Known as “Builder Extraordinaire and as the Man responsible for changing the skyline of Mumbai with landmark project “Hiranandani Gardens” Powai, Dr Niranjan Hiranandan- Managing Director, Hiranandani Group believes that real estate has witnessed a paradigm shift in recent years with structural policy changes aimed at strengthening governance, regulation, transparency, accountability and promoting development.
He says, "Digital adoption, AI tools, MAR & AdTech integration has revolutionized the real estate industry modus operandi. The government impetus towards the development of mega infrastructure projects for establishing last mile connectivity is transforming the real estate landscape across geographies. Demand for real estate professionals in alignment with Industry 4.0 is steering real estate management education and sustainable development and green living are a new mantra to combat climate risk issues. Also, the blend of space and service model is picking up in the backdrop of enhanced customer centricity. The new asset classes like warehousing, logistics, industrial parks, data centres, flex space, senior living are gaining ground and attracting capital inflows globally as well as domestically. Automation is gradually intertwined in construction technology and data mining is a new bent. Shift in consumer mind-set and buying behaviour has led to innovation in product design and social fabric of amenities. The funding and development models are evolving in the wake of market consolidation trend."
In his initial journey in real estate the biggest challenges that Dr Hiranandani faced included fund sourcing in the beginning for huge acres of land acquisition, getting the relevant talent pool and industry know-how workforce which still persists as a skill gap issue and selling Powai as the new residential location in an innovative mixed-use township concept.
Fast forwarding to today, under Dr Niranjan Hiranandani’s leadership, the company is pivoting its footprints across newer geographies to expand its new business verticals. The group is also evaluating its foray in redevelopment and SRA projects for Mumbai & MMR.
Dr Niranjan Hiranandani is not only a successful first gen entrepreneur but, his leadership contributions have augmented real-estate industry position at macro level in India. He is also involved in social welfare work in higher education, skill development and healthcare verticals.