Transformative VT

Prashant Mewada (PM), head of projects, DLF, shares perspectives with your author (SSP) on the rising importance of elevators in people’s lives and real estate.

SSP: How has the significance of elevators grown over time? To what extent are they being appreciated?

PM: Elevators have had a significant impact on the modern world. But today, when we travel in elevators, we do not give much attention and appreciation for how they have made our lives easier and much more comfortable than before. People who work in high-rise offices or live in tall apartments use elevators every day. Elevators have influenced modern-day life and transformed the world. Primarily, the only time we pay attention to elevators is when either their doors remain open for too long or if they are making weird sounds while operating.

SSP: How has vertical transportation (VT) impacted our lives and real estate development over the years? 

PM: The wide use of elevators has not only changed the skyline, it has also had a significant socioeconomic impact. Tall buildings exist by the grace of elevators, not vice versa. 

The most luxurious apartment buildings are more than 40 floors tall, and most people living there belong to the upper-middle or elite class. Therefore, they should not be looked at as only functional. They are measured as a lifestyle amenity and are amplified to be part of the dwelling.

SSP: Given the prevailing scenario, how do you envisage the future of real estate development and its implications for VT?

PM: With increasing population density in cities, the future is in tall buildings. This will change the dynamics of elevator selection between the affordable and luxury segments.

SSP: How has RERA influenced VT decisions among real estate developers? What is the scope for elevators in DLF projects?

PM: Most VT companies are multinational corporations (MNCs) and have their own systems. This is a key factor in selection of elevators for timely completion. With RERA, time is of the essence; it has become a key factor. As most elevators for tall buildings are imported, it has become a challenge. Since we have a Pan-India presence and several projects in the pipeline, the scope is massive.

About Prashant Mewada

With three decades in the real estate industry, Prashant Mewada is skilled in engineering and construction. He has managed various prestigious developments across India. A graduate of the National Institute of Construction Management and Research in Pune, he has held leadership positions at major real estate companies. 

About DLF

Founded in 1946 by Chaudhary Raghvendra Singh, DLF started with the creation of 22 urban colonies in Delhi. In 1985, the company expanded into the then-unknown region of Gurugram, creating living and working spaces for the “new Indian global professionals.” Today, DLF is the largest publicly listed real estate company in India, with residential, commercial and retail properties in 15 states and 24 cities.