India has more than 20,000 startups and growing at an exponential growth. Everyone who startups up gets limelight if they are into technology, or use technology to solve a problem. Meet this enterprise that grew from a startup to a successful real estate business. We spoke to Sachin Bhandari, CEO, VTP Realty about his business model.
About Sachin Bhandari, CEO, VTP Realty
Mr. Sachin Bhandari is the Chief Executive Officer of VTP Realty, one of Maharashtra’s leading realty developer in both commercial and residential sector. His key role is to set a new benchmark in the real estate market and make VTP one of the largest developers in Pune.
With a career spanning over 15 years, Sachin has had successful stints in companies like Cummins India Ltd and ICICI Bank prior to joining VTP. At Cummins he was responsible for Sales and Marketing handled clients like Tata Motors and L&T. He implemented Oracle in Cummins sales and marketing department as well. Below is the interaction we had with him over email. Read Coverfox.com CEO Interview.
- Talk of the town, Real Estate Business will take a hit because of Demonetization. How is VTP coping up since there are some cash transaction involved?
This is a great initiative by our government and this breakthrough decision was the need of the hour. Banks will be flooded with cash which might result in them giving out loans at better rates.
In real-estate we do not foresee much of an impact in the market. In the long run, this will be beneficial as it will certainly bring in a lot of transparency in the dealings. For the developers who have limpidity in their practices will find it a lot easier. The affordable and mass housing segment may not see major impact of demonetization. We foresee the real estate sector being more lucrative and attractive to global investors. In summation, the organized real estate sector and the customers will definitely benefit out of it as it provides clarity in deals, this will be applicable for other sectors as well. We at VTP Realty welcome this decision and are looking forward for positive market sentiments related to the decision.
- Why does your business concentrate more on middle class clients? What are you solving for them?
We at VTP Realty, believe in catering to all sections of the society. We believe that the MIG sector is definitely upcoming in a city like Pune, especially since it is manufacturing and IT driven. With the young workforce being driven to Pune, it is more likely that they will look for properties in the MIG sector. Our projects in the MIG segment, have a lot to offer besides just the basic amenities. We focus more on maximizing the livable area and not just the saleable area offered. We lay special emphasis on quality, attention to details and transparency in our process and operations. Our three-tiered philosophy of better design, better build and better care makes us a buyer’s brand. We care more for our customers during and beyond the purchase of a new property and aim to become a dependable friend for them today and forever.
- Any chance that your business too can adopt an online wallet for faster transactions?
Online wallet for the real estate sector is not really feasible, the reason being that all digi wallet transactions have a cap limit of about 1 lakh rupee. Therefore buying/selling property through online wallets is not really feasible. But, transactions pertaining to booking amount, registration fees up to 1 lakh rupees can be done using online wallets.
The maximum permitted value of Transactions at any point of time in Paytm Wallet Prime Account is INR 1,00,000/- (INR One lakh only). The maximum monetary value that can be stored and utilized in a month in a Paytm Wallet Basic Account is INR 10,000/- (INR Ten Thousand Only).
- Are your current projects effected because of demonetization?
The transactions that take place in VTP realty are completely transparent. Like we mentioned before, this may lead to banks giving out loans at better rates. In fact, we feel that this will lead to clear transactions, honest dealings and will benefit both us as well as our customers.
- Anything else we should know about ?
VTP Group, a leader in construction material and construction, is a 30 year old trusted company having a pan Maharashtra presence. The Group has grown to become the 2nd largest distributor of cement in Maharashtra. VTP started real-estate development as a forward integration with VTP Realty, 5 years ago. They have grown tremendously and today projects in all prime locales of Pune. Some of their completed projects are Urban Senses, Urban Balance, Urban Nest, Urban Rise, Urban Life and Bhagyasthan.
We pride ourselves in delivering unmatched quality, attention to detail and transparency in our processes and operations. Our pioneering approach, rich history and focus on caring about our customers during and beyond the purchase cycle of a new homes makes us a partner of choice. We strongly believe in Better Design, Better Build and Better Care. Read more interviews of Indian Entrepreneurs.