Speaking on the current real estate affairs, Mr. JC Sharma, the Managing Director of Sobha Developers had a chit-chat with www.propertykhazana.com and shared his views with our reporter and below we present you the interesting facts revealed by Mr. Sharma.
Strategies worked out during the financial year 2011-12?
The realty segment underwent much crisis right from cash crunch, global recession and so on and being the branded name in the Bangalore realty arena, Sobha remained neutral as far as the investments concerned and did not go for increasing the land bank, instead reduced the debt and no new ventures were announced.
Sobha Developers witnessed a whooping 18% growth in the last fiscal and what’s up for the financial year 2012-13?
We will maintain the same pace like earlier and will launch affordable projects in numerous cities to achieve new heights.
Major sales come from Bangalore, and will this share reduce in future?
Sobha developed about 3.4 million sq.ft area of which 2.5 million is alone in Bangalore, foraying into other cities doesn’t mean that Bangalore will be ignored. In fact, Bangalore is needed with much more projects to cater the day-day raising demand.
Is the land bank of Sobha manageable?
At the moment, Sobha has a huge land bank exceeding 2500 acres, with over 850 acres in Bangalore, so there is no question of cash flow or liquidity crunch.
It is heard from different sources that the realty prices in Bangalore will start plummeting, is this true?
No way, one or the other factors keeps favoring the Bangalore realty sector, there are developments taking place at rocket speed and many are migrating from different parts of the country to the ‘Silicon Valley’, while the demand is increasing day by day, there is no probability of property prices coming down. People getting jobs of course need homes, he added.
For more and latest real estate updates browse www.propertykhazana.com.
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