Transcon has created projects for all kinds of realty segments, from affordable to ultra-luxury

- Shraddha Kedia Agarwal

Director, Transcon Developers

How do you assess the present status of the realty sector and what future you foresee in the coming years?

The luxury housing segment has witnessed robust growth in the past few years. There has been a phenomenal rise in buyers' interest in premium and luxury housing, especially after the pandemic. The future of real estate will involve an increased focus on added features, like roof access, common areas, and even designated workspaces. Investors operating multifamily properties may see these changes as early as this year, though they will only continue to evolve. The industry is anticipated to emerge stronger and more resilient in this coming year, as the worst has been left behind with a bright future ahead.

Can you give an overview of the ongoing projects? What is the total area under development?

Transcon has created projects for all kinds of realty segments, from affordable to ultra-luxury. Whilst upgrading peoples' lifestyles, our ongoing residential projects have managed to influence everyone who aims to own a house in their choice of area. Currently we have over 80 lakh sq ft under construction area including premium luxury apartments with amenities such as gym, swimming pool and much more. These projects are designed in the prime areas of Andheri, Malad, Mulund, Santacruz, Bandra, and Thane where we enrich lives in every corner with world-class amenities and comfort. Our pre-residential launches focus on utilizing sustainable materials. We are recognized with IGBC certification for most of our buildings.

As building materials have seen an overall rise in prices, how much this has affected the industry?

The pandemic-induced lockdown and the Russia-Ukraine war including other reasons led to massive price hike in building materials during the first phase of the quarter. We just overcame the impeding after-effects of the corona virus-induced lockdowns and when the industry started to breathe a sigh of relief, the prices of many raw materials has jumped drastically by a good 20-30 percent. The increasing costs have an imminent pressure on the developers which were feared to be passed on to the homebuyers. Although government intervention did control the aftermath and the developers have tried to soak in the price hike, the final pricing of the properties may be affected at some stage going forward.

How can modern technology revolutionize realty sector and bring down cost of doing business?

Technology continues to be a catalyst for change in all areas of business and industry, and the real estate market is no exception. A wide range of disrupting technologies including - AI, VR, IoT, and Blockchain can play a pivotal role in reshaping the real estate business. Such systems are in use by real estate investors to effectively control expenses, manage risks and gain higher returns using algorithms that are designed to predict and factor in individual investor concerns. Home automation is being increasingly sought after, with consumers seeking more convenience and knowledge at their fingertips. New homes now include smart features, such as automated video doorbells, remote-controlled curtains and even automated temperature settings and lighting controls. Amid the smart homes, there is a rise in demand for digital sensors to monitor aspects like occupancy, air quality and natural light levels. In common areas of buildings, residents request for LED lights, sensor-based streetlights and touch-less doors.

How is green transformation gaining pace in realty projects?

Presently, as climate change and environmental factors are largely influencing a variety of industries across the world, 'inventing, and reinventing the approaches' is the best way forward. Incorporating the concept of green buildings and sustainable structures is one of them. More and more high-rise buildings are utilizing eco-friendly materials and integrating renewable sources of energy into the architectural design such as rainwater harvesting, waste management and solar power. Green building saves 30-40% of the power consumption. Hence, reduced electricity bills will bring in huge savings. A green transformation in buildings is most likely to succeed in its objective if sustainable features are envisioned and incorporated right at the beginning. Further, the rise in demand for green building materials over conventional construction materials is expected to fuel the growth of the green building materials market in the coming years.

What are the sustainability initiatives taken by the company in terms of building materials, product solutions and technologies?

Transcon Developers is playing an assertive role in shaping the narrative and adopting global best sustainability practices. With its philosophy being to build sustainable spaces that enhance the quality of life, the residential and commercial offerings have been conceptualized to offer buyers an elevated lifestyle with conscious luxury being the focus.

Our projects are a pertinent exemplification of sustainable living amidst the lap of nature where most of our buildings are surrounded by verdant spaces and landscapes that are a result of the diligently followed rainwater harvesting practices within the township. Moreover, green practices are followed in the form of water management and sewage treatment management to support the conservation of vital resources.

We believe in the long run, real estate remains an attractive asset as compared to other investments owing to lower risk and better returns, and sustainability will play a huge role. Hence, we encourage buildings with sustainable architecture, design, construction and operations because green buildings can reduce carbon emissions, energy and waste; conserve water; prioritise safer materials and lower our exposure to toxins.

With the mantra of Reduce, Reuse, and Recycle, we have clear policies limiting waste on key construction items. We make a concerted effort to separate and recycle our waste to reduce the amount we send to landfills.

Transcon constructs homes by implementing sustainable practices for a better tomorrow. Sustainability, energy conservation, and the development of green buildings are all important aspects of our work. We recognise our organisational responsibility to the environment, urban fabric, and the lives of those who live and work in our development. We believe that the convergence of our business goals with the sustainability goals that we have set for ourselves will shape the growth of our company.

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