With small steps and little victories, the journey of Shilp Group started on a humble note. Shilp means ‘craft’. The foundation of Shilp Group was laid when Yash bid in an auction of AUDA and bought a piece of land in 2004. Today, Shilp Group has proudly crossed the 45+ mark in construction projects which includes commercial, residential, weekend homes and industrial plotting. Shilp Group believes in moving with time and observing the market sharply before deciding on strategies. The group boasts of diversity in structures and caters to all segments including affordable, comfortable and luxury segments as well as niche office spaces that allow convenience and peace at work.
HOW HAS THE GUJARAT REAL ESTATE SECTOR EVOLVED IN THE LAST 5 YEARS?
In the last 5 years, real estate has witnessed unprecedented reforms across the country. Reforms like RERA, GST and demonetization have been instrumental in shaping the future of the industry. While these might have been witnessed as roadblocks earlier, the same have been considered as teething issues when looked at from a broader growth perspective. Gujarat is being increasingly recognised as the most sought-after market after the tier-1 cities. This is largely because of rapid industrialisation, sound infrastructure, great connectivity, and ease of conducting business. Despite the reforms and the pandemic that hit us, Gujarat residential and commercial sales have witnessed an upswing. Infact, according to a recent report by Knight Frank, Ahmedabad has been declared as the most affordable housing market.
WHAT ACCORDING TO YOU ARE THE NEW REAL ESTATE CLASSES EMERGING IN GUJARAT?
Gujarat has always been a land that has embraced newness and advancements. At the same time, developers in Gujarat have also been very dynamic to the needs and requirements of the public. The mid-housing segment is on the rise. Gujarat has seen a rise in the weekend home segment in the past few years. Along with that, affordable housing has become a norm which is re-ceiving a boost with the help of the various government schemes. REITs have also started to find a place in the real estate market and the coming few years can witness an upswing in that too. IT, ITeS and education companies are also finding ground in Ahmedabad giving boost to the co-working space culture.
HAS THE RBI REPO RATE HIKE AND RAW MATERIAL COST RISE IMPACTED THE BUYER’S SENTIMENTS?
The impact of the rising raw material cost has been borne both by the developers as well as the homeowners. From the real estate perspective, the hike in the repo rate does come as a hurdle to the homebuyers due the impact on home loan rates, but the effects of pandemic have accelerated home buying, hence, the hike might not be a severe deterrent to the buyer’s sentiments.
WHAT ARE YOUR SUGGESTIONS FOR THE GOVERNMENT THAT CAN BOOST THE REAL ESTATE GROWTH?
The real estate sector in India is contributing more than 7% to the Indian GDP which is expected to rise in the coming decade. It is also the second largest employer after agriculture. The sector has been receiving a push from the government in the form of various schemes in the recent past. More such boost is needed to reach the expected growth.
As a group, we have been producing great results and we look at going double in the next 2-3 years. We have already expanded to Gandhinagar and are looking to explore more geographies. Environmental conservation is another focus area for us, and we shall be focusing on going green. Giving more liveable spaces and making the city skyline more beautiful remains our aim.
Yash Brahmbhatt
