The group has so far completed 53 projects, in turn developing 30,78,247 sq ft of land. Among its key achievements is a 25-plot development at Suryoday CHS, Ambernath, which is said to be the biggest cooperative housing society in Asia.
Rahul Panvelkar, Partner, Panvelkar Group, who after finishing his M Com and a diploma in Marketing took over the reins of the company, in a candid chat reveals more about the dynamic group, some of their upcoming projects, the real estate and construction industry and more. Excerpts:
How is the real estate and construction industry doing post-recession
While recession may have affected a large chunk of the real estate and construction industry, it did not cause much impact on the residential sector primarily due to the fact that hardly any of it was exposed to Foreign Direct Investment (FDI) and the connected crisis.
How has it been for your group
We are doing some of the biggest residential projects in both affordable as well as high-end categories. Most of them are located in the rapidly developing but affordable suburbs of Ambernath, Badlapur, Kalyan, Karjat and Titwala as well as at premium realty destinations such as Pen and Pune.
Tell us about some of your major projects in the above mentioned suburbs.
Among our key ongoing projects are two water park-cumresorts at Badlapur and a corporate accommodation facility near Ambernath. One of our biggest residential projects is the Panvelkar Green City, which is coming up at Ambernath.
Give us more details on this project.
The scheme offers 2,000 1, 2 and 3 BHK flats of areas ranging from 600 to 1,300 sq ft. At Rs 15 lakh to Rs 35 lakh, this is one of the most affordable projects in the area in spite of offering unique amenities such as heritage club house.
Affordability seems to be a key factor of your project. Give us details on your other projects in this category.
Another noteworthy project in this category is Panvelkar Royal Square, which is coming up at Badlapur. The scheme has on offer 120 flats spread over an area ranging from 550 to 1,000 sq ft. Though as part of this project we are offering modern amenities such as modular kitchen, the price range is Rs 9.25 lakh onwards. It has received very good response and we sold 80 flats in just three days after launching the scheme.
Tell us about your offerings for the high-end segment.
As for high-end buyers, the group has on offer a bungalow project in Badlapur. Priced at Rs 35 lakh, the bungalows have on offer individual parking and garden facilities.
Are you offering any nano projects
We have a slightly modified concept on offer economy housing. Under this category, we are soon going to offer Panvelkar Complex, a scheme of 1 BHK flats. Spread over 500 to 900 sq ft these flats will be available at just Rs 8 to 8.5 lakh.
In order to keep the maintenance charges low, the sevenstoried complex will be equipped with amenities such as solar system, neon lights, grey / black water harvesting for maintaining garden, rainwater harvesting and so on. We are likely to launch it during the forthcoming festival season.
The suburbs are also seeing the trend of weekend homes. Do you have any schemes in this category
In this regard, a weekend plot scheme at Murbad is worth mentioning. Located in the vicinity of the picturesque Barvi Dam, this scheme, which was promoted primarily for investment purpose, was a complete sold-out within few days of its launch thanks to its attractive features.
Following its success, we have launched another weekend plot project to be spread over 57 acres and located very near the site. Here we also undertake construction of bungalows and weekend homes as per customers requirements.
Give us details on your company.
The company as you may know was started by my father. You may find it interesting to note that I began as the site supervisor on one of our projects and worked my way up to the present position rather than just taking over from my father. This simple approach has helped me understand the problems at the grassroots level and hence I am able to connect with everybody employees and clients in a better manner.
Few details on your family
These days, nuclear families are common, but we are a big joint family. This has not only helped us be in touch with each other on regular basis but has also benefitted our business. For instance, my cousin is having a building materials business.
Since this is a key ingredient for us it helps us get the best material at a lesser cost than the market rate.
Now we know why Panvelkars are one of the best when it comes to construction.