29 May 2020

Realty Biz

We are eyeing a 15-20 per cent market share in 5 years and want to be a respected real estate brand


Bengaluru based Nambiar Builders has been entrepreneur driven firm with extensive experience in the realty sector. Its diverse portfolio of projects includes gated communities, residential layouts, premium apartments and luxury villas in and around the booming metropolis. The company has a vast land bank which it plans to use to great advantage as it looks to build in its existing imprimatur in the future. RAMESH NAMBIAR, CO-FOUNDER & MANAGING DIRECTOR, NAMBIAR BUILDERS, offered CONSTRUCTION OPPORTUNITIES a view of the premium brand Mediterranean villa projects his firm has currently taken up and the business outlook going forward. 



Briefly give us an understanding of the role played by your firm in Bengaluru’s real estate space since its founding?


We have been working in real estate industry for more than a decade and were involved with various joint ventures and land banking for several years. It was in pursuit of building a new real estate culture and standard that we established our brand. Our flagship project Bellezea is a luxury villa project on Sarjapur-Chandapur road. There are few other projects in the pipeline.

We are in a niche segment of luxury living space. Currently, we are at 5 per cent of the market share. We aim at expanding at 15-20 per cent in the next five years and want to be a respected brand in the sector.



What is your philosophy or vision in the context of contributing to the housing sector, an area in which there is a huge national deficit?


India is facing a shortfall of over 18 million housing units. The new government at the centre has announced some proactive moves to facilitate a healthy real estate sector. FDI for instance would help builders construct projects and deliver them on time without compromising on the quality aspect. We feel that Indian banking system should look at the sector positively and help it in addressing the most basic need of human kind – a home.



Tell us of the projects currently being developed by your firm around Bengaluru and in other parts of the state – locations, investments, special features of the projects and their current status of implementation and timeline for completion?  How have your projects being received?

Currently we have projects only in Bengaluru. Bellezea is our flagship luxury villa project on the Sarjapur-Chandapur road. The smallest unit at Bellezea would cost between `3 and `4 crore, with a land area of 4,250 sq ft. and built up area of 3,200 sq ft. Phase One of this project is sold out and is at possession stage now while construction has begun on Phase Two. Some more projects are on the anvil. High end specifications, timely delivery, quality in everything, attention to detail, thorough market analysis and understanding of client requirements are what differentiate us from others and that is seen in the success of Bellezea. Large part of our funding is our own. However, we have a project funding from Bank of India for the Bellezea project.



2013-14 has largely been one of challenges for the real estate sector. How has your organisation performed against a background of economic slowdown, rising material costs? What has been your strategy to beat the crisis?

Our association with the real estate sector has been a long one and we understand the business well. Our flagship project Bellezea falls under the luxury segment and the target buyer community does not depend totally on finance to buy such villas. Yes, 2013-14 was a lean period. For us this period was that of completing construction at Bellezea and we did manage doing that successfully. We believe in best practices at work which helps us in maintaining low cost of operations. Having our own land bank was a huge plus during a phase which was not so good for the sector.



There is currently an overemphasis on luxury leading to real estate price points going beyond the reach of the average buyer. Give us an understanding of the projects you have done in the mid luxury and affordable segment? Tell us of your land bank and the advantage it brings for players like you?

The real estate market is driven by demand and luxury homes are in vogue for the past few years.  The buyers for these homes largely constitute the HNI and NRI segment which means that this is a totally different market. Bellezea is one such luxury villa project. Our buyers are largely NRIs who have come back from the US, UK and Middle East or people intending to come back to their home country after spending years there. Our mid segment project Urban Spaces would be launched soon. Having your own land bank has its advantages and provides stability in terms of developing a project.



Tell us of your Mediterranean villa projects and about their special features – USP, cost, and response from NRI buyers? What are the strategies employed by your firm to market your projects? Tell us about your tie ups with global design and architecture firms, financial partners and the value the associations have brought to the end product?

Bellezea Phase 1 is a Mediterranean luxury villas project located in the heart of Bangalore, off Sarjapur Road, in close proximity to Electronic City, Hosur Road and Whitefield. Spread over 100 acres of lush idyllic setting, Bellezea is built to the highest quality norms and this high-end gated community offers world class amenities and facilities for an international lifestyle. With a unique collection of ultra-modern and spacious villas ranging from 4,250 sq.ft. to 15,000 sq.ft., Bellezea is the purest expression of an exclusive gated community. The 78,000 sq ft. clubhouse at Bellezea offers a host of world class options ranging from an outdoor pool of more than 6,000 sq.ft to a recreational pool with water slides and other amenities including an amphitheatre, health club, banquet hall, multi-cuisine restaurant, salon, spa, crèche, business centre, 30-seater theatre, library, indoor games facility, bar and cigar lounge, party lawn, café, retail zone, visitor suites and a community plaza. Some of the salient features of the project include larger villas of 4250 sq. ft. to 15,000 sq. ft size; an average of five units per acre of development; a club house spanning around 80,000 sq.ft.; close proximity to the proposed Peripheral Ring Road (PRR), BMRDA Approved Project, and a project approved by all leading financial institutions. We have a dedicated marketing team which undertakes various ATL and BTL promotional activities as also participation at key events to market our projects.  We work with international architectural teams like Space Matrix, FHD etc and associating with them have helped us create niche high quality villas.



Give us an understanding of Bengaluru as a real estate market and share your concerns as a developer? What are the main challenges faced in the business and your expectations from the government to address them?

Bengaluru has grown to become a very vibrant real estate market. Rise in migration levels has urged the need for better housing and infrastructure in the silicon valley of India. Absence of large land parcels and delays in getting regulatory compliances done is a concern and we feel the government must address these even as it focuses on building better roads for better connectivity between the main city and its growing suburbs.




Tell us about your emphasis you place on green buildings and sustainability and the best practices you have introduced in your projects in terms of innovation and technology, quality construction material and project management techniques?

We believe in quality living. Our Bellezea project is constructed with high standards of construction, architecture and without disturbing the ecology of the area. Only five families can reside in a one acre of land at our project.



Could you talk about your long terms plans for expansion pan India? Are you looking at options like redevelopment and slum housing?

We are presently based only in Bengaluru. We are not planning to foray in other cities immediately. However, we are looking at expanding our horizons to other cities in South India in the long run. We have not given a thought yet about exploring newer avenues like redevelopment and slum housing.



What is your outlook for the real estate business in 2015-16?

After the new government has taken charge at the centre, there is a positive sentiment brewing amongst all the stakeholders in the real estate sector. The demand for housing is today driven by end users and not speculators or investors as was the case a few years ago. We feel that factors like a rate cut by the RBI and FDI in the sector can help the sector witness an upward trend in 2015-16.

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