Ashok Kumar: There is a large potential for property business in India. The Indian market is not matured and has not been exploited as done in many parts of the world. Vast stretches of undeveloped land are available in prime locations in the metros.

What are your main activities?

Our main activity is real estate consultancy. We do not have funds to invest but we provide a platform for all those involved in the real estate business like land owners, land users, architects, developers, legal persons and others. There is a tremendous scope for this kind of service which needs high degree of professionalism.

Why did you enter the Indian property market when it was going through recession?

Recession time is the best time to enter this market because it gives sufficient time to develop client relation and understand the market as well as the local needs which benefit during boom times.

Who are your target clients?

Our target clients are the large land owners and land users. For land owners, we identify proper opportunities for land development based on our research reports. For land users, we find land availability and their requirement to suit their business strategies.

What prospects do you see in the property market?

They vary from place to place. In India, there is a wide variation in prices depending on the area. Mumbai can be divided into four major parts. South, central suburb, western suburb and Navi Mumbai. In these areas also there is a day-night difference. What could be right for one place may not be for the other place. There are places which may decline and others which may appreciate. In general, it seems that the market may remain stagnant for another six months to one year. Then, in most probability, it will appreciate.

What are your short-term/long-term objectives?

We have come here for long-term. We are not like fly-by-night brokers and want to provide long-time services to our customers. In the past, there were many fly-by-night operators who after selling their buildings disappeared. Our long-time customer service has helped us build worldwide reputed clients.

How is marketing in India different from that in other countries?

Marketing in India is very different from that in other countries. In fact, in any country, marketing systems have to be designed keeping in mind the local restrictions. In some countries, only lease agreement is possible because there, land ownership is not permitted. In some countries, foreigners are not allowed to own land. Therefore, marketing set-ups have to be made after considering local laws regarding land.

What are the rates of return on investment in different countries? And their comparison with India?

The rate of return in India is very good as compared to that in western countries or the US. There, it is only 2-3 per cent per annum whereas the return in India is very high at 10-15 per cent. But considering the rate of inflation, the return comes down substantially.

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