“Our Philosophy is Exceeding Expectations Always”
Interview with Mr Amarjit Bakshi Founder and Managing Director, Central Park
What does a modern customer looks for in his dream home today?
The living space speaks a lot about individual taste and preferences. Noting can match the mental satisfaction of having a space of your own called home. Today’s consumer is more evolved than before and is not easily lured by the location proposition marketed by majority of the developers. We have seen a significant shift among consumers towards ‘Quality of Life’ as the top criteria while choosing a home. The consumer is more interested in knowing how much green area is there in the apartment, how far one needs to travel for day-to-day requirements, are there ample provisions for kids to go out and indulge freely in outdoor activities, places to unwind after a long week of work, adequate safety and security measures are in place or not. If all these are met to the satisfaction of customers, they do not mind stretching their budget to own such places as they know that it is a profitable investment being made towards living a quality life.
While the consumer looks for quality of construction, proper layout, quality of interiors etc., one of the biggest factors which influences purchase decision is the reputation or trust factor of the developer in the market. These are hallmark for all Central Park Projects and we feel very proud that we have been instrumental in creating a beautiful abode for our residents.
With RERA coming into effect, how do you see the market changing?? What is your take on this development?
For many years, the real estate sector was largely unregulated in India. The absence of standardization and poor consumer protection measures had constrained the healthy growth of the industry. RERA is a key reform measure taken by the government towards bringing more clarity and to ensure fair practices which will protect buyer interests. It will provide more teeth to consumers as it imposes strict regulations on the promoter and ensure that construction is completed on time. With the new regulation, a developer has to set aside 70 per cent of the deposits collected from a buyer in a separate account to meet the construction cost of the project.