The real estate industry is one of the fastest growing in India and remains to be one of the most important sectors of the Indian economy. Based on industry estimates, the real estate market in India will grow to be close to $1 trillion by 2030 and account for about 13% of GDP. New opportunities are emerging due to rapid urbanisation, improved infrastructure, increasing highway infrastructure and demand of planned communities, particularly in the state of Haryana.
With the National Capital Region (NCR) growing beyond the city of Delhi and Gurugram, cities like Sonipat, Ganaur, Panipat and other emerging growth corridors are experiencing a surge in demand for residential projects. The connectivity improvement plans like Delhi – Mumbai Expressway, KMP Expressway, and the infrastructure plans already in the planning stages have boosted Haryana’s status as one of the most promising real estate destinations in North India.
One such developer who has been closely following the trend is Divine Vision Infratech, a real estate developer from Haryana started in the industry since 2005. Managing Director Himanshu Luthra has made plotted developments, planned communities and a long-term strategy with customer trust the core of the identity of the company.
In talking about their journey, Luthra states: Divine Vision was created on the basis of one conviction: values precede business. He said real estate involves more than just building buildings, it’s about securing the trust of families as they enter into one of the largest financial commitments of their lives.
The housing market in India has undergone a paradigm shift in the last 20 years. In the past, home-buyers were mainly concerned with house size and house cost. However, there are a number of other factors which are now influencing purchases these days: connectivity, green spaces, security, infrastructure, lifestyle amenities and long-term appreciation potential.
This change has also had an impact on Divine Vision’s development approach.
The company decided to specialise in plotted developments as they offer more flexibility and freedom of ownership to buyers. Urbanization continues to grow and independent plots remain popular with people who prefer to have open space, natural light, improved ventilation and the ability to customize their homes to their specifications.
The experts are convinced that low-density residential developments are gaining popularity as land values rise in urban areas, and the new buyers are looking for a combination of urban connectivity and tranquility. Enhancing road connectivity and the inflow of migrants to towns on the outskirts of NCR has also contributed to the demand for plotted developments.
Divine Vision Infratech’s planning philosophy has been evolving over the years and is evident in the projects it has developed in the past, such as Divine City, Ganaur, Suraksha Enclave Phase C and OPS Divine Greens. As opposed to just developing land parcels, the emphasis has been increasingly towards the development of full residential communities.
The current phase of planning for projects starts well before construction itself, Luthra said. Roads and their layout, internal connectivity, parks and green spaces, security systems, drainage, water supply, electricity infrastructure and accessibility are taken into account in the early planning phase. This whole package is designed to enhance the everyday use as well as the value of the property.
Another important aspect of the business’s strategy is location.
Instead of considering a project site solely in terms of the existing market demand, Divine Vision takes into account long-term development factors such as infrastructure expansion, industrial development, job creation, transport connectivity, and government development plans.
The company’s philosophy is in line with the real estate industry in India. The findings of the research always reveal that infrastructure development is one of the effective factors for land appreciation throughout the industry. Smaller towns turn into future residential and commercial centres with the construction of new highways, expressways, metro connectivity and industrial corridors.
Luthra thinks sustainable demand is established when individuals have quality living conditions and jobs. So, it is vital for the company to identify potential sites where growth can continue in the future.
Trust remains a key characteristic of India’s real estate market. Since the Real Estate (Regulation and Development) Act (RERA) was rolled out, transparency and accountability have been increasingly becoming a priority for developers across the country. Today’s buyers demand communication, prompt delivery and follow-up post-possession service.
Divine Vision Infratech’s pursuit of customer confidence is realized by being consistently available and fulfilling on all commitments during the entire buying process. The company feels that credibility is built project by project and customer referrals are one of the most powerful means of success.
In a competitive market including both national developers and regional players, Divine Vision feels that its local insight of Haryana is its major strength. Over the years, the company has gained an intimate understanding of the shifting preferences of buyers, dynamics of local markets and emerging investment spheres, enabling it to quickly adapt to market demands.
In the future, Haryana’s real estate sector will gain from improved connectivity within the region, industrial growth, and the rising urbanisation and ongoing amalgamation with the NCR. These developments are likely to drive the demand for good planned communities with infrastructure, accessibility, and quality of life.
Divine Vision Infratech’s future plans are all about responsible growth and not aggressive growth. This company will be enhancing its local portfolio where there is greatest potential as well as expand its development pipeline with well-designed communities based on connectivity, open space, infrastructure, and long-term sustainable value.
The company’s message has stayed the same for 20 years after it was established. Real estate isn’t a measure of only how many projects are delivered, it’s a measure of trust gained by every customer and every community that’s formed. In an industry where credibility equals long-term success, Divine Vision Infratech wants to continue to expand its business while remaining dedicated to the principles that launched it in 2005.
