Saturday, October 24, 2020

Table of Contents for Realty Biz

Interaction-Vishwajeet Jhavar, CEO, Marvel Realtors

We will continue to set benchmarks in luxurious living with new projects in 2016


Marvel Realtors is one of the foremost names from Pune’s real estate sector with close to a decade and a half experience in delivering state-of-the-art lifestyle solutions and commercial spaces to people. From taking luxury to new heights of superiority to redefining the quality and technology implemented in every project the company prides itself as a premium real estate developer with a conscience. VISHWAJEET JHAVAR, CEO, MARVEL REALTORS took on queries from SHRIKANT RAO on the role his firm has played in transforming Pune’s living spaces and its mission for the future.



Briefly explain Marvel’s philosophy or vision in the context of its contribution to the housing industry since its founding?

With over fourteen years of building a solid reputation for luxury and quality, Marvel Realtors has over 26 million sq. ft. of luxury residential, commercial and retail projects across cities, totalling to Rs.14,000 crore under various stages of development. Consistently surpassing its own benchmarks, Marvel Realtors has always succeeded in delivering world class innovative projects to its astute customers that includes many firsts like completely automated homes in the real estate industry as early as 2004, VRV air-conditioning, one apartment per floor, plunge pools on private terraces and many more. All these innovations and benchmarks are now the norm in the luxury realty business. With innovation and first mover advantages, the company has grown exponentially in building homes, offices and retail spaces with a constant commitment to quality.



Could you dilate on the important residential and commercial projects completed and delivered in recent times and the feedback you have received?

Marvel Realtors has completed and delivered close to 25 projects which includes residential, office and retail space.The commercial projects are in various stages of development in Viman Nagar, NIBM Road, Lulla Nagar and Magarpatta in Pune and will offer over 1 million sq.ft of world-class commercial space for 21st century businesses – both commercial and retail. Some of the marquee residential projects that have been successfully handed over include Marvel Diva, Marvel Grandeur, Marvel Exotica, Marvel Ritz, Marvel Azure to name a few. Every single project under the Marvel clanhas been very well received by its patrons for iconic design, style and elegance, superlative luxury, peaceful and well thought out locations. As mentioned, Marvel projects are well received by its customers. One of the main reason behind this is our strong and confident ‘after sale support’ team. Marvel has always emphasised on providing an excellent service support to all its customers in order to ensure necessary checks or support at all times. Owners have the leeway of calling the support team at anytime for help or repairs even after years after collecting the keys to the apartment. To serve the customers better, Marvel Realtors has a dedicated CRM staff in charge of collecting customer feedback or concerns and ensuring those concerns are dealt within a definite timeline.



Could you talk of the landmark projects currently being developed by Marvel around Pune and in other parts of the state and country? 

Currently Marvel has 28 ongoing residential projects with 25 underway in Pune and the remaining 3 in Bengaluru. Marvel Realtors in the last one year has launched four major projects in Pune – namely Marvel Basilo, Marvel Kyra, Marvel Izara and Marvel Piazza.  The commercial projects are in various stages of development at Viman Nagar, NIBM Road, Lulla Nagar and Magarpatta, and will offer over 1 million sq.ft of world-class commercial space for 21st century businesses – commercial and retail. All Marvel Realtors, luxury apartments come with the guarantee of high-quality construction and craftsmanship, materials and distinctive specifications that will endure forever. Each project is fitted with world-class, never seen before amenities for customers to experience the enormity of comfort and luxury. Homes are equipped with exceptional facilities, automation as a standard feature, large, dramatic spaces and specifications that are at par with world standards.



There is currently an overemphasis on luxury leading to real estate price points going beyond the reach of the average buyer. What is your take on that?

Marvel Realtors decided to enter the real estate sector 14 years ago when there was a dearth of luxury offerings in Pune. The luxury real estate sector was at a nascent stage and the potential for the segment to grow was huge. Today, luxury as a term has become a word without differentiation in the real estate market. What sets the luxury housing apart is location, space, exclusivity in design and futuristic lifestyle amenities. It's no longer the price per square foot or the specifications that make the house a luxury home. With people acquiring a taste for luxury, the ultra-luxury housing continues to evoke buyers in Pune and developers are launching projects with the consideration that luxury knows no recession.



What are the strategies employed by your firm to market your projects? Tell us about your tie ups with global design and architecture firms and occupiers and the value the association has brought to the end product?

Marvel has various projects under different price points across several strategic locations. The specifications that add up to the luxury quotient are kept standard across all the Marvel projects. As far as the landscape and architectural designs are concerned Marvel has tie-ups with world renowned companies like HB design, Ecoplan Asia and many more offering world class interiors. Moreover, Marvel Realtors has one of the best designer teams in the real estate category. They have partnered with a select number of architects and landscape designers from both national and international markets.The international landscapers at Marvel Realtors use the local sensitivity to bring the outside inside, they ensure that greenery is welded into every aspect of the project and all the apartments face the amenities area which is a wonderful view for everyone. The expert landscapers and architects keep all these and more aspects in mind during the design and elevation process to enhance customer experience and, exquisiteness of the project.



Tell us of your long terms plans to expand your company’s profile pan India?

From an extremely strong presence in Pune with 25 ongoing projects, Marvel Realtors has started operations in Bangalore with three projects and Goa with two projects. This is in addition to the two projects in Mumbai. 90 per cent of the company’s portfolio is residential. Marvel has already started 2 million sq feet of commercial spaces. The aim is to increase this by 20 per cent with extremely high end world-class spaces and sustainable designs already being considered. The company intends to grow its high street retail portfolio with a “sale” business model rather than a “lease” model. We have already ventured into the leasing of assets and facility management. Facility management is already incorporated and has started generating profits inside of three years. Also this business is in sync with the real estate business. Future plans would also include getting into real estate portfolio management for clients. The company additionally has plans to acquire design and architecture companies that will further support the current business.



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

The Indian real estate market has been a bit sluggish for the last two years. However, in few micro markets, quality projects and developers of good repute have done comparatively well and have seen fairly good traction in sales velocity and price appreciation. There were encouraging signs from few cities like Mumbai, Hyderabad, Pune, and Bengaluru. In 2016 we expect a turnaround in the sentiments of buyers and developers. Customers across major metros have become savvier, hence the growth outlook and demand for luxury housing is very positive for the Indian market.

Also, it is observed that annual sales in the luxury housing segment is expected to witness strong growth in the next few years, since there is constant up-gradation of consumer's standard of living and purchasing power. At Marvel Realtors in 2016 we will continue to set benchmarks in luxurious living for our loyal customers with various new projects.



  • The firm has over 26 million sq. ft. of luxury residential, commercial and retail projects across cities, totalling to Rs.14,000 crore under various stages of development
  • Currently Marvel has 28 ongoing residential projects with 25 underway in Pune and the remaining 3 in Bengaluru
  • Recognised as India’s ‘Greenest developer’ by the IGBC Green Homes rating system, the company has the highest number of projects with platinum green pre-certification in India.

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