JSW One Homes, the technology-enabled construction division of JSW One Platforms, on Friday said it was targeting a gross merchandise value of Rs 600 crore from Tamil Nadu by 2025.
The company after setting up its first Homes Studio in Coimbatore, inaugurated its second such facility in Anna Nagar, Chennai on Friday.
JSW One Platforms, a part of the JSW Group, is an e-commerce marketplace for small and medium sized manufacturers and contractors.
The newly launched 1,300 sq ft Homes Studio in Chennai would serve as a full-service emporium for all the home construction requirement for customers planning to build their house.
The customers would be able to handpick various home construction materials they wish to choose for building their homes at the studio, a company statement said here.
According to a study, the residential real estate market comprises apartments, villas and independent houses. Following the COVID-19 pandemic, there has been a shift in the home buying behaviour with customers looking at quality houses over apartments.
Trade estimates suggest that the share of high-rise buildings has shrunk to 10 per cent in 2021 as compared to 22 per cent in 2019.
It was also estimated that between 2021-2025, 1.50 lakh homes were expected to be constructed in the market which provides an opportunity to JSW One Homes to capitalise the demand to garner over 1 per cent market share and gross merchandise value (GMV) at Rs 600 crore from Tamil Nadu by 2025, the company statement said.
According to JSW One Platforms CEO Gaurav Sachdeva, Tamil Nadu is a market of strategic interest to JSW One Homes given the strong demand for independent homes and higher adoption of digital first brands.
“During the last six months of commencing operations in the state, we have received more than 300 enquiries for home construction projects in Chennai. We expect the Chennai market to be a significant contributor to our consolidated order book in Tamil Nadu,” he said.
