- Records outstanding sales of over 175 crores in last quarter implying revival in real estate demand
Mumbai: Real estate developer Ekta World has peddled housing properties worth INR 175 crore between December 2016 to February 2017 and is expecting the annual bookings to close this fiscal year surpassing the INR 700 crore index, hammering the demand slowdown.
Since a decade, the company has witnessed a strong and sturdy client base and response for its luxury projects in Mumbai, Nashik and Pune. The company sold over 550 residences, across Maharashtra with price points ranging from INR 30 lakhs to INR 7.5 crores. The projects have witnessed a footfall of over 5000 customers amidst various sites throughout Maharashtra. The sale of affordable housing was further given a boost from the special scheme “Demonetization Ka housing Mauka” launched by Ekta World for its project Ekta Parksville, Virar and Ekta Greenville, Nashik. The drive behind the offer is to provide the potential buyers with an opportunity owning a dream house at an affordable price from a leading developer.
Speaking of the remarkable success, Mr Vivek Mohanani, Jt. Managing Director EKTA World, “We are happy with the kind of response we have seen from our customers. This is a very cyclic industry and the response we have received from the buyers is contradictory to the economic slowdown theory about the real estate segment. Ekta World believes in serving and providing the people with finest opportunities to own a luxurious residential apartment. With the “Demonetization Ka Housing Mauka” scheme we intended towards delivering the customers with luxurious housing facilities at an affordable rate. The strong performance demonstrates that the demand of housing in India is strong and the adverse effects of demonetization on the industry have surpassed getting the market back to the race course.”
Responding to the substantial facets of the recent budget announcement and policy changes, Mr Ashok Mohanani, Chairman and Managing Director, Ekta World said, “Our government has offered a much needed push for the Indian real estate segment. The infrastructural developments and affordable housing policies by the current government will prove beneficial for both the homebuyers and developers. The ‘Housing for all by 2022’ and ‘Pradhan mantri Awas Yojna’ has increased the confidence of homebuyers in the real estate sector post demonetization. The real estate segment is expected to have a major contribution in the Indian economic growth in the coming fiscal year.”
ABOUT EKTA WORLD:
The genesis of EKTA group dates back to the year 1987. Since then the company has grown from strength to strength, the group has built choicest residential complexes in the western suburbs between Bandra & Dahisar in Mumbai, the upmarket NIBM road at Pune and a global residential township near the heritage site of Pandav Leni at Nashik. With every new project, the group has consciously worked towards being more and more environmentally responsible. Quality is perhaps the most widely used terms, but EKTA World lets its standards do the talking. Famed for its thoughtful planning, marvellous architecture and excellent execution, the group’s success stories include Lake Homes, EKTA meadows, EKTA terraces, Lake Superior, EKTA Empress, Ecstasy I & II, & Eminente I & II, EKTA California. These are few of the landmark residences the group has built over the years.