Free Press Journal

Affordable housing is the future: Aditya Javdekar, Vilas Javdekar Developers


Aditya Javdekar

FPJ spoke to Aditya Javdekar, CEO & MD of Vilas Javdekar Developers, says that his company’s designs and method of construction are not only environment friendly but also simplistic in approach.

FPJ: What do you think about the market in 2015?

The market is reviving and is showing signs of recovery. 2014 was a very slow year for many micromarkets, but since prices haven’t moved up much in these areas in the last few quarters, the pentup demand is now ensuring better sales volumes on YoY basis.

FPJ: Do you feel single window system is a must and what are your expectations from the government?

I feel that the single-window is the most crucial governance reform that is expected out of the current government (both centre and state). We expect that a clear and simple single window clearance will be in place in the next 6 months. License Raj in Real estate is the real reason why prices have been too high for most common buyers and single window clearance will bring in price rationality in this sector.

FPJ: Will affordable housing be in more demand in the coming times? 

Affordable housing is the future and will continue to be the business driver for serious real state players for the next 15 years. Government has been trying to bring in ambitious policies like “Housing for all” and Housing Policy for Maharashtra,  but the implementation will depend on a lot of sectoral reforms in order for us to be able to deliver affordable and costeffective homes for the average Indian.

FPJ: It is said that there are a lot of vacant flats in the city, do you have a say on this? 

I don’t think there are many vacant apartments in the city. Some of them are vacant but sold to a migratory population who wants to make Pune their final home to settle down. The average unsold inventory in the city is about 15- 20% of the units currently under construction, and the inventory overhang is about 6-9 months. This is a sign of a mature and healthy market (without any price bubble). This market is ideal for all types of consumers (and not profiteers) … most projects are currently catering to the bracket of 40-70 lacs in Pune and there is a healthy demand for these homes.

FPJ: Do you feel that townships are the need of time and how long a developer has to maintain it?

I do not undertake township development model as I am a medium sized developer and cannot procure large parcels of land (i.e. more than 100 acres).

FPJ: Redevelopment has no option is it do you feel so?

I do not have any interest in redevelopment projects currently as the norms and development rules make this field quite difficult to earn any margins.

FPJ: What do you do in your free time? 

In my free time, I like to spend time with my family doing some outdoor activities and I also devote a lot of free time to CREDAI as I am National Credai Committee Member for Youth & CSR.

FPJ: Tell us about your hobbies? 

My hobbies are painting and reading.