Vaishnavi Group's Reputation For Delivering Excellence
CategoriesPress Coverage

DARSHAN GOVINDARAJU, Director, Vaishnavi Group, in an exclusive interview, talks “We’ve consistently majorly about their reputation of added to our rich roster of happy customers” delivering excellence, the huge base of happy customers and what sets them apart. Edited excerpts

For anyone, buying a house is an important life decision. So, what really motivates a customer to go for a purchase and finalise a deal?

 Today, more than ever, a customer is cognisant that who they buy from is as Important as what they are buying into. Customers are well informed and research extensively even before visiting the site. Therefore, what dictates the final decision to purchase a home is two-pronged. The first is the project itself such as the spatial planning. unit layouts, vastu compliancy, amenities, location and price. The second is the reputation of the developer. The customer recognises that ultimately a trusted and established developer is able to provide superior planning, greater quality, timely delivery and an excellent home-buying experience.

Vaishnavi Group has a very strong reputation of delivering excellence and the huge base of happy customers is testimony to this. So, what really sets you apart?

Over the years, we have consistently added to our rich roster of happy customers. Our staggering percentage of sales through referrals is a testament to that. Over the last 25 years, we have placed our customer at the heart of our planning and execution. High growth locations, efficient planning and expeditious delivery has set us apart. All our launches in the post-RERA era have been delivered ahead of our RERA commitments. 92% of our projects have been delivered 3-17 months ahead of our RERA commitment, including the disruptive years of Covid-19. In addition, owing to our decades of experience, Vaishnavi home owners enjoy greater realisation of space per square foot due to meticulous and efficient planning.

As a developer with years of market experience, what is your take on overall market sentiment? Where do you think it is headed?

The market sentiment is positive without any doubt. Inferring from the sales of 2022, we can see that the entire realty sector- commercial, residential and industrial-is on an upward trajectory. The sentiment especially in the residential sector is positive and buoyant with a decadal high closing of 215,000 residential units sold across the country. Bengaluru along with Mumbai contributed the highest number of sales (22%) across all the major cities of India. The same trend is largely expected to continue in 2023 owing to the relatively lower levels of Inventory overhang, a slew of new launches catering to the needs of the urban populace and a positive customer sentiment towards residential real estate as an asset class.

With the affordability factor dropping due to higher home loan rates and inflationary pressures, how is it affecting the luxury residential market?

The premium and luxury segment, in particular, has largely remained unaffected with the rising interest rates as customers are looking to invest in properties which provide them with a greater quality of living and offers them better returns as an investment. In fact, 19% of the total sales in 2022 are In the price bracket of 1.5 crore and above as compared to 10% the previous year. Backed by this strong demand, 47% of the new launches in Q4 have been in the price bracket of above 1 crore catering to the growing aspirations of the nation. As a leading developer in the residential space, we are witnessing increased traction from customers for properties across price segments which is a testament to the growing demand for quality projects from established developers.

Over the past few years, real estate prices have been on the upward trajectory reinforcing the idea that residential properties are a safe and smart investment option. This positive sentiment coupled with a new generation of smart homes catering to the urban populace is driving the demand for apartments, villas and plots alike across price segments. This is a direct reflection of the nation’s growth story and its citizens’ rising aspirations for a better lifestyle.


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