02 June 2020

Table of Contents for Realty Biz

Interaction-Munish Doshi, MD, Acme Housing

Since its inception in 1976, Acme Housing India caters to all segments of the industry

Acme Housing India Pvt Ltd has been attaining degrees of excellence with over 100 completed landmark projects in areas like Andheri, Vile Parle, Malad, Kandivali, Goregaon, Juhu, Santacruz & Thane. MUNISH DOSHI, MANAGING DIRECTOR, ACME HOUSING spoke to PANJAMI VIVEK regarding the company’s expectations for the speedy revival of government policies and plans to foray into affordable housing.


Briefly take us through Acme’s achievements over the 40 years it has been in the real estate business.

Over four decades, the Company has predominantly diversified into every segment of the Industry like residential, Industrial Estates, Commercial buildings and IT hubs. Acme Housing is known for its high end and customised projects, in Juhu, Vile Parle and JVPD Scheme, mid-segment projects in areas like Malad and Goregaon and is currently marking its entry into low cost affordable housing in far-end suburbs like Nerul, Karjat, Dombivli etc.


Tell us of the projects currently being developed around Mumbai by ACME Housing and their geographies, investments, special features and their current status of implementation. Also state the target groups you cater to?

ACME’s ongoing projects in Mumbai & Thane –

  • Acme Avenue, Kandivli West.
  • Oasis, Kandivli East.
  • Acme Hills, Goregaon East.
  • Acme Boulevard, Andheri East.
  • Stadium View, Andheri West.
  • Acme Ozone, Thane.
  • Acme Elanza, Ghatkopar West.
  • Legacy, Vile Parle West.


And upcoming projects are –

  • Large affordable Housing at Karjat and Dombivali.
  • Acme Aurum, Kandivli West.

ACME currently has over 7.5 lakhs sq.ft. under various stages of construction.

All our projects adhere to the various norms and by-laws of respective Municipal authorities.


The last set of years had an adverse effect on the real estate business due to the slowdown in the economy. Kindly share with us the strategies employed by Acme to tide over the crisis?

ACME monitors and assesses visionary demands instead of clambering to fulfil immediate requirements. Our upcoming projects replicate different modules in accordance with requirements in the economy as well. ACME Boulevard, a luxury project in Andheri (E) (under construction – possession scheduled by the end of 2018), ACME Ozone, a premium residential project in Thane (handed over possession for Phase I and society formation completed), some of the other under construction landmark projects include ACME Avenue in Kandivali West, Oasis in Kandivali East, Acme Hills at Goregaon East.


The cost of owning a home in Mumbai is beyond the reach of the average Mumbaikar. What is Acme Housing doing about the shortfall in housing?

Housing needs of the common man can be catered to in a fulfilling way only when there are better regulations and quicker approvals. Only translucent government policies will attract more developers in the affordable housing segment. With improved connectivity, places like Virar, Dombivali and Kharghar and other suburbs in the outskirts of the city have developed over the years. ACME provides homes in the range of Rs.10-20 lakh in these areas and we can similarly develop satellite towns around leading metro cities aiming wider development.

ACME offers:

  • Price Protection guarantee for all Acme projects
  • Acme Boulevard allows one to book a flat by paying only 5 per cent and the balance can be paid through various flexible payment schemes
  • Acme Oasis has a timeline protection i.e possession guarantee by 2017 with no floor rise above 20th floor
  • Offers 20:80 payment plan scheme
  • Stadium View proposes no floor rise and no PLC charges for any floor or flat
  • Acme Ozone can be booked by paying Rs.7 lakhs or Rs.10 lakhs and nothing for 2 years or possession.


Is your company contributing to the “Housing for all” scheme?

Yes, we are contributing by constructing more than 5000 affordable homes for EWS segment of the community.


Please mention the green and sustainability measures incorporated into your company’s projects and mention the products and materials used and companies you associate with to deliver a unique product.

The concept is an environmentally responsible initiative and beneficial for nature in the long run. Constructing green building is not a huge task however it is difficult for the Society to maintain a green building. Technology has enabled architects, to design efficient, energy conserving infrastructures which eventually leads to become a certified green building. We also notice that firms from different parts of the world contribute to one single project, wherein the Concept and structural design is a combination of creativity from various countries. This is possible today, only because technology has integrated the World on a single platform.

Acme Boulevard at JVLR, Andheri East, Mumbai

The project is being built using aluminum formwork technology from a Korean vendor, S-Form.

The project’s concept is designed by Woods Bagots (designer from Australia) and principle architect is Lewis and Hickey (from UK). Structural consultant for the project is JW consultants while quantification is done by G&T (UK). The project itself is an example of bringing so many countries and technologies together to build one of the most perfect structures in the economic capital of the country (Mumbai).


What software does your company use for design as well as cost control and project management?

Advancements in architectural technology have by far benefited the construction industry at large. BIM has integrated several aspects of designing and reduced the coordination overhead in day to day life for builders by using software like Revit, Clash detection, multidiscipline 3D coordination, energy analysis, lighting analysis, heating and cooling load analysis, etc. These technologies have helped architects design efficient, energy conserving buildings leading it to become a certified green building. Software gives an edge to quantity and a finer edge to the estimation department, which used to be a mammoth task otherwise.

Introduction of aluminum formwork has reduced the timeline of RCC structures by manifolds and has omitted laborious task of brickwork, plastering and finishing to the surface. With conventional formwork one to two slabs can be casted in a month whereas with aluminum formwork three to four slabs can be casted. There carpet area also increases significantly by 5 per cent to 10 per cent when aluminum formwork is used instead of the conventional. The overall shuttering cost per sq.ft. is also 80 per cent lesser in aluminum formwork compared to conventional materials used.


The government is hastening to refine infrastructure, real estate, and all allied sectors by initiatives like REITS, GST, lowering of interest rates etc. How effective a role would these measures play on reviving the real estate industry?

All though the deposit rates have gone down, the RBI is expected to take further positive steps to cut down the policy rates which will in turn result in affordable lending rates facilitating the growth of Real estate and infrastructure industry.

This positive transition is also vital for the growth of infrastructure and manufacturing sectors which are directly related to all our ancillaries to the Real Estate industry. Even after demonetization, we have been experiencing a steady stream of enquiries for our projects, but people are still waiting and holding on to the decision for correction in interest rates, favorable macroeconomic situations and RERA and other regulations favoring the real estate purchase. To look forward to achieving the Prime Ministers affordable housing dream, one of the important factors is the lending rate which is required to boost the real estate sector.


What are your expectations from the government in terms of easing the business atmosphere in the country?

Single window clearance system would help expedite clearance projects in a tremendous way. Not only it is convenient for developers but will result in cheaper homes for buyers due to decrease in cost of construction. This would also help the real estate industry attract more funds from the domestic as well as foreign markets.

Enforcement of RERA would decide its final impact. If not connected properly, RERA will become another major hurdle in the development of the country’s real estate. The devil is in the details and would be crucial in determining if they undermine or revitalise the real estate industry.

Speedy approvals, reduction in Interest rate to all home loans, development of friendly government policies are prerequisites to foster growth.


Tell us of your organisation’s plans, investments and outlook for future businesses?

We feel that the Real Estate Industry has a luminous future. We plan to undertake large stretch of affordable and mass housing projects either as JV with the landowners or other fellow developers.

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