Luxury Has to Be Unique, Says an Exec of One of India’s Largest Real Estate Companies

It’s not an exaggeration to say DLF helped construct trendy India. Since its founding in 1946, the Gurugram-based developer has grow to be the nation’s largest publicly listed actual property firm.

Together with places of work and retail properties, its 150 tasks embody a few of India’s most opulent residential developments. “We’re in super-luxury, luxurious and premium,” stated Aakash Ohri, DLF’s group government director and chief enterprise officer. “No different developer builds communities and presents existence on the dimensions we do.”

One in every of its latest tasks presents a window into DLF’s more-is-more method. The Camellias, southwest of New Delhi, is a mini-city of sixteen towers the place residences begin at US$6.25 million; a partial record of facilities contains golf programs, gyms, a cigar bar, a film a theater, a bakery, a wine lounge, a enterprise heart, a karaoke bar and a spa. To function all of them, DLF runs its personal hospitality firm, whose portfolio additionally contains resorts worldwide. “Facilities kind an enormous a part of decision-making for a purchaser at this stage,” Mr. Ohri stated.

From his workplace in Gurugram, close to Delhi, Mr. Ohri talked to Mansion International in regards to the significance of experiential advertising, how demand has soared for bigger areas and why luxurious is within the eye of the beholder.

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Mansion International: Are there preferences specific to luxurious property patrons in India?

Aakash Ohri: Luxurious isn’t area particular. The high-net-worth particular person wherever on the planet behaves equally and doesn’t differentiate. Louis Vuitton sells in India, London and Moscow, for instance. When it comes to supply, we’re at par with luxurious tasks wherever on the planet.

MG: The Crest, a DLF venture in Gurugram, just lately grew to become the world’s largest constructing to earn Platinum LEED Certification. Does that form of accolade assist with gross sales and advertising?

AO: I want it was about advertising. It‘s about our aware method towards tasks. We owe it to the surroundings. It doesn’t give us a premium in advertising. It doesn’t change anybody’s determination about shopping for. What it does is place us as conscientious.

MG: Did the pandemic have an effect on plans for any of DLF’s residential tasks?

AO: Effectively, as soon as a constructing begins development, you’ll be able to’t change it. What the pandemic has created is demand for extra unique and opulent tasks and greater areas. The demand for bigger merchandise has been the important thing, and utilization of out of doors area. So bigger residences with residence places of work and balconies have grow to be necessities.

MG: Have tastes modified round supplies? Some builders have stated clients are actually craving “hotter” supplies like wooden and leather-based.

AO: I don’t suppose our patrons have grow to be so granular. The benefit of our enterprise is that we’re delivering naked shells. We don’t end the residing areas of their entirety. Consumers can do no matter they need. Every house is completely different from the opposite. The truth that each residence is completely different is an enormous issue that defines our super-luxury enterprise.

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MG: Globally, who makes up your purchaser pool?

AO: Foreigners can’t purchase residential property in India. Regionally, we primarily get CEOs and professionals, like medical doctors. Non-resident Indians are additionally an integral a part of our market, making up 15%-20% of patrons. They arrive from Singapore and the Center East, together with a large chunk from the U.S.

MG: Facilities are an enormous a part of DLF’s residential tasks. What are clients asking for today?

AO: Individuals typically are available in with calls for for facilities, however we’ve put so many issues collectively beneath one roof that it’s mind-boggling for many patrons. We’ve acquired every part from a gymnasium with a rock-climbing wall, boxing ring, pilates and yoga to hair salons and life-size cinemas, eating places and pubs.

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MG: Has DLF explored co-branding with hospitality corporations, as so many builders all over the world have?

AO: We have now an impartial hospitality vertical run by its personal CEO. We’re strolling the speak and never experimenting with our companies. We put money into our folks and our service tradition. We pay folks properly, and typically they earn greater than resorts would pay them. Our hospitality enterprise is an extension of that. It additionally gives the service infrastructure for a lot of eating places, malls, and social golf equipment.

MG: Which cities do you may have your eye on over the subsequent few years?

AO: Undoubtedly Mumbai and Bengaluru, two huge cities the place we’re not there but, however will probably be. In any other case, we’re in most of India’s huge cities for our residential and workplace companies.

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MG: With the form of purchaser you may have, is safety a priority?

AO: Safety is a priority in every single place. It’s paramount, together with panorama and aesthetics. Individuals take a look at safety as a key ask. We have now a five-level safety system in each constructing, from CCTV and RFIDs [Radio Frequency Identification] to guards and different digital measures. We have now quick-reaction groups and a 24/7 central safety management room. It’s a really tight safety cordon. We had mounted guards on horseback at one level and assault canine. When there’s a safety want, we up it

MG: What’s your private definition of luxurious?

AO: Luxurious can’t be one dimension matches all. It’s customized made. It’s the consolation of safety—I must really feel protected. Luxurious is your life-style. And it’s the group you reside in, with facilities, area and security. If I wish to be in my nook and don’t wish to be disturbed, I ought to have the posh to do this. If I wish to mingle, I ought to have the posh to do this. Everybody prioritizes life otherwise. That’s what makes luxurious luxurious. It must be distinctive.

This interview has been edited for size and readability. 

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