You have some high-profile projects under execution in Gurgaon and Delhi. Could you tell us something about them?
We are developing exclusive real estate areas called Chintels Metropolis and ChintelsCosmopolis. ChintelsParadiso, a group housing project is the first phase of Metropolis, a 400-acre plus development spread across three premium sectors of Gurgaon.
Metropolis also includes a 150-acre luxury integrated township called International City (being jointly developed by us, Sobha Developers and QVC Realty). We have partnered with real estate developer ATS to launch ATS Kocoon – a gated residential project in new Gurgaon comprising 444 apartments and designed by Hafeez Contractor.
Cosmopolis comprise high-end commercial, retail, hotels and high-street market. We recently launched Chintels Serenity, a project with nine exclusive residential towers. Our first commercial project, Chintels Corporate Park, was
again recently announced.
We estimate an investment of approximately `5,000 crore in developing nearly 1.39m2 residential and commercial projects in the areas of Metropolis and Cosmopolis along Dwarka expressway in both its Delhi and Gurgaon segments within the next eight to 10 years.
How will development of the Dwarka expressway prove to be a boom for the real estate sector?
The Dwarka expressway with its close proximity to the IGI Airport, Delhi Aerocity and the upcoming Diplomatic Enclave is expected to follow the same growth curve as premium Gurgaon locations like Golf Course road. With the increasing number of corporates operating out of Gurgaon coupled with the limited availability of mid-segment residences in Gurgaon and Delhi, Dwarka expressway is emerging as an attractive alternative for both investors and end users.
Considering that the real estate sector is at ebb, how do you market your projects to prospective buyers?
We are developing over 600 acres of selfowned prime land in Delhi and NCR. With the largest land bank in the area, all our projects are located strategically in areas where development is happening fast.
The development is only a kilometre away from the new Northern Peripheral road that is coming up and will soon be a primary link between Jaipur/Gurgaon and Delhi.
However, there are alternative routes to access project sites like ours via PalamVihar, Najafgarh and Dwarka. Environment-friendly features like solar street lighting, sewage treatment plant, extensive green spaces, water harvesting, fly ash concrete, orientation of buildings so that they require minimum air conditioning and have more natural light are some of the common practices we follow. You have ChintelsInfracon, a subsidiary contracting company.
You also announced plans to possibly diversify into electrical, interiors, metal and glazing products. How does that help your development plans?
We launched a subsidiary contracting company ChintelsInfracon to enable efficient backward integration for superior quality as well as efficient on-time delivery of real estate projects. It will initially manufacture CLC blocks for our ongoing projects but may gradually diversify into electrical, interiors, metal and glazing products. We believe that the growth of the real estate sector lies in backward integration. The Infracon was formed out of our aim to develop in-house capabilities required to deliver a project from concept to completion without relying on third party contractors. This will help us emerge as an end-to-end real estate provider taking complete ownership and responsibility for the quality and delivery of our projects.
The NCR region is seeing the emergence of some new-age customers. What are some of the conveniences you are offering customers?
All our projects are located strategically. We are selective in choosing our associates for development of our projects. Our projects are in line with our strategy of creating marquee projects, offering our customers the best value proposition and the pride of being a part of one of the region’s largest real estate developments in the recent times.
Considering that you have established your company in NCR, are there plans to expand business outside? What do you have in mind?
Right now we’re establishing our presence in the NCR region and making all efforts to fulfil our delivery commitments to our customers.
How do you see your company vis-à-vis the competition?
In spite of being a relatively recent entrant, our land bank gives us a distinct advantage as banks are comfortable funding our projects and customers are assured of clean titles. It also enables us to offer customers large scale selfsustained area development equipped with international quality infrastructure. Our tie-ups with partners like Sobha Developers and ATS who are known for their quality construction are also an advantage.
Lastly, could you tell us of innovations you have executed in your projects?
Across all projects, we focus on environment- friendly practices towards creating a green environment and as such are working towards achieving a Gold certification from LEED. Our projects have secured gold rating for rain water harvesting system, solar lighting and heating system for conserving energy and use of silent DG sets to eliminate noise pollution.