Wednesday 17 September 2014

Omaxe @28: Striving To Work Towards Housing For All



At the outset, I would like to congratulate all stakeholders of Omaxe for having stood through thick and thin and taken Omaxe to the height of glory where it is today. The vision of our CMD Mr. Rohtas Goel coupled with hard work and perseverance of one and all led to the emergence of Omaxe as a reliable and trusted name in the real estate sector.
The company has taken huge strides in the last 27 years. Filled with challenges and opportunities, we have faced every wrath with a confident stride; celebrated every victory and enjoyed the success of each one of us as if it were our own. 
Omaxe has all the earmarks of a trendsetter in the real estate industry. Every innovation, venture and strategy has been well thought out. Be it the strategic move to venture into tier II and III cities in latter half of last decade and creating and delivering lifestyle akin to metro cities. Omaxe has earned every bit of trust and respect that is witnessed today. We have delivered area more than the size of a few countries in the world; we cater to roughly 35% of India’s population in the 9 States that we operate in.
However, these are milestones that we feel proud of. But we have never allowed complacency to set in, striving each day to work towards the larger goal of providing housing to all.
Today, we are at an extremely exciting time. The Narendra Modi led Government has begun to show how good intentions and focused approach can result in fruitful action. His vision for India that we all have dreamt of seems very close to reality now. Focus on cleanliness, sanitation and hygiene; besides creation of smart cities and thrust on manufacturing and infrastructure has opened up lot of avenues for us to partner the Government. Blending social cause with business excellence in the regions of our strength is the way forward. 
- Mr Mohit Goel, CEO Omaxe

REIT in India: Is it the right time?


Good news for the cash-strapped real estate and infrastructure industry. The capital market regulator Securities and Exchange Board of India (Sebi) has just approved the final guideline for real estate investment trusts (REIT) and infrastructure investment trusts (InvIT).

The twin move will give the real estate and the infrastructure sector easier access to funds and create new options for investors to invest. SEBI’s approval for setting up of REITs is a timely move for the real estate sector as REITs have globally proved to be an efficient way of raising capital for the sector and providing an easy exit route to investors, also they can be well accepted by investors and provide better returns than other asset class.
In simple terms, REITs will channelize investments from wealthy individuals and institutions to the real estate sector through units sold by REITs. Like mutual funds collecting money from investors and investing in company shares and other financial instruments, REITs will invest money in the real estate industry. Experts believe that $10-$15 billion worth of investment will be infused into the real estate industry through REITs in a couple of years.

Political stability and the recent policy related initiatives have encouraged global investors who refrained before from entering the Indian market due to political, policy, governance and infrastructure-related issues to look towards India again for business activities. Therefore, it is indeed the right time to introduce REIT in Indian market as it will shore up liquidity in the sector and emerge as an alternate to bank finance. 
- Mr Mohit Goel, CEO Omaxe

100 Days of Government: Systemic Changes Visible

The election of a new Government under Shri Narendra Modi was met with renewed interest by the investor and business community. The people of India had elected this Government with a sense of hope and 100 days result is encouraging. Cynics might say 100 day is too short a timeframe but the systemic changes that the new Government is trying to bring about are clearly visible in the way decisions are being taken and the shape the country will assume in the near future.

Until recently, growth decelerated, buyers stayed away from the market and investment slowed. The policy reforms spelled out in the Budget like relaxation in FDI norms for real estate, huge investment in infrastructure, smart cities, bullet trains etc and moves outside the Budget like Jan dhan yojna etc. are correct moves. Good trade relations with neighbours is what the Government intends to maintain and the successful visit of Shri Modi to Japan seeking close to $35 billion investment goes to show the swiftness and positivity with which other countries have reacted to Modi’s vision and decisive approach to governance. Some bold decisions to allow 100 per cent FDI in railways and raising the cap of FDI from 26 per cent 49 per cent in defence and insurance are surely praiseworthy and will show results soon. REITs is yet another good move. Promotion of industrial development and growth of manufacturing sector by government will give a boost to Tier II and III cities, which in turn will lead to improvement in urban infrastructure and create more avenues for employment, income and lifestyle improvement.
- Mr Mohit Goel, CEO Omaxe

Omaxe Committed to Partnering Government in Development of Smart Cities

 
The improvement in the quality of life of our cities is need of the hour. The Government’s emphasis on creation of 100 Smart Cities will go a long way in ensuring better facilities and amenities. The Government had allocated Rs 7,060 crores towards developing smart cities and it will generate huge scope for private sector participation along with avenues for job creation. Prime Minister Narendra Modi’s signing of an MoU with Japan to develop Varanasi by using the experience of Kyoto, is just the beginning of a dream of 100 smart cities looking more achievable. Countries like Singapore have expressed keenness in this grand plan.

A smart city is one that completely runs on technology—be it for electricity, water, sanitation and recycling, ensuring 24/7 water supply, traffic and transport systems that use data analytics to provide efficient solutions to ease commuting, automated building security and surveillance systems, requiring minimal human intervention, and Wi-Fi-powered open spaces and houses that ensure always-on, high-speed connectivity. The Government has just released a draft note on Smart Cities and laid out a broad vision on what it entails. And the concept looks promising.

With majority of India’s population under 35 years, the scope, viability and need is immense. The growing migration will also be curbed with the development of Smart Cities. Complimenting this with the government’s stress on Sanitation and cleanliness of our cities and villages is a good move to change the outlook of the country


All modern amenities, education and employment opportunities are the building blocks of a smart city. For established cities to change the existing scenario will require greater efforts whereas developing tier II and III cities which are already undergoing transformation will be easier. Therefore government should concentrate more on these cities. Omaxe has been one of the first players to invest in development of tier II and III cities and our presence in 30 cities, out of which we have offered possession in 23 such cities encompassing delivery of 58.3 million sq. ft. only reinforces our commitment and strength. 

- Mr Mohit Goel, CEO Omaxe