: Mr. Ranjeeth Rathod, MD, DRA Says
An article from Our Building & Construction
DRA with
a base in Bangalore, the IT Hub of the country. Pioneering residential real
estate in this city, the firm has developed more than 1 crore square feet in
about 75 residential & commercial projects during its existence.
P
The
Firm’s promoter is Mr. Dinesh Ranka and has eminent people on the board. Mr.
Ranka is the chairman of the
group and his son-in-law Mr. Ranjeeth Rathod is the MD. It has its office in
Chennai and Mr. Rathod is
looking after its functioning.
DRA is a
partnership of Dinesh and RAnjeeth. While Ranka is a brand for Bangalore, DRA
is for Chennai. The
company is a member of CREDAI (Confederation of Real Estate Developers
Association of India).
Mr.
Rathod has strong affiliation to Chennai as ‘Kanaiyazhi’ (In
Tamil கணையாà®´ி) – the Tamil literary monthly run by his father – reveals.
Mr. Daman Prakash, who is in the business of precious metals, manages the
journal through his Dasara Trust.
An
interaction with Mr. Rathod enlightens with more facts about the firm. Here are
some excerpts: The
Bangalore based DRA has more than 3 decades of standing in the realty market and its
brand ‘RANKA’ is a household name
in Bangalore.
''There is a specific
group in Chennai that prefer only villas. There are only 5 to 6 villas projects
from namely Janani Homes, Casa
Grande, Eesha Homes, Pacifica, XS Real and CDS. It is to be noted that sub-1
crore project is very less in the
area and hence believe market will absorb the product.
On a query of villas
in Mahindra World City, Rathod cites budget constraints for the potential buyer
class in that area for such
projects. The area does not warrant huge demand for villas. With respect to the
difficulty in handover of the property on schedule as faced by many leading
players,
we have gained very
good learning experience with our six years of association with L&T. We
learnt a lot of core values from them which helped us in handling this issue
meticulously.
We learnt planning
and execution from L&T. We followed
the principles of the global conglomerate in implementation of a project. We got
all approvals required for the first phase of our project at Mahindra World
City and even arranged the
working capital from the bank eventhough we have not used for sometime. When everything is
ready, we started our marketing efforts. Thus we were able to deliver what we
claimed.
And in fact, we used
to inform our customers in advance about delivery of the product. On the ethics
and virtues of DRA, we give the customers
the best quality and service. We use standardized and approved products and
materials only.
On future plans of
the company, we plan to focus on Chennai for the next 2 years, consolidate and
establish our brand name.
Later we will move on
to other cities of Tamil Nadu. On the trend of
the real estate sector, I believe the industry growth has saturated, and in
fact, the market dipped in the last
one-and-a-half year. It is now in the consolidation phase. One cannot expect
the realty
market to witness
exponential upsurge of the past decade to return so soon but gradual growth can
be witnessed hereafter.
For further details
contact: Phone:
+91- 44 – 45607827, +91- 44 – 45607828
E - mail: admin@draestates.com
Web site:
www.draestates.com
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