- 45% YoY growth in value of transactions
- 20% unit growth in January 2021
- Excellent response from buyers to projects across the board
- Gated communities and large spaces preferred by buyers
- CREST, Facility Management, lauded for efforts during the pandemic
- New projects in the pipeline
- Rustomjee is now hiring
MUMBAI, India, March 3, 2021 /PRNewswire/ -- The year 2020 has been a landmark year in more ways than one. While there have been several hurdles that the real estate sector in particular had to face, Rustomjee has persevered and has registered an impressive growth record. Bucking the general trend, Rustomjee has posted a 45% growth in terms of value of transactions till January 2021 as against the same period last year. Moreover, it is estimated that this could well increase to 60% by the end of the financial year. In terms of unit growth, the percentage growth is 20% and is expected to increase to 30% by year end. The government's initiative to give a boost to the real estate sector by reducing stamp duty till 31stMarch 2021 is expected to result in a further increase in sales in the last quarter of this financial year.
Real estate continues to rank as one of the largest employers in the Indian economy. As part of this rapidly growing sector, Rustomjee is now looking to expand its workforce and is seeking professionals who are passionate about real estate and working with one of the most reputed names in real estate.
Rustomjee's projects have always been appreciated by home buyers for their quality construction, excellent amenities and on-time delivery. The response from buyers and investors has continued to be excellent for Seasons, Paramount, Elements, Summit and the premium office spaces - Central Park Business Spaces. This includes the new launches of F wing in Paramount and D wing in Seasons. In fact, ready to move in apartments at Elements are almost sold out, with last few ready to move in residences left.
Rustomjee's gated community projects have garnered much attention, especially during the lockdown period of the Covid-19 pandemic. Space, the need for it, came to gain precedence during the long months of lockdown. The work from home culture and on-line schooling have made the requirement for personal space within the home imperative. Besides, wide open spaces and landscaped gardens within the gated development allowed residents to unwind and experience nature which works as a great de-stressor. People also came to realise the importance of living in gated communities which were self-sufficient and where residents' needs were taken care off by an ever vigilant management team. In fact, Rustomjee's CREST, Facility Management has done as excellent job in ensuring safety measures, maintaining cleanliness on the premises and following all protocol during the pandemic. Besides providing for all the essential needs of the residents like groceries and essentials, they also took special care of senior citizens who were living on their own and unable to fend for themselves.
Standalone projects have also garnered impressive sales, with Garden 6 in Dadar Parsi Colony being fully booked and Yazarina III also seeing increased inquiries and bookings.
Rustomjee has several more projects in the pipeline across the MMR at various locations, including, Bhandup, Bandra East, Dahisar and many others.
Mr Percy S. Chowdhry, Director, Rustomjee Group, announced, "We, at the Rustomjee Group are very proud of the accomplishments that our entire team has achieved, even in this most arduous year. It is through sustained efforts and unfailing strength of spirit that today Rustomjee has emerged with such record numbers and impressive growth rates. We appreciate the trust our buyers and investors place in us. We will carry our legacy of uncompromised construction quality, thoughtfully planned projects and innovative design into the several new projects that we have on the anvil."
About Rustomjee Group:
Rustomjee has carved a niche for itself in the ever-growing real estate sector, with a portfolio that includes 16.6 million square feet of completed projects; 10.9 million square feet of ongoing development and another 22 million square feet of planned development in the pipeline, spanning across the best locations of Mumbai Metropolitan Region (MMR). Their portfolio currently includes two very large townships, residential spaces, office complexes, retail developments, spaces for healthcare and education spread across Prabhadevi, BKCAnnex, Khar, Off Juhu Circle, Kandivali, Borivali, Virar and Thane.
Rustomjee lays emphasis on adding value to the lives of their homeowners through their core business, their CSR initiatives and philanthropy. They have strived to ensure that every blueprint includes child-friendly spaces for parks, playgrounds, and learning rooms and thereby encouraging families to spend quality time.