Tell our readers about Sahiti Group? Kindly take us through your journey since inception. What have been your major achievements and challenges?
Sahiti Group is a leading real estate developer founded by Dr. Boodati Lakshmi Narayan in 2010. Since its inception, we have vested 20 plus taintless realty spaces in residential and commercial segments.
Kindly give some insights into your segment of operation in the real estate industry.
Sahiti operates in different segments such as commercial, retail, hospitality, and office space in the real estate industry. Currently, we are operating in residential transactions, offices, and retail spaces. We favor people’s perspective to invest in premium spaces to further grow their portfolio.
What are the major products and services? What is your geographical location?
Our prime location is Hyderabad and we offer premium and mid-range apartments. Among our products is The Srividya Ambrosia, where the primary configuration is 3BHK apartments which depicts a combination of contemporary design and luxurious lifestyle. We also have some upcoming projects in Vijayawada.
Share some data about your – market size, challenges, opportunities, key metrics, etc. How do you see the future growth of this market, along with your company’s growth?
Future growth of the market seems prominent. We get repeat businesses from our clients. Talking about the numbers; apartments range around 45L- 1Cr and Villas range from 2.5 – 3 crores. Growth is promised as the demand is high, and we are observing value prospects coming our way as we develop.
We have completed big projects in the commercial segment. These projects have enhanced our growth and made our prospects crystal clear. We hope that our growth chart will keep rising in the future.
Who is your target buyer? How would you pitch Sahiti Group’s value proposition to firstly the buyers, and secondly, the investor?
The target clients are working employees and business owners who are building their future homes, and are looking to expand their residential space. Our value proposition is that we aspire to create luxury living affordable by providing the finest quality of workmanship and customer service. With our investors, we pitch in our numbers.
We have developed numerous projects and reached the sale values of 170 crores post lockdown. We ensure that our track record is maintained and paints a picture of operation for the investors.
Your thoughts on the overall pandemic and how it has impacted the business ecosystem and buyer sentiments.
There is a big shift in clients’ expectations and buying inquiries. Earlier, they used to engage with real estate brokers, but now they opt for web inquiries. The channelization of inquiries through the internet has resulted in smooth operations and solution dealers have evolved with changing trends which give a state-of-the-art outcome to clients.
The pandemic has potentially blocked the flow of resources and routine supplies. Hopefully, we are in a growing sector and bouncing back is not a big challenge.
How do you see upcoming technologies such as Big Data, ML, and AI, are augmenting your market reach? Is Sahiti Group leveraging these?
Sahiti group targets to leverage the presence of digital space through digital ads and campaigns. The aim is to make a digitally-abled real estate body that educates the customer about the upcoming developments.
With the implementation of Machine Learning and Artificial Intelligence, we can perform digitized documentation that will improve our feedback system. Augmented Reality systems will enhance our customer experience with virtual site visits.
On which policy issues do you feel the industry players should come together? How do you perceive the threat from your competition? What is the biggest challenge faced currently by your industry?
I suggest big players of the industry come together on the topic of local tax. Considering Hyderabad as one of the lowest registration fee real estate sites in the country, we witnessed an increase of 1% to the existing 6% in stamp duty.
This hike will encourage buyers to invest in real estate. The existing policies in the industry should be amended and business policies should be included with flexibility for better operations. Also, enriching our existing equity options is something we could all benefit from.
Your thoughts on the upcoming union budget and expectations as a developer?
Government supporting operations for better business is always a plus point. However, governmental support into getting early project finance can prove to be lucrative; both for the developer and the overall Real Estate industry.
Besides, if home loans are made more accessible, the development of the real estate sector can be possible in an efficient manner.