The ongoing pandemic has impacted the market severely and some Business leaders have taken this COVID-19 pandemic as an opportunity in disguise for India. Saubhagya Vardhan is Chairman and Managing director of Oikoshreem infra private limited. Saubhagya in conversation with Business rankers shares his goals, challenges, and talks about his strategy and future plans of his company, Oikoshreem.
Anita Choudhary @BR Bureau
“As a young entrepreneur I chose the real estate sector because I have some valid data for that by 2040, the Real estate market will grow to Rs 65,000 crore (US$9.30 billion) from RS12,000 crore (US$ 1.72 billion) in 2020. Real estate market will grow to US$ 1 trillion by 2030 and it will contribute to 13% of the GDP by the year 2025” said Saubhagya Vardhan.
He realized that states like UP have still lacked a professional real estate service firm of Global standard and it firmly adds value to the client investment portfolio. “There’s a huge unorganized market worth 120 Bn $ in India where only large developers are there but no large distributor,” he added further.
By taking the opportunity he decided to start his journey from Lucknow as the city has the potential to attract home buyers from other districts due to rapid growth in Infrastructure. He and his team aim to tap the cash-intensive, unsegmented low-ticket size plot sale market and justify themselves as a proptech plot aggregator platform using technology and logistics on the scale. Saubhagya and his team started an international consultancy Oikoshreem with the approval of the Security and exchange board of India (SEBI) and Real estate Investment trust (REIT) which gives rights to all kinds of investors to invest in the Indian real estate market.
A sweet home is every person’s dream and people often hassle a lot for it but Saubhagya has been making this path easier for the people with Oikoshreem. Oikoshreem eliminates any hurdle present in transaction experience and becomes relevant in customized, responsive customer relationship handling and bringing hassle-free buying process automation to each buyer without charging any fee. Olkoshreem markets cover every buyer from EWS to Middle-class luxury real estate. Currently, in Lucknow, their priority is volume distribution of low ticket size product sales while in primary markets of tier1 metro cities in India, they focus on selling luxury real estate to NRI clients and their existing privilege club of HNI’s clients.
COVID-19 has caused a shortage of money in the market and a feeling of uncertainty in everyone. Payments are often delayed in this period and payment defaults are a hard reality but luckily Oikoshreem is untouched by it as they depend on escrow accounts for revenue collection and in their plot segment, they have immediate possession and upfront payment system running. With good management and foreseeing policies, they can manage their work smoothly.
Sharing his opinion on Business Rankers on working amid ongoing pandemic conditions Saubhagya said “ COVID-19 is a worldwide universal epidemic which disrupted regular construction supply chains everywhere, therefore, we must come to terms with the new reality. In May itself, the Ministry of Housing & Urban affairs had already extended the deadline of projects by 6 months and further up to 3 months ad-hoc. But delay in construction is beyond human control in the present scenario. Presently now after unlocking 5.0, I see no critical labor shortage in the domestic market”.
With the ongoing pandemic, the real estate business is witnessing a new trend as the customers avoid going outside or investing in grand and luxurious real estate projects. Oikoshreem under the leadership of Saubhagya can adapt itself with every new trend, they can reach desperate buyers in immediate need of moving into their apartment but still, he can’t nullify the fact that big-ticket size units are harder to sell in the present market. A new trend can be seen among tenants in the post-COVID world that everybody wants to pay their EMI’s towards owned apartments rather than rent. This upgrading class of new homeowners is a strong hope for the industry.
As a managing director, Saubhagya has constantly proved himself as a star performer. He has handled challenges and outshone his competitors. Challenges are part of his job so he is not afraid of them and even in the corona crisis he is handling everything appreciably. In the hardship he follows his heart and always does what is right for the customer, his customer is always his priority. He firmly believes that patience and perseverance are two characteristics that every leader should possess. He is a reader and a learner who always craves knowledge. As a leader, he is optimistic toward the future but he is always ready to face the awful days also.
Real estate is looking for a fresh start in 2021 and Saubhagya and Oikoshreem are ready for the coming challenges and opportunities. As an organization, they have set high goals for themselves and are working vigorously to achieve it.