Demand for quality residential and commercial space remains strong, especially in emerging urban centers and satellite towns. The growth curve is likely to continue upwards, driven by increased consumer confidence, focus on sustainable living and the sector’s adaptation to evolving technological trends. This optimism reflects not only the resilience of the sector, but also its potential to contribute significantly to the country’s economic progress, says Kalpesh Mehta, Founder, Tribeca Developers.

In an exclusive interview with Sanjeev Sinha, Mr Mehta shares his views on the factors contributing to the growth of the realty sector in current times and talks about the Tribeca-Trump India partnership.Excerpts:

After the quick recovery from the impact of the Covid-19 pandemic, the real estate sector seems to be on a growth spree currently. How do you see the growth graph moving ahead?

The rapid recovery of the real estate sector after the Covid 19 pandemic has set the stage for a promising growth path. India’s robust economic fundamentals of steady urbanisation, higher disposable incomes and favourable government policies are major contributors to this growth.

At Tribeca, we anticipate continued momentum in the real estate market. Demand for quality residential and commercial space remains strong, especially in emerging urban centers and satellite towns. The growth curve is likely to continue upwards, driven by increased consumer confidence, focus on sustainable living and the sector’s adaptation to evolving technological trends. This optimism reflects not only the resilience of the sector, but also its potential to contribute significantly to the country’s economic progress.

Also Read: Should you go for instant approval credit cards?

The luxury market is reaching new heights. Besides, Tier 2 & 3 cities are also witnessing great traction in residential and retail activities. What are your views and how upbeat is the market?

The incredible growth of the luxury market is indicative of changing consumer preferences and increased purchasing power. This trend is not limited to metropolitan cities but has also spread to Tier 2 and Tier 3 cities due to improved infrastructure, better connectivity and the growing trend of urban homeowners seeking second homes in these areas.

In our view, the growth will continue. Luxury real estate is not just about opulence, but also about clean air, green vistas and improved quality of life that are reshaping the luxury landscape. These market dynamics are reflected in our projects, which combine modernity, convenience and sophistication while being attuned to local characteristics. These factors, often typical of Tier 2 and Tier 3 cities, are becoming the new benchmarks for opulence. At Tribeca, we strive to reflect these changing aspirations in our projects such as The Ark Voyage to the Stars and Yoo One, seamlessly blending modernity with a tranquil, green living environment. This shift fits perfectly with the evolving notion of luxury and is expected to drive the real estate sector in these emerging markets.

How do you see the Mumbai, Gurugram and Pune market growth? Do you have any plans to enter Tier 2 & 3 cities?

Cities such as Gurugram and Pune saw significant price growth of 11-16% year-on-year last year – a trend we believe will continue. Gurugram, a powerhouse for business and industry, and Pune, a thriving IT, manufacturing and education hub, are highly sought-after destinations for investment. These cities offer a mix of employment opportunities, modern amenities and a desirable lifestyle, making them an attractive prospect for investors. And while growth in Mumbai has been stable year-on-year, the city remains a major financial and economic center and will continue to attract significant commercial and residential investment.

As for Tier 2 and Tier 3 cities, these emerging urban centers are no longer on the periphery of real estate development and hold great appeal for homeowners and developers alike. At Tribeca, our asset-light business model allows us to expand rapidly across the country, including Tier 2 and Tier 3 cities. We are confident that we will find the right partners and projects that align with our commitment to excellence and quality. Our projects, such as The Ark and Yoo One, reflect this belief. As these urban centers gain prominence, we are poised to explore opportunities that align with our values and vision.

What kind of investment or funding your company is planning in the next three to five years?

We envision the next three years as a significant inflection point for Tribeca. Our strategy is geared towards exponential growth, aiming to expand our current size by 3 to 5 times. To fuel this ambitious trajectory, we are actively planning investments of ₹1,500+ crores. This funding will be strategically sourced through a combination of equity infusion and leveraging third-party capital. Our commitment to innovation, excellence, and holistic development will be the guiding force behind these investments as we continue to shape the real estate landscape across India.

Can you share details of the Tribeca–Trump India partnership?

The partnership between Tribeca and Trump India is testament to our decade-long commitment to excellence, innovation and delivering real estate projects that are second to none. Today, we are proud to be the largest developer of Trump properties in the world, second only to the Trump Organization.

Currently, our partnership is evolving dynamically with the development of two iconic projects in Gurgaon and Kolkata. These projects not only represent the pinnacle of luxury, but also reflect the synergy between global design aesthetics and local sensibilities.

Looking ahead, our partnership is poised for significant growth. Amidst the numerous conversations we are having, we expect 1 to 2 Trump projects to come to fruition this year. This fits seamlessly with our commitment to create luxurious living experiences and redefine the standards of excellence in the Indian real estate sector.