A Developer’s View

A Developer’s View

Raj Gala Shah (RGS), partner, Zara Habitats, shares the significance of elevators in their projects and how Horizon at Dadar West, Mumbai, exemplifies the company’s real estate development philosophy, in an exchange with your author (YP).

YP: How would you define your company’s approach toward real estate development?

RGS: They say, “anything in excess is dangerous,” and it seems that the real estate industry didn’t care to take notice of these wise words. With every developer under the sun boasting about offering three- and four-bedroom-hall-kitchen apartments (BHKs) or maybe even penthouses and sky-villas for sale, it seems that opulence was just arbitrarily deemed to be the way of life. It isn’t just the developers who were to blame, since the fascination for these larger-than-life living spaces was subscribed to by seasoned investors and homebuyers, too.

I must admit that, starting as a real estate investor, my partner and I were also addicted to the purchase and sale of these residences. It was during many such transactions selling and negotiating our real estate to home-seekers that we asked ourselves, “Is our generation or the next really going to be so swayed by this super-luxury residential living?” “Does that branded Italian wallpaper and furniture hold any asset value?” “Are developers really selling real estate, or are they selling high-end luxury interiors coupled with concierge service?”

All the introspection and logical reasoning culminated in “Zara Habitats,” our real estate development company, which was our answer to Mumbaikars’ question, “Are affordable homes a reality in Mumbai?”

At Zara Habitats, we plan our projects on these concepts:

• Total ticket price: We worked upon the concept of “smart size.” It is important to understand that the primary reason the real estate market was hit by slowing demand is that developers went overboard with big balconies, bigger decks, terrace gardens and everything but liveable spaces. By “smart size,” we believed that if these frills are done away with, and, instead, the buyer is offered a living space designed to make every square foot useable, the result would be a considerably compact flat size, thereby automatically reducing the ticket price. This makes the decision to own a home in the heart of the city more affordable and possible at a younger age.

• Monthly outgoings and asset value: Real estate is all about location. It is very important for any developer and buyer to understand and accept this universal truth. At Zara Habitats, we strongly believe the asset value of your home is directly proportionate to its location; the better the location, the higher the chances of appreciation. Instead of offering homes at mediocre locations but packaged with high-end interiors that would depreciate through wear and tear, it is better to offer buyers locations that will appreciate with time, enhancing the asset value. Also, when projects are a convenient distance from jogging tracks, gyms, pools, theaters, malls, schools, hospitals and other basic infrastructure, we do not need them built into the projects, thereby reducing the mandatory monthly maintenance cost for the buyer.

YP: What is the emphasis on providing amenities that fulfill lifestyle aspirations? 

RGS: Today’s market is more “need-driven” than “greed-driven.” Today’s buyer is well-traveled and believes in spending on experiences. Hence, we implement amenities like high-end security systems, robust water-saving plumbing systems and smart homes that can offer savings of time and money.

Developers should do what they do best — develop well-planned real estate, rather than retailing luxury brands and finishes. As far as concierge and ancillary pampering is concerned, let apps do it.

YP: What is the significance of elevators and escalators in your company’s real estate projects — their maintenance, safety aspects, etc.?

RGS: At Zara Habitats, we believe that time is the most valuable asset in today’s fast-track life, and our buildings grow taller with each passing day.

YP: How are the vertical-transportation (VT) requirements calculated?

RGS: Before finalizing the plans, we engage with consultants specializing in VT and work out the requirements based on the location and estimated footfalls, thereby determining the elevator cabin size and the speed.

The placement of the elevators is of prime importance, and this is finalized to ensure minimum distance to reach and, at the same time, it should also be easily accessible from key areas, like emergency exits, car parks, fitness centers, etc. 

The most important aspect to be considered is the width of the lift lobby, which is very important, especially in these days of social distancing. Hence, at Zara Habitats, our lift lobbies and passages are always planned to accommodate one-and-a-half times the expected traffic at any given point of time.

We adhere to all requirements of automatic rescue devices, emergency intercom facilities, closed-circuit TV (CCTV) monitoring and fire resistance. Considering the recent COVID-19 pandemic, we plan to upgrade our elevators to enable customers to operate them via their mobile phones, thereby making them contactless, adding a layer of safety and precaution. 

The maintenance of elevators is prenegotiated with the elevator company so as to enable the society to smoothly carry forward the annual maintenance contract at justified terms with affordable pricing. Apart from this, the facility-management company we appoint is also given training in safety and rescue measures to ensure it is well-prepared for any eventuality. 

YP: Looking at 2020 and beyond, do you see buildings in Indian metropolitan areas like Mumbai going even higher? How would this impact decisions regarding elevator selection?

RGS: Looking at 2020 and beyond, it is inevitable that buildings in metros like Mumbai will go higher, given how space-starved the city is. Also, the requirements of open spaces mandated by the new Development Control and Promotion Regulations 2034 will ensure that there is less ground coverage. Hence, to consume the available floor space index, newer buildings are bound to grow taller.

With this paradigm shift in planning, there will be a definite change in the need for elevators, especially in terms of speed, coupled with technology advancements, such as contactless travel. Reputable companies that can deliver on time and provide honest aftersales maintenance will be given preference, since the stakes are going to be high for any developer, both in terms of money and brand image.

YP: Which aspects set the Horizon project at Dadar West apart?

RGS: Horizon offers smart-sized homes for the next generation. Standing tall in the most prominent location of the city, it offers design of every space to maximize the carpet area to accommodate all lifestyle needs.

Horizon comprises smart-sized 1BHKs with an unrestricted view of the coastline and skyline, surrounded by social and academic infrastructure. Features include rainwater harvesting, a hydraulic car-parking system from Expert Parking Solutions with a capacity of 28 cars, an elegant entrance lobby with CCTV and video door camera, and two high-speed elevators by thyssenkrupp with a capacity of 15 persons each. There’s a multidish direct-to-home TV, generator backup for lifts and common areas and 24/7 security.

Homes at Horizon are vaastu-compliant, having been planned by a renowned consultant holding a PhD in the field. Amenities include home automation, full-height French windows, vitrified flooring, intercom facilities, door cameras, plaster of paris/gypsum walls, designer bathroom fittings, concealed electrical wiring and branded modular switches.

YP: Which locational advantages does Horizon offer?

RGS: Horizon offers time-saving conveniences. In a city like Mumbai, to live at an address that allows you to balance your professional and personal life is a boon. Its location allows residents to reach the hubs of Mumbai quicker than one might anticipate. Moreover, the location offers ready social and academic infrastructure:

• Proposed metro station (SEEPZ to Colaba), 5-min walking distance

• Matunga Road railway station, 5-min walking distance

• Western Express Highway, 10 min by road

• Eastern Express Highway, 10 min by road

• Bandra-Worli Sealink, 12 min by road

• Bandra Kurla Complex, 15 min by road

• Horizon offers lifestyle amenities, many geared toward wellness for adults and sports activities for children:

• Leisure and Health: Shivaji Park, Shivaji Park Beach (Arabian Sea) and Veer Savarkar Udyan

• Entertainment: Theaters — Citylight, Pardise E Square, Star City and PVR Cinemas

• Shopping: Citylight Market 

• Malls: Big Bazaar (Magnet Mall) and High Street Pheonix

• Places of Worship: Shitla Devi Temple, Udyan Ganesh and Siddhivinayak Temple

• Cuisine: Maharashtrian, Moghlai, Continental and Chinese

• Schools: Bombay Scottish School, Canossa High School (Girls), Billabong High International School, St. Michael’s High School and Victoria High School

• Colleges: D.G. Ruparel College, R.A. Podar College, Welingkar Institute and Ruia College

• Hospital: Hinduja Hospital