Real Estate Hour

Real Estate in India: Realty pioneers who transformed the sector

 

The real estate sector is one of the most globally recognized sectors. The Indian real estate market is slated to grow at 30 per cent over the next decade. The growth of this sector is well complemented by the growth of the corporate environment, and the demand for office space as well as urban and semi-urban accommodations.

According to a joint report by CREDAI and JLL, India’s real estate sector is projected to reach $180 billion by 2020 from $126 billion in 2015. Surely, realty in India is taking positive strides, but the effort some innovative realtors have put in is worth applaud. We bring you three such realty aces who have transformed the sector. Take a look:

  1. Chandru Raheja

Chandru Raheja is an Indian entrepreneur who transformed his family’s small scale property business into a renowned real estate group K Raheja Corporation. Under his leadership, K Raheja Corp has built several residences, offices, malls, hotels and IT parks. He has formed an alliance with the Servcorp, an Australian firm for providing serviced offices. He is a Forbes billionaire, with a net worth of US $2 billion.

Raheja’s real estate venture K Raheja Corp has been the lodestone to several innovations in the Indian realty. Apart from the fact that K Raheja Corp has been the first to initiate the concept of self-contained township and commercial business districts, ventures like Shoppers Stop, Hypercity and Orbit Malls are the highlights in the portfolio of Chandru Raheja. The company’s other projects like The Resort Madh Island, Renaissance Mumbai Hotel and Convention Centre, JW Marriott, Lakeside Chalet – Marriott Executive Apartments have brought in a new era in the field of hospitality real estate.

  1. Ajay Piramal

Ajay Piramal is one of the few business magnates in India who have succeeded in creating an empire that stretches throughout various industrial sectors. Under his leadership, the Piramal Group evolved from a textile-centric business to a $7.5 billion conglomerate with diversified business interests across pharmaceuticals, packaging, financial services and real estate.

Ever since its inception in 2012, Piramal Realty has been serving its customers with great commitment and responsibility. Ajay Piramal’s realty venture aims at providing its customers with quality and safe architectural designs. Some of the praiseworthy projects delivered by Piramal Realty include Piramal Mahalaxmi, Piramal Revanta, Piramal Aranya, Piramal Vaikunth, and Piramal Agastya.

  1. Vijay Wadhwa

Chairman of The Wadhwa Group, Vijay Wadhwa is another real estate pioneer who has made a major contribution towards the growth of the sector. Based in Mumbai, his real estate venture The Wadhwa Group is famous for providing Vaastu compliant real estate solutions to its clientele. Founded in 1969, the group has designed several innovative corporate structures for a number of Fortune 500 companies. The company’s notable projects include Solitaire at Powai, Aquaria Grande at Borivali, The Address at Ghatkopar, Trade Centre, Platina and The Capital in Bandra Kurla Complex, Mumbai.

 

Did you expect someone else to be featured on this list? Let us know in the comments section!

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