Brexit will have impact, but boom expected in real estate too: Laxman Jaiswal

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India

05 Jul 2016, 11:55 am

An industry veteran, Laxman Jaiswal began his real estate journey two decades ago. In 2009 he founded ASCON INFRASTRUCTURE ( INDIA) PVT LTD and serves as its director now. In a chat with him, IBNS correspondent Sudipto Maity finds out the state of RE sector in Bengal and the scope it provides to the younger generation.

What do you make of the real estate sector now?

The real estate sector is potentially on a very solid ground. There is a boom expected with economic development and potential investment gateway for people. It is expected to overcome certain issues and offer huge prospects for its investors. The residential and commercial project, infrastructural project with government are on the upswing. Locally with a renewed faith reposed in this Government by the people of West Bengal we expect rapid growth in the real estate sector in forthcoming years after a slight lull.

Do you think Brexit will have an impact in the RE (real estate) sector, now that Britons have voted to leave EU?

Yes. BREXIT shall have two impacts, one is the immediate impact with the fall of the value of Pound and decreased investment and job opportunities and the long term impact would take a while for Britain to recover.

The job market would be affected with an estimated loss of over 1 million Indians. These are potential investors in RE sector and so Investments in the RE sector would obviously slow down from the region and also potential investors would now be more keen on safeguarding their own capital rather than making investment in the sector.

What lured you into the RE sector?

I was always interested in providing shelter to the people. Coming from a humble background myself I was motivated to offer roof for people at affordable costs and quality. I felt that being independent, providing employment to the needy and qualified and offering quality at affordable rates always guided me to the RE sector.

Why should youngsters join the realty business/sector? What's in it for them?

The younger generation is enthusiastic and they are well equipped to absorb rapidly changing technology in the RE sector. Starting from the architectural work to marketing, everywhere technology is getting changed by importing and embracing new technology.

I believe our youngsters are quite efficient to learn and implement the same for fruitful result.

What's in store for ASCON INFRASTRUCTURE?

ASCON has quite a few outstanding and innovative housing projects lined for its patrons in SHREE TOWER VII, ASAV ENCLAVE, ASCON ERA and ASCON PRITHVI. The USP of ASCON is its numerous satisfied customers who are more like our extended family. Not a single complaint is perhaps our biggest strength and we believe that even after we complete a project we remain responsible to our buyers with our service which is perhaps unmatched in the RE sector.

Do you plan to branch out? Do you have interest in any other field?

Yes, we have already diverse business interests as in the IT services, Media and Entertainment industry, Education and Medical sectors.

Where does Bengal stand in ease of doing business?

Bengal is an evolving state where the Government of the day is offering much relaxed and easier way of conducting business. We at the RE sector are very pleased the way things are functioning and looking forward to a boom and hopeful that millions shall benefit with affordable housing solutions with the support of the establishment in Bengal

In your 20 plus years you have seen at least four governments. If you were to choose one for being business friendly, who would you choose and why?

RE sector has witnessed changes in norms and current dispensation is definitely offering much better scope for functionality of companies in the RE Sector keeping within prescribed norms and parameters. Being friendly towards business is a fundamental to the growth of the economy of the state and this is a evolving process and usually. Governments establish a business friendly environment on a trial and error basis of policy making. So presently the Government is surely a very business friendly one with liberal policies making it easy for us to function.

Do you think post the Kolkata flyover tragedy, Indian construction and realty companies have taken a hit? How do you avert such tragedies, especially handling such a big unit?

No. This is a one off tragedy and surely shall have no impact on Indian construction companies strictly adhering to legal parameters and ours is a ISO certified company and we use the best of methods, materials and manpower, along with the safest technology.

#Brexit #Laxman Jaiswal

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