July 6, 2023
Mr.Nanda Kishore, Managing Director, Featured Article on Hindu Business
Ramky Estates plans to construct 3–4 million square feet of storage space during the next five years. According to Ramky Estates, a division of the Ramky company, it is working on real estate projects in Chennai, Bengaluru, and Hyderabad, totaling 10,000 crores and 15 million square feet. The next 3 to 5 years are probably when these initiatives are finished. We currently have 3,600 crores worth of projects in the works. According to Ramky Estates Director Tarakesh Rajesh Dasari, we have 1,000 acres of property available in these three towns. On Wednesday, he stated during a news conference held here that the company has already finished building 10 million square feet of space, totaling 3,500 crore. With residential unit prices ranging from Rs.45 lakh to Rs.5 crore, we anticipate a total booking value of more than Rs.2,000 crore in 2023–2024, according to M Nanda Kishore, managing director of Ramky Estates.
He explained that the real estate sector was mostly local in response to the question of why the company decided to focus just on a few locations and the residential market. The commercial segment is a market that fluctuates a great deal. The demand has enormous peaks and valleys. There must be a lot greater appetite for risk. He stated that we have chosen to maintain the 90:10 ratio, with real estate making up 90 and the remaining commercial projects the remaining 10. However, the company intends to enter the warehousing sector in light of the growing demand for e-commerce players. He stated in the following five years, we are looking at developing 3-4 million square feet of warehouse space.
The business has introduced RamkyVerse, a metaverse window on Ramky's projects in numerous cities, to simplify it for potential homebuyers. Users can view the properties virtually as an employee of Ramky helps them navigate and answer their questions. On July 14, the facility will go live. To know more about the intricacies of India’s bright future in the field of Real Estate, click on the link.