April 5 2016, 17.07 PM IST || Pocket News Alert
“The repo rate cut by RBI is a step in the right direction. Although there were higher expectations of the cut, this is certainly good news for developers as well as buyers. It is also encouraging to hear that going forward, the central bank’s policies will remain accommodative. We hope the banks will pass on the benefit to the industry.” - Kishore Bhatija, Managing Director – Real Estate Development, K Raheja Corp
The repo rate cut of 25 bps by RBI is a welcome move, but the developer community was expecting a bit more, said Rajesh Prajapti, Managing Director of leading realty developer Prajapati Constrictions.
“It would have been much more beneficial had the RBI reduced the repo rate by 50 bps, which in turn would have facilitated the banks to further reduce the rate of interest,” he said.
Mr. Prajapati expressed the hope that hopes that the National housing Bank , PSU banks as well as Pvt banks will reciprocate by reducing its rate of interest to ensure lower EMIS on loans.
Mr. Kishore Bhatija
Managing Director – Real Estate Development K Raheja Corp
Mr. Kishore Bhatija, a stalwart leader of the K Raheja retail holdings, is now poised to steer the Real Estate Development sector of the company to new heights as the Managing Director for the Real Estate Development for K Raheja Corp.
With his experience of three decades, Mr. Bhatija has know-how in all the aspects of the business, be it architecture or engineering, to different verticals of real estate – retail, commercial and hospitality. This acumen across sectors makes him the ideal candidate to lead the herd and oversee the entire functioning of the real estate development and ensure smooth-sailing of all the projects.
Prior to his new role in real estate development, the enigmatic Mr. Bhatija led the K Raheja Corp owned – Inorbit Malls, into a commendable retail model during his tenure as MD and CEO from April 2008 - March 2015.
Mr. Bhatija’s astute leadership and forward looking vision has played a noteworthy role in building Inorbit Malls into a front-runner in the category, and establishing the retail stronghold of the brand in other cities in the country as well. He will continue to add the same value to the real estate business, helping take the brand to new heights with a fresh vision and new perspective.
Mr. Bhatija has been associated with the K Raheja Group for almost 23 years. His past professional engagement was with Emaar MGF Land Ltd. where he led the Western India Business Development across the verticals of retail, residential, commercial, hospitality and townships.
His proficiency has been acknowledged with several awards, ranging from the prestigious ‘Business Achiever—SME’ at the Institute of Chartered Accountants of India - 2012, the IMAGES ‘Most Admired Shopping Professional of the year’ - 2010, the respected ‘The Retail Icon of the Year’ - 2011 at the Asia Retail Congress.
Rajesh Prajapati - Managing Director - Prajapati Constructions Limited
Profile : Mr.Rajesh Prajapati - Managing Director Prajapati Constructions Ltd
He is a visionary setting high benchmark in ethical business practices, including the ‘code of conduct’ for builders’ fraternity. He is instrumental in motivating small and large builders of Navi Mumbai to emulate and follow the same. Till now Mr. Prajapati has constructed and handed over more than a million sq ft res cum office space. In year 2015 one of his projects Prajapati Magnum was awarded as best project for its architecture nationwide.
Recently he was instrumental in setting of Navi Mumbai First, an NGO to work for the welfare and in the interest of Navi Mumbai, including NAINA.
He is the Founder-President of BANM – Builders Association of Navi Mumbai (2000-2004) and also has served as the Founder, President of MCHI – CREDAI Raigad (2010 – 13). Mr. Rajesh Prajapati, is a qualified mechanical engineer. Through his tireless efforts, Prajapati group has grown successfully by enhancing the customer delight factors and has become one of the most respected construction companies in Navi Mumbai and Hyderabad in the residential and office premise sectors. Mr. Rajesh Prajapati also heads an Information Technology company M/s Fauna Technologies as its Chairman. This company provides ERP solutions to various industries more prominently, the diamond industry.
Mr. Rajesh Prajapati has always taken up issues faced by the real estate, Infrastructure industry and consumers, voicing concerns of the developers to competent authorities in the government. Amidst his busy schedules, being a spiritual person, he serves as Secretary for ISKCON-Kharghar and Managing Trustee for International Arhatic Yoga Ashram – Pune. He was District Governor of Lions Clubs International in the year 2010-11. He is an avid reader, a sought-after speaker and a well known philanthropist.
Mr. Rajesh Prajapati has been fondly conferred with “Jewel of Navi Mumbai” award by Indian Merchants Chamber among other awards and accolades that he has won for himself.
1. Constructed n handed over more than a million sq ft res cum office space
2. Chairman of Fauna Technologies which provides ERP solutions to various industries more prominently, the diamond industry.
3. Awarded best project for architecture nationwide for P Magnum last year .