The year 2016 has been a momentous one for India and the world. Rustomjee too has gone from strength to strength, setting new benchmarks in quality, construction and design. We take a glance at the year that was and trace the journey so far:
PROJECTS PAR EXCELLENCE:
In the year 2016, Rustomjee has, unwaveringly, continued with its sound business practices and unstinted dedication to providing the best homes for its end users, across different segments of the real estate market, which included the Rustomjee Meridian, a mid-segment project in Charkop village, Kandivali(W). At the integrated township of Rustomjee Urbania, Majiwada, Thane (W), Sky Homes at the tallest tower in Thane (W), Azziano, received a very good response for the 2 and 3 BHK apartments. Another tower in the same project, Aurelia, offers aspirational 2BHK homes and has witnessed an overwhelming response since its pre-booking sales. The project also witnessed a deluge of 7 retails brands occupying space in the township until recently.
Rustomjee also set a record of sorts when it won the 33-acre Abhyudaya Nagar redevelopment project in south Mumbai, worth Rs 5,000 crore. This was achieved by getting the majority approval of 26 out of the 48 co-operative housing societies, a feat in itself!
THE DEMONETISATION WAVE:
As a testament to the faith that buyers and investors have in the Rustomjee Group, the company witnessed record sales bucking the downswing in the realty market brought on by demonetization. The sales were recorded for its marquee projects, ‘Rustomjee Elements’, Juhu, ‘Rustomjee Paramount’, Khar ,‘Rustomjee Seasons’, Khar(W) and ‘Rustomjee Urbania’,Thane(W) in last 3 months.
Mr. Percy Chowdhry, Director, Rustomjee Group felt that demonetization will have a positive impact, “demonetization will increase transparency in the real estate sector and curb unaccounted cash transactions. Being a professionally run organization, Rustomjee has carved a niche for itself in the ever-growing real estate sector over 20 years and has always believed in transparent transactions which are for the benefit of the buyer and society as a whole.”
Living up to its tagline, ‘Its Thoughtful, Its Rustomjee’, the company unveiled a My Space amenities floor, with world class facilities for its residents at Rustomjee Oriana, BKC. The most amazing thing about it was that it came as a complete surprise to the residents as it was not a part of the promised project plan. At the Rustomjee Paramount, Khar (W), the B Wing at Rustomjee Paramount has been thoughtfully christened Vogue Residences, a name that immediately conveys the image of a residence that exudes style and panache. The residents of Rustomjee Urbania got a pleasant break from the ennui that sets in during the summer holidays with the Urbania Summer Fest 2016. This exuberant fest witnessed participation of nearly 1000 families from Thane and other parts of the city.
Rustomjee also proudly associated with TEDxGateway as an associate sponsor bringing to Mumbai some of the most creative and active thinkers from across the globe. 500 people participated in the ‘Pinning your hopes’ activation organized by Rustomjee at TEDx Gateway 2016 which benefitted the ‘Educate A Child Initiative’.
Rustomjee Academy for Global Careers (RAGC) is a part of Rustomjee’s corporate social responsibility and the students of Construction and Hospitality from RAGC once again emerged as winners and won Bronze medals in the Bricklaying and Restaurant Services respectively, at the national finals of India Skills Competition 2016. At the Skill India Exhibition held in Kanpur recently, Rustomjee Group alongside other major organizations signed a memorandum of understanding with The National Skill Development Corporation (NSDC) to skill 10,000 employees working in the construction sector where Prime Minister Narendra Modi laid the foundation stone of the country’s first ever Indian Institute of Skills in Kanpur. Another feather in the cap for team Rustomjee.
CHILDREN ARE OUR FUTURE:
To promote holistic growth in children, Rustomjee initiated Leon’s World which has myriad activities not just for children but for families as well. Some of the outstanding programs organized at Leon’s World in 2016 included the Born Smart’s Mother – Toddler Programme and Leon’s World Winter Camp 2016 at Rustomjee Urbania.
Looking to the future, Mr. Boman R. Irani, Chairman and MD, Rustomjee Group on his overview for 2016 and outlook for 2017 said: “2016 has been an eventful year with announcement of major policy reforms like implementation of Real Estate (Regulation & Development) Act, softening of home loan rates and the rise in FDI in real estate & construction sector. The government has taken various steps to enhance customer confidence and bring transparency in the sector. With proposals like the Benami transaction act, GST in the pipeline, the trend is surely likely to improve in 2017. Demonetisation will also bring better results to reputed developers by making the market a level playing field. We are also hoping that Union Budget 2017 will bring significant reforms in the real estate sector and the future looks promising.”