saket Engineers (P) Ltd that was started in 1989. Hence, it had the right foundation with a winning element of being customer-centric approach.

Mr. Radha Krishna, managing director of Saket Engineers (P) Ltd says, "We understood the pulse and needs of the real estate arena even as we started the company. Our motto was to deliver projects within stipulated time, end users' requirements, adopting new technologies and being innovative in each project. We are building our business on these key ingredients and we have been successful." He is gung-ho about his gamut of experiences working in various construction companies, which led to the formation of Saket Engineers (P) Ltd.

Recalling the successful journey of Saket, he says, "Saket has progressed quietly for last two decades. Our focus on providing a better product than what was available in the market has helped us to sustain the growth. As developers, we have been exploring new concepts and innovative construction technologies, which enabled us to set benchmark."

Spreading the Group's Wing

Over a period of time, Saket has spread its wings in different components of the real estate domain. It has developed a brand image by building trendsetting concepts, with the introduction of integrated townships, gated communities, active adult retirement homes and high-rises to the twin cities of Hyderabad and Secunderabad.

Landmark Projects

Saket always aimed to be build first of its kind projects in the real estate Industry. It has been conceptualized, designed and executed one and only township project 'Saket Designer Homes Township' in the country on 35 acres to 100 acres and increased the same to 150 acres. This project was to construct customer’s choice with complete infrastructure and to their utmost satisfaction.

'Saket Mithila' is seamless first gated community comprising of 101 aesthetically designed independent duplex villas spread over 11 acres.

The exclusivity of these two Projects gave the group confidence to construct the project 'SAKET SRIYAM'. It is Andhra Pradesh's tallest residential twin towers of 25 floors', 3 levels of parking, multi storied residential complex consisting of 400 flats, with club house, swimming pool, built up spaces for convenient shopping, crèche and with many other such amenities. Despite the initial challenges of getting clearance certificate from Municipal Administration, Airport Authority and Fire Services, Saket Sriyam stood as one of the landmark projects for Saket. The Project has enhanced the group's credibility as they were again the first in getting approval for 25 Floors structured Residential Complex.

The experience and engineering standards set by the Saket Group in the above three Projects gave concept for construction of Project 'Saket Pranam' is an active adults housing project. It is a high-rise multi-storied residential complex with ten floors. It consisted of 333 flats inclusive of club house and other amenities.

Status of Real Estate Sector in Urbanised Area

With the increase in urbanization, the land availability has been limited mandating the real estate developers to go vertical. "Urbanization is closely tied to economic and cultural development. The majority of worlds six billion population is living in or near cities. This ever expanding large scale urban growth has created pressing need for more land. But land by itself does not grow; it has become a challenge for policy makers to balance between living recreations commerce and leisure areas. Since these are all in short supply, it becomes mandatory for developers to go vertical for holistic planning of vertical structures," opines Mr. Radha Krishna.

Ushering Green Era

'Green concept' is gaining momentum in the real estate sector and it has been well adopted by all builders. In India, the ‘green’ concept is absolutely critical. At the same time, it is a great opportunity and important challenge to do things in a sustainable manner. Huge responsibility is taken towards including sustainability in design process for making sure that product is sustainable. It has been an integral part throughout the history of Saket group. "Certainly, Saket will look for legacy of environment," he asserts. Saket has ventured into sustainable green Design Concept project SAKET BHU: SATTVA, Hyderabad - Gated Residential complex consisting of 600 exclusive Villas, inclusive of Club House, Recreational facilities and so on.

Affordable Housing

Affordable housing is the present buzz word in the real estate segment. According to him, housing choice is a response to an extremely complex set of economic, social and psychological impulses. Citing an example, he says, "Some households may choose to spend more in housing because they feel it as affordable, while others may not have choice. The commonly accepted guideline for housing affordability is housing cost that does not exceed 30 percent of house hold gross income. This is a very challenging expenditure for income ratio which is difficult in down condition. The government should formulate an affordable housing policy corresponding to that, the Real Estate market will respond favorably for the concept."

Transformation of Real Estate Market over the years

Being in the industry for more than two decades, Mr. Radha Krishna has witnessed a major transformation in the realty market. Observing the positive development in the industry he says, "A home is considered as one of the basic needs. A substantial amount of people are migrating from rural to urban areas, that in turn is increasing demand for residential space in cities. The younger generation is much more educated compared to earlier days and the income has gradually increased. So, the economic growth has made it possible for people to invest their money in real estate. With this trend in place, we believe that the future of real estate industry is promising."

Mechanization of Construction Industry

Construction industry is not a need of the hour but it is a need of every one. A person who has constructed a house on ground floor will definitely aim in near future for construction of first & second floors above. If he holds a duplex house then he will aim for purchasing a big land parcel and constructing a new house for himself and family.

Constraint of Labour Shortage

Construction industry is been witnessing a severe labour shortage. Expressing his views on the issue, he says, "Labour shortage tops the list of business risks for property developers and construction industry. After enduring the labour shortage, some developers have resorted to technology and moved towards prefabrication and mechanization process. Few developers have modified construction process so that it would reduce the number of skilled workers. The picture will worsen next year when government infrastructural projects are launched. This weans away labour from private projects to public projects and will affect Real Estate to its extent."

Going forward, Saket aims to foray into other states including Tamilnadu, Karnataka, Orissa, and Chhattisgarh with its core focus on building trendsetting concepts.

EOM

Box: The ‘Firsts’ of Saket Engineers (P) Ltd.