How Top Developers Are Meeting Diverse Market Demands
Meenakshi is a dynamic leader with over more than 14 years of experience in the real estate industry. She is an MIT College of Engineering topper and started her career in the IT sector before joining the family business. Meenakshi has significantly contributed to the Sales, Marketing, Finance, and HR verticals that drive the process-driven approach of the company. Under her leadership, Jhamtani Group has expanded its presence in the real estate market of Pune, with a focus on client relationships, operational efficiency, and innovation. She has been instrumental in the growth of the company by spearheading key strategic initiatives and building strong stakeholder relationships.
In the recent interaction with M R Yuvatha, Senior Correspondent, siliconindia, Meenakshi Jhamtani shared her insights on How Top Developers Are Meeting Diverse Market Demands.
As 2024 draws to a close, India's real estate sector is witnessing a remarkable growth period, with strong demand, investor optimism, and significant foreign investments driving the market. The market is changing rapidly with record office leases, decade-high residential sales, and rising consumer confidence. Top developers are responding to this dynamic landscape, meeting the diverse demands of both commercial and residential sectors, influenced by shifting economic factors, changing consumer preferences, and technological advancements.
Regulatory Challenges to Innovation in Urban Development
The current regulatory frameworks sometimes hinder innovation in urban development, especially where new materials, methods, or technologies are involved. Their degree of hindrance varies depending on several factors, such as the flexibility of regulations, the pace of technological advancement, and the specific contexts in which they are applied. The regulatory frameworks often lie on established building practices, codes, and standards. In such scenarios, new materials, construction methods, or technologies emerge that may not immediately fit the existing regulatory structure. In the case of urban development, it inherently focuses on aspects such as safety, public health, and environmental impact. This often results in regulatory frameworks focusing more on risk mitigation, thereby being harder to introduce untested or novel technologies.
Many cities are strictly governed by zoning laws and land-use codes to prohibit creative building designs or even alternative construction techniques. Costs in terms of time and dollars associated with regulatory compliance can often be overwhelming, especially for a small firm or start-up, making the task of complying with building codes, environmental regulations, and accessibility all more difficult. In some areas, there are not enough incentives to switch to new materials, methods, or a technology, which often makes it hard to force innovation in urban development.
Strategic Funding and Necessary Surveys for Real Estate Development
Companies like Jhamtani Group in the real estate sector, ensuring that securing funding does not constrain the scope or an innovative aspect of a project, especially when competing with developers who have access to larger financial resources, typically involves several strategic approaches that can be adopted.
• Strategic Partnerships and Joint Ventures
• Creative Financing Options
• Focus on Cost Efficiency and Value Engineering
• Brand Reputation and Market Positioning
• Diversifying Project Risk
Before initiating a project, a firm like Jhamtani Group (or similar construction and real estate companies) conducts geological surveys and soil testing as critical steps in the planning and design process to ensure safety, feasibility, and durability.
• Geological surveys involve studying the physical properties of land to evaluate ground’s stability and presence of resources and also geological hazards on the same. Site inspections and mappings are made that provide the data of land features, terrain, along with a geological mapping describing the distribution of different kinds of rock and soil alongside faults; sampling is another activity used for further, in-depth analysis of ground conditions.
• Soil testing determines the bearing capacity and stability of the soil to support structures. Tests such as the Standard Penetration Test (SPT), soil composition analysis, shear strength testing, consolidation and compression testing, and moisture content evaluation are conducted to understand soil behavior under load and environmental conditions, ensuring foundation stability and mitigating settlement risks.
Tech-Driven Collaboration in Urban Development
To enhance interagency collaboration on data-intensive and high-quantity projects, agencies need to focus on the following technologies:
•Geographic Information Systems: GIS manages, analyzes, and visualizes spatial information, allowing governments and developers to map urban plans, zoning, infrastructure, and environmental impacts. It aids in real-time collaboration because it integrates datasets such as transportation, utilities, and land use.
•BIM: BIM enables improved collaboration with stakeholders through 3D models to aid in better planning, designing, and management. This integration of BIM and GIS can ensure up-to-date, accurate data on urban planning.
•Cloud-Based Data Platforms: It allows easy, real-time sharing of huge datasets with no limitations by infrastructure to collaborate efficiently among urban developers and government agencies.
•Open Data Platforms: Open data initiatives increase transparency by providing accessible urban data for land use, transportation, housing, and environmental decision-making, fostering innovation and efficiency.
•Data Analytics and Machine Learning (AI/ML): AI and ML analyze large datasets, identify trends, and predict outcomes like traffic flow and public service demands, supporting informed, real-time decisions.
•Smart City Technologies (IoT & Sensors): IoT devices and sensors are used to deliver real-time data on traffic, energy use, and air quality, helping governments and developers plan and monitor sustainable efficient urban projects.
•Virtual and Augmented Reality (VR/AR): VR and AR present immersive 3D visualizations, enabling stakeholders to assess project impacts and integration with existing infrastructure before construction.
Building Trust and Leveraging Market Research in B2B Real Estate
Building trust and establishing long-term client relationships in multiple cultures and business practices is important to be culturally sensitive, communicative, and performance-driven. Top developers can do this by being aware of cultural differences, taking the time to understand the client's norms, values, and business practices and aligning with his communication and decision-making styles. Collaboration and trust are increased through clear and transparent communication channels, including early setting of expectations, regular updates, and cross-cultural communication training. Respect for other business practices and understanding of local norms, workplace etiquette, and flexible payment terms are good expressions of understanding and goodwill. Consistent high-quality work, tailored to local needs, ensures client satisfaction, reinforcing strong relationships over time.
Market research and data analytics are essential in B2B real estate investments.. They provide insights to make informed, data-driven decisions, which help analyze property valuations, risk, and trends to inform investment strategy. Data analytics enhances this with predictive models, strategy simulations, and portfolio optimization. These tools smooth out the due diligence process, improve operational performance, and ensure clear communication with investors by focusing on maximizing returns.
Looking Ahead
Integrating sustainability in design and construction involves putting environmental, social, and economic responsibility at every stage. Developers can adopt sustainability frameworks, use eco-friendly materials, and aim for green certifications like LEED, BREEAM or the Living Building Challenge. Focusing on long-term maintenance, educating stakeholders, and tracking sustainability metrics ensures continuous improvement. Post-occupancy evaluations further enhance the project's long-term environmental and societal impact.
In the recent interaction with M R Yuvatha, Senior Correspondent, siliconindia, Meenakshi Jhamtani shared her insights on How Top Developers Are Meeting Diverse Market Demands.
As 2024 draws to a close, India's real estate sector is witnessing a remarkable growth period, with strong demand, investor optimism, and significant foreign investments driving the market. The market is changing rapidly with record office leases, decade-high residential sales, and rising consumer confidence. Top developers are responding to this dynamic landscape, meeting the diverse demands of both commercial and residential sectors, influenced by shifting economic factors, changing consumer preferences, and technological advancements.
Regulatory Challenges to Innovation in Urban Development
The current regulatory frameworks sometimes hinder innovation in urban development, especially where new materials, methods, or technologies are involved. Their degree of hindrance varies depending on several factors, such as the flexibility of regulations, the pace of technological advancement, and the specific contexts in which they are applied. The regulatory frameworks often lie on established building practices, codes, and standards. In such scenarios, new materials, construction methods, or technologies emerge that may not immediately fit the existing regulatory structure. In the case of urban development, it inherently focuses on aspects such as safety, public health, and environmental impact. This often results in regulatory frameworks focusing more on risk mitigation, thereby being harder to introduce untested or novel technologies.
Many cities are strictly governed by zoning laws and land-use codes to prohibit creative building designs or even alternative construction techniques. Costs in terms of time and dollars associated with regulatory compliance can often be overwhelming, especially for a small firm or start-up, making the task of complying with building codes, environmental regulations, and accessibility all more difficult. In some areas, there are not enough incentives to switch to new materials, methods, or a technology, which often makes it hard to force innovation in urban development.
Building trust and establishing long-term client relationships in multiple cultures and business practices is important to be culturally sensitive, communicative, and performance-driven.
Strategic Funding and Necessary Surveys for Real Estate Development
Companies like Jhamtani Group in the real estate sector, ensuring that securing funding does not constrain the scope or an innovative aspect of a project, especially when competing with developers who have access to larger financial resources, typically involves several strategic approaches that can be adopted.
• Strategic Partnerships and Joint Ventures
• Creative Financing Options
• Focus on Cost Efficiency and Value Engineering
• Brand Reputation and Market Positioning
• Diversifying Project Risk
Before initiating a project, a firm like Jhamtani Group (or similar construction and real estate companies) conducts geological surveys and soil testing as critical steps in the planning and design process to ensure safety, feasibility, and durability.
• Geological surveys involve studying the physical properties of land to evaluate ground’s stability and presence of resources and also geological hazards on the same. Site inspections and mappings are made that provide the data of land features, terrain, along with a geological mapping describing the distribution of different kinds of rock and soil alongside faults; sampling is another activity used for further, in-depth analysis of ground conditions.
• Soil testing determines the bearing capacity and stability of the soil to support structures. Tests such as the Standard Penetration Test (SPT), soil composition analysis, shear strength testing, consolidation and compression testing, and moisture content evaluation are conducted to understand soil behavior under load and environmental conditions, ensuring foundation stability and mitigating settlement risks.
Tech-Driven Collaboration in Urban Development
To enhance interagency collaboration on data-intensive and high-quantity projects, agencies need to focus on the following technologies:
•Geographic Information Systems: GIS manages, analyzes, and visualizes spatial information, allowing governments and developers to map urban plans, zoning, infrastructure, and environmental impacts. It aids in real-time collaboration because it integrates datasets such as transportation, utilities, and land use.
•BIM: BIM enables improved collaboration with stakeholders through 3D models to aid in better planning, designing, and management. This integration of BIM and GIS can ensure up-to-date, accurate data on urban planning.
•Cloud-Based Data Platforms: It allows easy, real-time sharing of huge datasets with no limitations by infrastructure to collaborate efficiently among urban developers and government agencies.
•Open Data Platforms: Open data initiatives increase transparency by providing accessible urban data for land use, transportation, housing, and environmental decision-making, fostering innovation and efficiency.
•Data Analytics and Machine Learning (AI/ML): AI and ML analyze large datasets, identify trends, and predict outcomes like traffic flow and public service demands, supporting informed, real-time decisions.
•Smart City Technologies (IoT & Sensors): IoT devices and sensors are used to deliver real-time data on traffic, energy use, and air quality, helping governments and developers plan and monitor sustainable efficient urban projects.
•Virtual and Augmented Reality (VR/AR): VR and AR present immersive 3D visualizations, enabling stakeholders to assess project impacts and integration with existing infrastructure before construction.
Building Trust and Leveraging Market Research in B2B Real Estate
Building trust and establishing long-term client relationships in multiple cultures and business practices is important to be culturally sensitive, communicative, and performance-driven. Top developers can do this by being aware of cultural differences, taking the time to understand the client's norms, values, and business practices and aligning with his communication and decision-making styles. Collaboration and trust are increased through clear and transparent communication channels, including early setting of expectations, regular updates, and cross-cultural communication training. Respect for other business practices and understanding of local norms, workplace etiquette, and flexible payment terms are good expressions of understanding and goodwill. Consistent high-quality work, tailored to local needs, ensures client satisfaction, reinforcing strong relationships over time.
Market research and data analytics are essential in B2B real estate investments.. They provide insights to make informed, data-driven decisions, which help analyze property valuations, risk, and trends to inform investment strategy. Data analytics enhances this with predictive models, strategy simulations, and portfolio optimization. These tools smooth out the due diligence process, improve operational performance, and ensure clear communication with investors by focusing on maximizing returns.
Looking Ahead
Integrating sustainability in design and construction involves putting environmental, social, and economic responsibility at every stage. Developers can adopt sustainability frameworks, use eco-friendly materials, and aim for green certifications like LEED, BREEAM or the Living Building Challenge. Focusing on long-term maintenance, educating stakeholders, and tracking sustainability metrics ensures continuous improvement. Post-occupancy evaluations further enhance the project's long-term environmental and societal impact.
