Real Estate is a sentiment-driven sector, where market sentiments play a major role in defining its growth path. But when it comes to retail space, real estate’s one of the subsets, it is the market trends and projects that guide the sentiments. And, it is this difference that Ms. Asma Javed, in her candid conversation with Team RealtyMyths, explains to us. Ms. Javed recently moved to Gulshan Homz as Head-Leasing Retail Commercial, where she will take care of the retail leasing division. It was a pleasure talking to her. Here are the excerpts of the conversation.
RM: Gulshan Homes is known for its construction quality and is one of the biggest names in the NCR real estate market. What are your expectations from the company, now that you are a part of this name?
AJ: Well, Gulshan Homz is known for its impeccable delivery on time. Their work for almost three decades speaks volumes for itself. In this time maintaining the consistency and delivery of the project is the main goal with the right vision. At Gulshan Homz, we are Passion active!
RM: You yourself carry a robust experience in the retail market. How do you plan to further enhance Gulshan Homes’ name in the market with your experience?
AJ: At Gulshan Homz, I plan to bring best of my experience in terms of leasing, good brand mix, making our first retail -commercial project a complete success by devising a successful proven methodical approach which can bring the world-class shopping experience to the shoppers and convenience too. Since I have practically seen what works in a mall and what it doesn’t. The idea is to give a good experience to our customers under one roof and keep coming back to our property.
RM: Given the fact that the market is currently experiencing a lean phase, and many economic experts are sensing a start of economic slowdown, do you think you are going to have a difficult task in hand? How do you plan to overcome it?
AJ: Contrary to it, there has been sharp rise and improvement in the consumption pattern of Indians which has made the retail sector grow and the sector is expected to record a growth of $1.3 trillion by 2020. If this pattern continues then there is going to be a shift in consumer expenditure to $3,600 billion by 2020. Since the project delivery is aimed at last quarter of next financial year I don’t see many challenges, in the leasing of our project and at the same time, we carry the first-mover advantage of a retail multiplex commercial project. We have already partnered with Inox as our multiplex partner. We wish to expand our list with the best in the industry.
Further liberalization of FDI norms has given a boost to consumerism and factors like GST have given impetus to foreign brands who are greatly investing in Indian markets. As far as the lean phase is considered we focus on quality rather than quantity and delivery on time is our essence! You can overcome any difficulty if your approach is right at the right time!
RM: Though there were many MNCs that announced their plans to enter India when the government relaxed FDI norms, only a few actually rolled the ball. Do you think the government needs to address the policy issues to make the market favorable again? Are there any quick-fix methods that the government should look at?
AJ: The relaxation of local sourcing norms in FDI has definitely paved the way further for single-brand investment.Further Budget 2019 India: Large foreign corporations like Apple, Ikea, and H&M — which are eyeing a bigger slice of Of FDI Pie in the single retail entity.
Up to 100% FDI will be permitted in insurance intermediaries like distributors, against 49% now. However, Multi brands yet require a bigger reform. Coming to the answering of question the influx of brands have started with IKEA and one follows the other, things change with some time in retail. If Govt can further relax multi retail entries we might see more foreign labels however, a balance has to be reached.