With leading Raiaskaran for closer to a decade and playing a crucial role in bringing innovation to the firm in terms of design thinking, aesthetics and sustainability, Yuvraj S Rajan, Director, Raiaskaran has an interesting chronicle to talk about. Read on to know more about his journey and growth strategies for his company.
Tell us about your journey in the real estate industry?
As a second-generation entrepreneur and being part of a family-run business, an understanding of the real estate industry came naturally to me. I completed my Bachelor of Science in Business Management with a concentration in real estate, sustainable development and entrepreneurship from Babson College, Boston, and immediately joined Raiaskaran.
At Raiaskaran, we believe in creating structures that would do justice to the canvas of Mumbai. Creating these spaces is our responsibility rather than a job. To achieve this, we have introduced some of the world’s most acclaimed architects to the Indian realty market. Together, we have been able to consistently deliver to our stakeholders only premium-quality buildings that compare with the world’s best.
Help us understand the technological initiatives of your company.
While the use of technology has created smart homes, the future of real estate is smart buildings: structures that preserve natural resources by providing better energy consumption using solar technology.
According to data provided by the Indian Green Building Council (IGBC), having green homes lead to tangible benefits of 20-30 per cent in energy savings and 30-50 per cent in water savings.
At Raiaskaran, too, we follow the same approach. At the very beginning of the design stage, we implement BIM technology and use design software’s like REVIT (which is now the international norm) to ensure the least wastage and the most efficient construction.
We also use smart management systems that save energy and reduce buildings’ negative impacts on the environment, by using less energy, water or natural resources. It also benefits customers by saving costs.”
According to you, how is the demand picking up for premium residential spaces?
On average, luxury property prices have remained stable, and we are beginning to see a rise in recent past months. While we expect the housing demand to continue, the rising cost of commodities may get transferred to the end buyers, leading to a further 5-7 per cent hike in prices.
The historically low-interest rates will continue to greatly impact the demand for such luxury homes as well.
Another interesting trend emerged with the outbreak of the Covid-19 pandemic. People have now realised the importance of owning more spacious and comfortable houses ever since work from home became the norm. The ready to move in and completed luxury buildings are seeing the best of these times. Homeowners now want their upgrades immediately.
What about the landmark projects Raiaskaran has executed so far and important infra projects in hand?
At Raiaskaran, it has been our persistent effort to bridge the gap between good design and the latest technology, which enables us to deliver energy-efficient and environmentally compatible projects.
Our residential property, Parthenon, is designed in adherence to our Trinity Credo, the design philosophy followed at Raiaskaran. Every structure is looked at with three lifestyle components: 1) privacy for residents 2) discreet service and staff zones 3) comfort and indulgence for guests. Keeping the residents’ well-being in mind, 15,000 sq ft is dedicated to indoor amenities.
Our project Raiaskaran Tech Park (RTP) stands at the intersection of architecture and art. RTP has been catering to some of the world’s leading companies and we have consistently been recognized for our efforts in being one of the only campuses in the heart of the city.
With the advent of hi-tech, how different was it embracing technology in the real estate industry?
Due to its nature, real estate has always been slower to accept new technologies. The key has been to implement them in the early stages of design and ensure maintenance.
Which are the other green initiatives that the group is involved in?
The Core & Shell Certification accorded to the group is testimony to Raiaskaran’s unwavering commitment to a greener future. In our efforts to contribute to the environment, we continuously plant a large variety of trees (approx. 2,000) and plants within the campus. There are three nurseries within the campus. Our projects consistently adhere to the norms of environmental compatibility. Farmer’s market, flower nursery and garden, ample green spaces, and rainwater harvesting facilities are some of the major contributions towards maintaining a sustainable workplace in this crowded city.
What are your thoughts on the current scenario of the real estate business?
The real estate sector in India is one of the strong growth pillars of the economy, an important asset class for the investors and is the second-most elevated business generator in the country after agriculture since the sector is interlinked to 250+ allied industries. With rising Covid-19 cases and offices adopting work-from-home culture again, rented commercial spaces may experience a little setback for the short term. Residential demand may remain stable as buyers’ preference for owning their own homes continue. A sustainable community-driven lifestyle is here to stay for long with conscious home buyers and rented office spaces.
Other than residential projects you have also forayed into commercial spaces too. Tell us more about the Raiaskaran Tech Park and Turner House?
Raiaskaran Tech Park (RTP) was established to provide the city with a complete environment for business that is much more than the four walls of a workspace. RTP’s cutting-edge structures are engineered to last a lifetime.
It offers an abode to employees and once inside you are transported from the bustling streets to a green campus unlike any other space in the city.
The campus provides for all the needs a multinational company would have as if they had built their own. From cycling tracks to rest areas, we have ensured that one can long for nothing.
The park also proudly houses a leading art gallery that displays India’s greatest artist, open for all to enjoy.
Through this art gallery, the founders share their passion for art with all.
Our upcoming project Turner House is in progress and is all set to be a luxury retail
and offer limited premium offices. Unlike that, the area has seen before.
Designed by acclaimed international architects Proctor and Mathews and Padma Bhushan awardee, Architect Hafeez Contractor, the project is in the heart of Bandra (W), Mumbai.
What are your plans for the company?
We continue expanding our presence in residential and commercial segments throughout the city of Mumbai. In the future, Raiaskaran also plans to have footprints in the hospitality space.
How did you cope up with this lockdown phase and what was one thing that you learned through it?
My time during the lockdown was spent with family and to take the time to slow down.
The one thing I learnt was to focus on arriving at solutions, by breaking-down the hurdles, irrespective of the scale of problems.
What message would you give to budding entrepreneurs?
It is all about staying true to your course and persistence. Obstacles with criticism will be a constant so self-belief is critical to move ahead.