Chetan Kapur, Director, Golden Brick is qualified from University of Leeds in UK, 33 years old Kapur is heading Gurgaon based real estate research, consultancy and Services firm “Golden Bricks”.
Golden Bricks is dealing in retail, commercial and residential sector of Gurgaon from last 20 years. It is known for its exceptional professionalism and knowledge about the industry.
In an interview with TheGlobalRealty, Kapur elaborates on Gurgaon Real Estate Sector. Excerpts:
TheGlobalRealty:Real estate has suffered various constraints in the recent past. What are the prime reasons?
Chetan Kapur: Real estate has indeed faced many constrains in the recent past and one of the biggest is acknowledging real estate as a safe investment in comparison with other asset classes. Sure to some builders who have Major delayed projects, sold property whose Legal documentation are incomplete makes every investor question the first and paramount concern of safety of investment, another Major challenge is the lack of true consultation within the brokers in the real estate industry, very few brokers are there to guide the investors and the home Buyers genuine, unbiased advise which can lead to decision of choosing the right property As per the client needs, failure to achieve the same Leads to sale of wrong kind of property to the right person, where he exits or cancel the property mid way of the construction, which leads to cash crunch which ultimately Leads to delay in delivery. The first big challenge will hopefully sorted and taken care of when RERA is live from may 1st, the other challenge remains and need genuine thought and actions on.
TheGlobalRealty:Gurgaon is fast emerging as a global tech service hub even while the infrastructure is lacking. How can we make Gurgaon future ready?
Chetan Kapur: The reason we are super active in Gurgaon real estate is I see Great potential in the city real estate and have no question in the sustainable and continues growth of its the Real estate investment. Its not only the IT growth of executive jobs, its also the Major mid level and skilled jobs around Udyog Vihar phase1,2,3,4,5 and manesar, bhiwadi, Neemrana, basal etc, along with Great connectivity from Delhi and the airport.
To continue making Gurgaon better in the future and to continue Gurgaon as a preferred place to invest not only in the country but in the world, we need to do many changes like deliver the ever promised, long awaited proper world class infrastructure, better public transport, Great connectivity from nearby industrial and key cities. Once this is achieved then the Top fortune 500 companies of the world will continue expanding or laughing their process in Gurgaon which will lead to more jobs, more population and ultimately demand for more homes and office will rise. More organised and controlled body of real estate developers and brokers will also bring more transparency and trust within the investors, which is the foundation for any industry to grow.
TheGlobalRealty:What is the agenda of Golden Bricks in this regard? Kindly explain elaborately.
Chetan Kapur:The reason we 3 brothers started this third party brokerages services obviously once approved by our father Rajiv Kapur, is that we used to invest in the real estate properties and we realise 90% of the real estate bridge are purely acting as a sales agent to their preferred builder or developers, push selling properties to the wrong kind of investor, eg seeing homes to person looking for long term rental and selling shops to the home buyer for no reason but to earn commissions on that particular new launch property selling that time of a developer, seeing Dwarka expressway to a short term investor will only lead to trouble for both investor and Builder.
So we brothers saw an opportunity. How about launch a company which is more invested and home buyers driven and not be builder driven we choose the right set of property after many researches. Hand pick these best property top 5 each category example top 5 homes top 5 shops , to 5 service apartments, Rented properties. And then we shared those data with the investor. After fitting the projects or research team has filter projects and tag then As per the investor profiling like short term investor, long term investor and investing for rental income.
Separate Taylor made service for home Buyers where the properties are shared and filtered as per need and factors where home Buyers concerns are. Another advantage of golden bricks is we provide end to end solution for properties Buyers from finding the right project, striking the best deal, getting the lowest price, documents and ultimately Resale and leasing of the same.
TheGlobalRealty:In your view, do we need horizontal or vertical expansion of service centers like Gurgaon?
Chetan Kapur: Gurgaon is a millennium city, the current skyline is the very logo/landmark of Gurgaon, I personally believe like any metropolitan city in the world the expansion is either go up or go out, Gurgaon should definitely focus on talk building when it comes to commercial buildings and offices, it will give the city preference over other India towns and will attract top international corporates and huge job opportunities for the NCR population, when considering homes, NCR has always been find of low height homes and still prefer to live and buy low rise floors or apartments, I think if Gurgaon continues to expand horizontal and offer cheaper low rise homes, keeping in mind Aravalies makes Gurgaon vulnerable to Seismic waves, neighbourhood small towns like Sohna, bhiwadi etc will be a good idea.
TheGlobalRealty:How can Golden Bricks organize the unorganized Gurgaon industry? What should be the role of the government in this regard?
Chetan Kapur: An investment in a good property is every persons need and aspiration, The biggest gap I personally see in the usual real estate market is the need of professional Consultancy to the keen investors where they been advised the right type of investment, the right property so the investors get the what they aspire. We at Goldenbricks understand that and promise to bridge that gap. The second gap I see is the apprehension among the investors towards the actual delivery of the property, the fear of delay in actual genuine delivery and handover, to bridge this gap we do many research and validation’s before we actually start sharing projects with our investors. I really think if this trust is build within the investors and every gone buyer or investors start getting quality deliver on time, worth transparent Legal and financial commitment, this will lead to smooth run ahead for real estate investors.
Here Government plays an important RERA is something that is required and need more than ever, this week bring in the trust amongst investors, they will feel secure when investing in real estate, As they will make informed decision after understanding everything about the property, from Legal work, sanction plan, super carpet area efficiency, sure money with Escrow etc, the brokers will also feel the benefit of RERA as they will feel happy selling property of genuine RERA approved progress to their investors and the investors will make the right decision understanding every tiny little detail of the project, without the fear of miss sold or in in-informed
TheGlobalRealty: How does Golden Bricks envision the industrial hubs of tomorrow?
Chetan Kapur: As per our experience Gurgaon will continue to be an industrial hub of the country in the future as well, but the industries Will change from manufacture hub since 1980’s to corporates IT hub in early 2010 to Financial hub in 2016 , the kind of infrastructure and investment, Haryana government is planning to deliver in Gurgaon, Gurgaon is only going one place…Uttar Pradesh.