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Mint Investment Summit - Real Estate: Finally out of the woods?
Panel discussion on numerous possibilities in the real estate world
Top business minds from various backgrounds come together to discuss the subject of real estate in India. The panelists will discuss 'Real Estate: Finally out of the woods?' Here are the panelists for the session:
Sanjay Dutt, Managing Director and Chief Executive Officer, Tata Realty & Infrastructure
Niranjan Hiranandani, Founder, Hiranandani group
Amar Merani, Managing Director and CEO, Xander Finance
Dev Santani, Head, Special Opportunities and Credit-India, Brookfield
Gautam Chatterjee, Maharashtra RERA chief
Kunaal Shah, Partner, Trilegal
Mohit Goel, CEO, Omaxe Ltd
The session will be moderated by Chintan Patel, Partner and Head, Real Estate at KPMG in India.
Here's what panelists said:
"The kind of downturn has taken a much longer, part of it is created by government, partly its due to environment and international and national market, the third is Coronavirus," says Niranjan Hiranandani, Founder, Hiranandani group.
"The demand has blatantly disappeared," says Niranjan Hiranandani, Founder, Hiranandani group.
“Even though there is a kind of pause…the residential demand has to come back, it is inevitable,” says Sanjay Dutt, Managing Director and Chief Executive Officer, Tata Realty & Infrastructure.
"In the history of India never before over 40 million sqft office space were absorbed in a year," says Sanjay Dutt.
"For me, real estate, overall, was never in the woods to begin with," says Sanjay Dutt.
"If you are not delivering, you are out of the market," says Mohit Goel, CEO, Omaxe Ltd.
"Real estate will be out of the woods if and only if there's some support from the government," says Mohit Goel, CEO, Omaxe Ltd
"Downturn is great opportunity to partner with right people," says Dev Santani, Head, Special Opportunities and Credit-India, Brookfield.
"The current debt has ballooned so much that there is no equity left", says Dev Santani, Head, Special Opportunities and Credit-India, Brookfield, says on challenges on refinancing
"It's a loss of confidence that has happened between finance world and the developer world," says Amar Merani, Managing Director and CEO, Xander Finance on what has changed in the last 24 months in real-estate.
"Presence of RERA is providing comfort to the customers," says Gautam Chatterjee, Maharashtra RERA chief.
"RERA is a very robust act," says Gautam Chatterjee, Maharashtra RERA chief.
"RERA brought in the old unfinished incomplete projects of the past and therefore, that legacy has continued with RERA," says Gautam Chatterjee, Maharashtra RERA chief.
"We need to invite a lot more equity capital from offshore to come into the real estate sector," says Kunaal Shah, Partner, Trilegal.
"The cost of doing business in India is very high. It makes real estate nonviable," says Sanjay Dutt, Managing Director and Chief Executive Officer, Tata Realty & Infrastructure.
If you don't have liquidity, the country is going to slowdown, says Niranjan Hiranandani, Founder, Hiranandani Group, at the Mint India.
"We have close to over 24,000 projects registered with RERA," says Gautam Chatterjee, Maharashtra RERA chief, at the Mint India.
"Accountability is fixed by the terms of engagement with the promoter," says Gautam Chatterjee, Maharashtra RERA chief, at the Mint India.
"People find opportunity in a dark situation," says Niranjan Hiranandani, Founder, Hiranandani Group.
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First Published:5 Mar 2020, 03:22 PM IST
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