In 1984 Deepak Goradia joined Dosti Realty and after understanding the nuances of the company took over as Vice Chairman & Managing Director. Guided by the principles of ethical business practices, transparency and striving for customer satisfaction, he continued the legacy. Dosti Realty has been synonymous with trust, togetherness and reliability.
Deepak Goradia holds a dual degree in Commerce and Law. His unique ideas, strategies and negotiation skills have earned him respect as the visionary of the group and that got Deepak Goradia interested in the architectural and design aspect of the business. He is the brain behind the architectural grandeur and beautiful landscapes of Dosti Realty projects. Dosti Realty has completed around 9.5 mn sq.ft of development and provided homes to 8600+ families till date.In conversation with Dominic Rebello, Deepak reveals his vision of taking Dosti Realty to the next level within a decade and creating a pan India presence across sectors by constantly pushing the boundaries with each new project.
Do you feel DP2034 touches on all aspects of development? If no, what according to you should be changed?
The DP 2034 is futuristic and is prepared keeping in mind the future developments of the city. The increase in FSI as per road width is a good proposition and is welcome. However there has been a huge increase in costs, charges and premiums which will mar affordability.
Developers have returned to small ticket due to higher demand in the segment... Do you agree with the statement? Please Elaborate...
People are reluctant to buy large expensive homes and they are opting for smaller homes within their budget, with a willingness to compromise on the size of the rooms. To cater to this demand, developers are building smaller apartments.
Do you feel the buying sentiments are infrastructure driven?
The typical home buyers these days is very tech savy and well aware of the current market conditions, competition, planned infrastructural developments etc. Yes, infrastructural development does play an important role in the buyers decision especially in Wadala, Parel, Sewri, Thane, Bhiwandi, Shil-Thane, Kalyan etc from both a practical as well as investment point of view. For the end users it is very important to buy a home that is well connected to various parts of the city. From an investment point of view as well, the development of infrastructure automatically has a bearing on the appreciation of the property in the future. For example if you look at Wagle Estate, Ghodbunder Road, Thane- Belapur Road a decade ago and today there is a vast transformation. The development of Ghodbunder Road has lead to Thane becoming a thriving residential and commercial hub today. Similarly given the various other social and infrastructural developments planned in Thane, this location is set to grow further in the coming years.
Do you expect prices to dip further in H2?
Prices fluctuations in H1, 2018 vary from location to location and product to product. The subdued demand in the super –luxury and luxury segment has impacted prices in South and Central Mumbai. Locations in the Western and Suburban belt though have witness a relatively stable pricing trend. Locations of Thane and beyond prices have remained stable as well, with some micro-markets witnessing a mild price appreciation for 1 BHK and 2 BHK options due to a higher demand. This is primarily because many large corporate are shifting base to these locations due to the availability of larger floor plates and built to suit options. The shift coupled with development of large land parcels that are being transformed into self contained townships as well as various infrastructural developments has positively impacted residential demand in these locations. No, we do not foresee a reduction in prices as the construction costs are increasing. All commodities like steel, cement etc are getting expensive and this coupled with the increase in USD as well as fuel prices are driving prices up further.