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While affordability remains a critical issue, Neotia emphasizes that evolving consumer preferences are steering the industry. “Post-pandemic there is a noticeable shift towards larger homes as families prioritize space for remote work and individual privacy. Today, even a single person prefers renting a larger home while saving to buy a spacious property later. It’s a generational shift in thinking. Features like dedicated work-from-home spaces, enhanced security systems, and efficient layouts are becoming indispensable as lifestyles transform,” he said.
Project That Brought Padma Shri
Udayan, Kolkata’s first condo Ville built on the PPP (Public-Pivate Partnership) model, made a good living ‘affordable’ for the first time in the country and earned Harshavardhan Neotia the Padma Shri in 1999. “The project, initiated in 1993, aimed to create balanced housing developments where low- and middle-income families lived alongside high-income groups. We involved renowned architect Balkrishna Doshi, who created a beautiful design that maintained aesthetic congruence between the affordable and premium segments,” Neotia notes.
A Green Vision
Sustainability in real estate projects in India is gaining momentum, and Neotia Group is not far behind. Neotia shared, “Sustainability is a recurring theme in our projects. The group prioritizes tree preservation, replanting, and landscaping to reduce heat build-up. Sustainable interiors include recycled materials and efficient airflow to lower air-conditioning needs. In our hotels, wherever possible, we engage in organic vegetable farming. We’re also using more recycled materials and incorporating green features into every project.”
Marketing In The Digital Age
According to Neotia, traditional media like print and hoardings have given way to digital platforms. “For a localized market like Kolkata, Print and Outdoor outreach provides a direct, cost-effective way to connect with prospective buyers. However, most buyers rely on recommendations from family or friends. A digital ad may catch attention, but word-of-mouth remains king,” he added.
Inspirations & Philosophy
Neotia’s inspirations are as diverse as his ventures, from family influences to collaborations with legendary architects like Balkrishna Doshi and Charles Correa. His admiration for Gandhi, Sri Aurobindo, and Rabindranath Tagore is further reflected in his ethos of blending artistry with practicality. “An entrepreneur’s true calling lies in finding their ikigai,” he asserts.
Kolkata’s Slower Pace Fosters Creativity
Neotia believes Kolkata’s slow pace fosters creativity, with more time for reflection and thinking that also permeates his projects. “We try to bring in elements that define the project as Indian, whether through colour palettes, landscaping, or art. These elements are part of what I would call the essence of our brand, or perhaps our unique way of doing things,” he said.
Padma Shri Harshavardhan Neotia, Chairman of the Rs 1,200 crore group, plans to expand his horizons, albeit cautiously. He plans to launch an IPO soon for its hospitality arm, Ambuja Neotia Hospitality. The IPO for real estate will follow.
