Vascon Engineers Ltd. is a leading EPC & Real Estate Development Company having projects in seven states of India. The company was incorporated on January 1, 1986. The company’s business segments include EPC, Real Estate Development, Hotel and Manufacturing & BMS. The company has executed more than 200 projects with construction area of over 50 million sq.ft.
- How do you see the real estate market poised in India Today?
Real estate & construction industry are playing major role in today’s economy.
- What’s your view on the Real Estate (Regulation and Development) Act?
The concept is good but need many corrections and we have given our suggestions.
- REIT and FDI, which will dominate the market for Real Estate and Infra projects over next 2 years?
FDI will dominate the market.
- Which segment, Real Estate, Commercial property or infra, do you think will contribute maximum, in revenue terms, over the next 2 years?
Real Estate infra work will contribute maximum in revenue in near future.
- Affordable housing is commercially viable?
Yes it’s viable if government gives express corridor for all approvals for starting the project.
- There is so much stress on luxurious lifestyle in real estate marketing these days, is that the only way to move ahead?
Yes presently the luxurious projects are not moving fast. But the market trend changes every 2-3 years.
- What is the key change you strongly feel that the Government must do in policy and permissions terms?
Government should follow one window approval with timeline for approvals. This would streamline approvals for the benefit of all stake holders.
- Is the industry facing shortage of skills? Which areas? How are the Real Estate players bridging this gap?
Yes presently skilled labour is a major issue in construction industry. We are educating and creating job opportunities for skilled labour. A more structured approach is needed.
- How do you think realty firms would benefit from government’s flagship schemes such as ‘Housing for All by 2022’ and ‘100 Smart Cities’? As Most residential developments continue to be in the premium and luxury categories. What happened to the concept of affordable housing?
Now the many developers are working on affordable housing projects. This is a major market that everyone is looking forward to.
- Do you see property prices coming down? If no, why not? If yes, how and when?
Property prices will not come down as the land prices, approval costs, construction cost are increasing day by day.
- What kind of projects are getting funding from investors these days?
Commercial as well as residential projects are getting funded.
- How is the outlook on Residential property in next 1 year?
We will see major growth in affordable housing.
- In the next two years, what are the two trends that will define the future of the industry?
Infra projects and affordable housing will define the future of the industry.
“Infra projects and affordable housing will define the future“: R. Vasudevan