“At SIDDHA Quality IS the Key Towards Recreating Reality …”
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SIDDHA SIDDHA LIVE IN OTHER GROUP GROUP THROUGH ENDEAVOURS ‘RECREATING CSR ACTIVITIES VISUALS @ SIDDHA REALITY’ PAGE 2 PAGE 5 PAGE 6 PAGE 8 WORD OF JUNE MOUTH 2014 compromise. This conviction was validated priced at Rs.15 lakh in 2009 has now appre- by the CNBC Awaaz Real Estate Award 2013 ciated to more than Rs. 32 lakh in a weak “At SIDDHA which awarded Siddha Town the best ‘100% economy! Q. A NUMBER OF IN- DUSTRY OBSERVERS QUALITY IS THE ARE TALKING OF A BOOM IN THE MIDDLE KEY TOWARDS INCOME REALTY SEG- MENT. A: One can describe this RECREATING as the liberalisation div- idend. Over the last cou- ple of decades, there has REALIty …” been a large growth in the number of middle-income Explains Sanjay Jain, MD, Siddha Group families. A new India has emerged and the result is disparity. Siddha was one of the first Kolk- HOW DOES ONE DEFINE A a new market for afford- ata realtors to reposition itself: apartments, ‘middle-income’ group? able apartments. Siddha which were designed around 1,700 square QA: Over the years, our experience was among the first real- feet (average price), were reconfigured to has indicated that the middle-income seg- ty brands to identify this around 1,000 square feet and re-priced ment of Kolkata largely consists of salaried opportunity, reflected in at Rs.1,450 per square foot. The building individuals/professionals, marked by double a widening portfolio of height was moderated from G+11 to G+4 incomes (husband and wife) and a month- such projects - Siddha levels. The success of Siddha Town (Rajar- ly household revenue that ranges from Town (Rajarhat), Siddha hat) did a number of things: it strength- Rs.1 lakh to Rs. 2.5 lakh. Contrary to what a Town (Madhyamgram) ened Siddha’s focus on affordable housing number of people may like to believe, this in- and Siddha Pines (Rajar- and inspired us to create a product for the come segment has some precise needs and hat). aspirations, which is something that the Sid- Rs.1 lakh to 2.5 lakh per month income dha Group has begun to capture in the form bracket. Complete Residential Project’ under the af- of a specific realty portfolio. Q. THE PERCEPTION IS THAT ‘afford- fordable segment in Kolkata and again the Siddha Town was Bengal Realty Awards 2014 which awarded Q. HOW? ABLE Housing’ aparTMENTS HAVE Siddha Town was awarded the Credai Bengal awarded the QUALITATIVE LIMITATIONS. A: Prior to the 2008 recession, there was Real Estate Award 2014 for the best ‘Budget Credai Bengal A: This is an important point. At Siddha, hardly any research conducted in Kolkata’s Housing Project’. If there is one reason why Real Estate Award real estate sector. People responded by we recognised that irrespective of the price this project generated the kind of success their ‘gut feel’. When it came to ‘afford- range, quality would have to be the num- and appreciation that it did was the fact that 2014 for the best able housing’, the general inference was ber one focus. Each buyer would need to Siddha delivered amenities rarely seen in Rs ‘Budget Housing the unrealistically sized apartments. As a feel that the product was first-rate in terms 15 lakh apartments back then. The result is Project.’ result, there emerged a demand-supply of finish, conveniences and price-value. No evident in the price appreciation: what was JUNE 2014 dential apartments (Aashray), a first-of-its- INTERVIEW kind duplex apartment building in 1992. Then, when we built a first-of-its-kind “SIDDHA commercial complex in Jaipur (Jaipur Tow- ers), which is still a landmark on MI Road CREATED A in that city. Or when we created a 141 acre CENTRAL IDEA township in Pratapnagar (Jaipur) called Raj Aangan in collaboration with the Rajasthan AROUND ITS Housing Board comprising 303 deluxe bun- TAGLINE OF galows, which was a concept that people had not heard of and is now known as the ‘RECREATING ‘NRI Township’. Our Siddha Pines (Rajarhat Main Road) redefined residential standards. REALITY.” Our innovative Xanadu offered 324 New A conversation with Sanjay Jain, York-style studio apartments. Over time, MD, Siddha Group Siddha has emerged as one of the most respected brands in Kolkata and Jaipur. Siddha Pines THE TAGLINE OF THE SIDDHA GROUP is ‘RECREATING REALI- Q. HOW DO YOU EXPECT TO ENRICH Q: HOW IS SIDDHA EXPECTING TO DRIVE iddha Group, started al- QT y’. WHAT DOES IT SIGNIFY? ‘RECREATING REALITy’? GROWTH FROM 2015 ONWARDS? A: At Siddha, we have not only been devel- most three decades ago, A: The tagline ‘Recreating Reality’ indi- A: The most effective enrichment of this oping a robust landbank but also creating has transformed into a cates that Siddha transforms dreams into tagline will be achieved by continuing to S a pipeline of attractive projects over the leading realty house. The Group reality. When we launched Siddha Town at build exclusive apartments for the aspiring middle-income group. The idea is to stay foreseeable future. When you consider that has conceived, designed and cre- true and consistent. This is a relevant po- each happy family has, on an average, five ated a range of residential and sitioning; the growing population will in- individuals (including support staff), the re- commercial complexes and town- crease apartment requirements for the com- sult would be the progressive creation of a ships at prime locations in Kolkata community of 100,000 people. mon man who needs something more than and Jaipur. Some of these have just an ordinary apartment. This is where we Q: HOW DOES SIDDHA INTEND TO MAN- become landmarks that tower step in, by providing the best-value apart- AGE ITS BRAND DURING THE NEXT SIX over their urban landscapes - a ments within an affordable price range. YEARS, LEADING TO THE ACTUALISA- testament to the entrepreneur- TION OF THIS CHALLENGING TARGET? ial spirit of an organisation with INTERVIEW A: At Siddha, we acknowledge the fact values deeply rooted in tradition that our brand needs to stand for warmth, and trust. “SIDDHA’S friendliness, accessibility and affordability. We recognise an inherent sense of com- Over the years, Siddha has ex- OPERATING patibility between these attributes and our tended beyond its business front PHILOSOPHY IS target audience (the middle-income group). to engage with the public at large, We intend to invest in our brand to reflect across a range of developmental SIMPLE: these attributes and expect to emerge as one activities. For instance, Siddha en- of the best-loved companies in India in the gaged in a forward-looking initia- Siddha Town, Rajarhat future. UNDERPROM- tive called ‘Siddha Mission Earth’ Rs 15 lakh, it was only a dream that when ISE AND Q: HOW DOES SIDDHA EXPECT TO to implement innovative social you would be buying into an apartment, you STRENGTHEN ITS CUSTOMER FOCUS? development activities by plant- were also going to be provided with such OVERDELIVER.” A: This is an important point. The one mes- ing trees and making education, amenities like swimming pool, health club, SIDDHA IS ONE OF THE FASTEST sage that we wish to send out is that we health and training accessible for gymnasium and landscaped green areas. GROWING REAL ESTATE COM- expect our brand positioning and customer the benefit of the underprivileged The reality is that Siddha actually delivered. PANIES IN KOLKATA. focus to translate into higher sales, not the society. Gradually, a perception began to emerge Q other way around. We are fortunate that the that Siddha made impossible things happen A: It is because we selected to specialise in a entire organisation sees eye to eye on this Mr Sanjay Jain, Managing Direc- – the amenities generally associated with specific segment – affordable homes for the and we encourage Team Siddha to go out tor, has been awarded for his ex- luxury homes for an affordable price. That middle-class. This is a large and burgeoning and delight customers; we encourage our cellence in the feld of Real Estate segment; we are growing our share in it. The perspective was captured in the tagline. employees to place the customer first; we Development by ABID (Associa- result is that we were completing an average invest in initiatives that will help us deliver tion of Architects, Builders, Inte- Q. SO IS THIS A NEW TAGLINE? 2,000 homes a year until 2012; we expect better homes at lower costs. Siddha’s op- A. Yes and no. ‘Yes’ because it was a ta- to raise this average to 20,000 in a couple riors, Designers & Allied Business) erating philosophy is simple: underpromise gline created in line with its ‘affordable of years from now. The result is that we had in 2014 and Better City Better Life and overdeliver! homes’ positioning. ‘No’ because we have about 200 happy families till now living in (BCBL) Award 2014 by Public Re- in some way or the other been associated homes delivered by us, and we expect to have lations Society of India. with this philosophy - when we built resi- about 20,000 happy families by 2020. 2 JUNE 2014 TONE OF YELLOW DECODING VAASTU WHITE GREEN GREEN BLUE BLUE WHITE WHITE PINK TONE OF BROWN SILVER WHITE CORAL RED VAASTU COLOUR NORMS any things can go The colours we choose bear a special responsibility as they reflect our wrong in the de- personality and life approach. Vaastu tells us how to choose wall co- Msign of a building lours in accordance with planetary directions in order to reap a rich keeping in view traditional outcome in the form of good health, wealth, peace, progress and IMPORTANT VAASTU TIPS vaastu norms.