Haridwar has seen a massive real estate boom in the past two decades. Much of the credit for this real estate development goes to industrial townships by bodies like State Infrastructure and Industrial Development Corporation of Uttarakhand Limited (SIIDCUL) and focused efforts from corporates.
Hero Realty - The real estate arm of Hero Enterprise, entered into Haridwar real estate market around a decade ago and has influenced the dynamics of organised real estate development in the city by developing integrated industrial parks and residential townships in the city. It is now coming up with another branch of BML Munjal Green Meadows School at its Alaknanda township on National Highway - 58 for which the foundation stone was laid by the executive director of Hero Enterprise, Shefali Munjal in presence of Nagaraju Routhu, CEO of Hero Realty. The Pioneer spoke to Routhu about the recent developments and vision of the company for the development of the region.
In the past two decades, real estate industry has seen sudden rise in Haridwar. Does spirituality propel real estate boom?
The government is promoting spiritual tourism here in Uttarakhand and many people across the country come here wishing to own a home in this region. To cater to the needs of such enthusiasts, we have fully furnished studio and apartments at Holiday Homes, Haridwar Greens at the foothills of Shivalik hills.
What is the new project being undertaken by your company in Haridwar?
We have Haridwar Greens - an integrated township spread over about 50 acres near SIIDCUL. About 700 families are already residing in Haridwar Greens. We have recently delivered homes at our Gharaunda project near Denso Chowk, Haridwar. There is an imminent demand of organised plotted developments in the region wherein buyers can build their own homes. To meet their needs, we are now geared up to launch new phases in our Alaknanda project opposite Patanjali Yog Peeth on NH-58.
What are the prospects for employment of local youths in various projects of your company?
Real estate and construction sector is the highest employment generator for the unskilled and semi-skilled workforce. To deliver a sustainable real estate development model, one has to develop the local workforce. For instance wherever we have undertaken our projects, we have taken numerous steps for enhancing the skill levels of local workforce which in-turn enhances the local economy. Most of the building material too is purchased from local traders thus enriching local economy.
What is the success mantra of Hero Enterprise?
Two fundamental principles have been our motto from day one since 1956 when the Hero group was started by Brij Mohan Lal Munjal, and his brothers – building long term relationship while maintaining transparency and keeping our promises.
What about the Alaknanda project?
Set to emerge as a premier township of Haridwar, Alaknanda is being built on 91 acres of land and plot pricing starts at Rs 16 lakh. Development work in initial two phases of the township is already completed and the rest is underway. BML Munjal Green Meadows School at Alaknanda will be operational by 2022 which would further enhance the value proposition for our customers. The school running in Haridwar Greens already has more than 1,300 students.
What is your future vision for India?
As a nation, we are a 2.5 trillion dollar economy and by various estimates our country is likely to grow up to 10 trillion dollars economy by 2030. We have analysed the dreams and aspirations of youths under the age of 35 years, who form 80 crore of Indian population. In our product design, we consider the needs of young India along with kids and elderly ones so as to provide efficiently designed homes.