Omaxe has today created a niche market
for itself. Its presence in Tier II & Tier III cities; markets where
leading/national developers were skeptical about venturing into because of a
host of factors, has seen Omaxe grow into a big name in these cities – having
built a reputation, provided quality construction and services and delivered
modern homes and lifestyle in these cities.
The recent RBI’s move to make city-wise classification of
affordable housing and periodically review its definition is a significant step
forward in boosting the real estate sector. The increase in cap of affordable
housing eligible for loan under priority sector was imperative considering the
rising prices of homes in the last few years. Homebuyers can now avail loans
easily and at a lower interest rate. As a result of this, a rise in demand of
affordable housing is imminent thereby leading to more developers focusing on
affordable housing segment and creating varied choice and ample supply in this
segment. In the next 9-12 months, inflation is expected to be reigned in and
interest rates are also expected southbound should benefit a lot of homebuyers
and reduce their EMI burden.
The RBI’s move coupled with the Government's various tax benefits
in Budget will spur demand in real estate and as a result help realize
Government’s vision of housing for all by 2022.
Omaxe has been operating at these price points in 30 cities and
with RBI's impetus, we plan for an aggressive expansion of existing projects. Our
offerings in these cities vary from townships, residential complexes and
commercial. With plots, floors, villas, group housing etc to choose from in
residential segment, Omaxe's first mover advantage into tier II and III cities
almost a decade ago will further get a stamp of enhanced desirability in these
cities.
In the last few years, post making a
strategic move to diversify into Tier II and III cities, the company has not
looked at entering new markets but instead focused on expansion at its existing
project locations. Nurturing, growing and adding newer facilities each day
remains its endeavour. And as a result of this strategy, the company, in its
city of presence, is today known for its modern homes at a affordable cost and
providing facilities that metro cities have – from sufficient open and green
spaces to clubhouses, parks, designated play area, sports facilities to name a
few.
Taking a cue from Omaxe, national
developers took baby steps and ventured into cities like Lucknow, Indore and
Chandigarh. However, areas that still have a lot of potential are alternative
cities like Bahadurgarh, Rohtak, Sonepat, Palwal, Vrindavan etc which are still
untapped and Omaxe’s first mover advantage has given it an edge over other
developers. There is something very unique about these markets – tough to
decipher for companies that doesn’t have a connect with the ground reality and
pulse of the consumer. Omaxe’s unique marketing strategies, varied options of
residential offerings coupled with affordability and strategic locations have
enabled the company gain ground in these cities.
2007-08 was a crucial year for Indian
economy and real estate companies in particular. While Metro cities were
beginning to show signs of pricing bubble-burst coupled with oversupply,
Omaxe’s foresightedness led it to venture aggressively into Tier II and III
cities, the results are visible for all to see – leader in its class, low debt
levels, excellent project delivery record, inhabited residential complexes and townships,
world-class homes, modern lifestyle with matching facilities etc.
Today, in cities like Bahadurgarh,
Rohtak, Sonepat, Vrindavan, Lucknow, Allahabad, Faridabad, Palwal, Ludhiana,
New Chandigarh, Patiala, Bathinda etc. Omaxe has created a name and has
aggressive plans going forward. Expansion of existing projects, adding new
lifestyle facilities is an endeavour the company is working towards tirelessly.
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