Boom in Real Estate by 2020 – By Boman Rustom Irani

There are many conflicting facts that one will face when looking to purchase a home in the current scenario. If you are one who is interested in real estate as a long term purchase then you have to make the correct choice. To do so, you need to have a proper understanding of the possible boom in real estate in the next ten years or so. So what is it that will define a great opportunity when you are looking for a long term investment? Before that, let us look through the possibilities of real estate in the present and the near future by Boman Rustom Irani:

• Echo boomers are stepping out of their baby boomer parents’ homes and have now started going to college and becoming a part of the working population. This means that there is a very high volume of immigrants all over and this is creating a high wave of demand for rentals in particular.
• The other major factor adding to the demand for rentals is the increasing age of the boomers.
• The next point to be taken into consideration is that the boomer who own homes but do not have their children living with them are basically faced with the question of what to do with the extra property that they have. Since the market conditions are not exactly favourable for the selling for real estate property, renting of this extra space becomes the top priority for everybody. This, in turn places a downward pressure on the market thanks to the whole substitution effect – there is an increase in the number of households, which effectively suppresses the need for new homes.
• The boomer children are getting back on track with families that are comparatively smaller. This has resulted in a more limited housing demand.
• The pressure put on by rising taxes and the increasing rates of interest will definitely dampen the possibilities of new construction. This will only add to the pressure downsizing the housing needs.
• Many might lose confidence in investing in a house as a wealth repository due to the losses from the recession, the increase of credit requirements for home purchases and the increase in down payment. All of this will only turn buyers to renters, to an extent where renting a home may soon become the norm rather than buying homes.
• The growth of population has also slowed down considerably and this might also place some pressure on new housing and infrastructure.

So where exactly does the “boom” in real estate take place? Keeping all of this in mind coupled with the development of structure and architecture, let’s see how there will be a boom in real estate by 2020.

• Properties will have timeless architecture, which provide great lifestyle features like easy transportation for the masses, easy access to employment, shopping, walking and many more. Structures like these will be the future of real estate and will be big investments of the time.
• Homes that are considered as single-family homes in the current times, will be supporting multiple renters in the future. A few minor changes to the homes and the entire value of the house may happen.
• Futuristic homes will be highly efficient for living with features like low utility costs and easy maintenance.
• Properties with the optimum combination of location, accessibility, opportunity as well as quality of living will indeed upgrade the economy values.

Given the rate of development currently seen, real estate by 2020 will have most of its structures being a wonderful combination of all of the above-mentioned features. Providing luxury features at increasingly competitive rates is the aim of most real estate developers. Overall, the buyers stand to benefit the most – By Boman Rustom Irani.

To follow Boman Rustom Irani, you can visit his linked-in and FaceBook profile .

Boman Rustom Irani – Success Story of a Construction Tycoon

The corporate counterpart of the two famous ‘Boman Iranis’, Boman Rustom Irani is the driving force behind the success story of the well-known real estate brand ‘Rustomjee’. He founded the Rustomjee Group in 1996, and now serves as its Managing Director and Chairman.

In December 2006, Mr Boman Rustom Irani got married to Perizaad Zorabian, who is a Bollywood actress well-known for her roles in movies like ‘Bollywood Calling’ and ‘Jogger’s Park’. While she is currently the proud owner of a restaurant called 'Gondola' in Bandra, Mumbai, he is an engineer who is pursuing a management program through the Harvard Business School. He is a first generation real estate developer and an entrepreneur, who now has over 16 years of experience and profound knowledge about the real estate industry. He has helped Rustomjee evolve as one of the foremost, most sought after and respected premier real estate companies in Mumbai today. He is a smart businessman who has used his experience, knowledge and international exposure to develop powerful and successful business strategies which has taken the Rustomjee group to new heights, so to speak.

Under his leadership and guidance, Rustomjee has become a respected corporate and a well-known brand in a very short span of time. Rustomjee was among the first real estate companies to receive an ISO 9001 certification in 2001, and has now upgraded to ISO 9001:2008 certifications. Rustomjee has constructed and delivered about 5 million sq. ft. of real estate area, developed as residential projects, townships and impressive commercial spaces in and around Mumbai. Two of the biggest, well-planned & best-selling integrated townships in Virar and Thane are both Rustomjee projects, with a prime focus on value-for-money housing.

KRPL’s upcoming projects headed by Boman Rustom Irani boasts of a development portfolio of approximately 30 million sq. ft. in the Mumbai metropolitan region (MMR), making it one of the leading real estate developers in & around Mumbai. These projects currently in the pipe-line include Rustomjee Seasons at BKC Annex, Rustomjee Paramount in Khar (West) and Rustomjee Summit in Borivali (East).
Mr. Boman Rustom Irani, being a self-made man, realises the importance of education and the plight of the underprivileged. Thus he founded and is chief benefactor of the ‘Rustom Irani Foundation’, which manages and runs institutes in all areas of education from pre-school to post-graduation, with more than 12000 students. His vision and mission to ‘Make Education a Priority’ has driven the Rustomjee Institutes to achieve an enviable reputation. He is currently the Secretary of Maharashtra Chamber of Housing Industry (MCHI) and also the President for MCHI - Mira Virar City Unit. He is also on the Board of Directors of Raymond Limited (India).

In June 2012, Boman Rustom Irani was on Radio One 94.3 in an interview with RJ Mansi to discuss the rising costs of residential apartments in Mumbai, proposed policies, affordable homes and disparity between demand and supply. He feels strongly that there must be a roof above every Mumbaikar’s head, and he discussed what efforts would be required to realize this dream. He passionately believes that ‘a home should be designed according to the people that live in it.’ Playgrounds for children, huge expansive gardens, gyms, clubhouses, jogging tracks & staircases especially created for the elderly, are all because Rustomjee cares about building homes with ideas, and not just steel and mortar. To know more about Boman Rustom Irani - Visit his FaceBook Page.

About Sh. Boman Rustom Irani

Sh. Boman Rutom Irani is the Chairman and Managing Director of Rustomjee Group, and is the driving force behind the success story of the Real Estate brand ‘Rustomjee’.

Born in 1969, Mr. Boman Rustom Irani is an Engineer currently pursuing a management program from the Harvard Business School. Mr. Irani is a first generation real estate developer and an entrepreneur with over 16 years of experience and profound knowledge about the industry. He has coupled business acumen with international exposure to put into use powerful and very successful strategies.

Having founded the Rustomjee Group in 1996, Boman has used his strong sense of acumen and expertise to evolve the Company as one of the foremost, most sought after and respected premier real estate company in Mumbai. Rustomjee was one of the first real estate firms to receive an ISO 9001 certification in 2001, and had now upgraded to ISO 9001:2008.

Under his leadership and guidance, Rustomjee has earned the distinction of a respected corporate and a well-known brand in an extremely short span of time. With a development portfolio of more than 30 mn sq ft in MMR region and a sound track record of sustained growth, customer satisfaction, and innovation, Rustomjee has constructed and delivered about 5 million sq. ft. of development through a number of residential projects, townships and impressive commercial spaces in and around Mumbai and has been ranked among the best developers in Mumbai. 

He is also the founder and chief benefactor of the ‘Rustom Irani Foundation’ which manages and runs institutes in all spheres of education from pre-school to post-graduation, with the capacity of more than 12000 students.  His vision aligned with his mission to ‘Make Education a Priority’ has led the Rustomjee Institutes to achieve an enviable reputation in a short span of time. The students from these institutes have made their presence felt at the State, National and International Levels.

Mr. Irani is on the Managing Committee of Maharashtra Chamber of Housing Industry (MCHI). He is currently the Secretary of MCHI and also the President for MCHI - Mira Virar City Unit.

Some of the key Rustomjee projects currently under construction are:

• Rustomjee Oriana, Bandra (E) – A lavish 21 storey tower comprising 3 BHK and 4 BHK apartments
• Rustomjee Elita, Upper Juhu – One of the most premium projects, comprises of a 14-storied residential tower with four levels of parking and a pristine landscaped garden
• Rustomjee Elanza, Malad (W) – High-end residential complex in the heart of a suburban business hub, having three elegant towers of 36 storeys each, offering 2 and 2.5 BHK apartments
• Rustomjee Urbania, Thane (W) – A 127 acre integrated township, designed with a fusion of open and covered spaces, offers residential, commercial, retail, education and entertainment areas, all in the same township. Amenities such as an exclusive clubhouse, landscape garden with a jogging track and also ramps for kids and senior citizens are some of the many benefits on offer
• Rustomjee Evershine Global City, Virar (W) – The largest township in the western suburbs and also the highest selling, being developed along with Evershine Developers. Spread across 217 acres, the township comes with a host of social infrastructure features like wide roads, 12 acres of recreational area, a large clubhouse, world class schools with large playgrounds, hospitals and a proposed shopping mall 

Some of the upcoming Rustomjee projects are:

• Rustomjee Seasons, BKC Annex
• Rustomjee Paramount, Khar (W)
• Rustomjee Summit, Borivali (E)
• Rustomjee Elements, Upper Juhu

Some of the completed Rustomjee projects are:

• Rustomjee Ozone, Goregaon (W)
• Rustomjee Central Park, Andheri (E)
• Rustomjee 7 JVPD
• Rustomjee 9JVPD
• Rustomjee Shimmer, Juhu
• Rustomjee La Solita, Bandra (W)
• Rustomjee Buena Vista, Bandra (W)
• Rustomjee Adarsh, Malad (W)
• Rustomjee Riviera, Malad (W)
• Rustomjee Acres, Dahisar
• Rustomjee Natraj, Andheri (E) – Commercial Office
• Rustomjee Aspiree, Sion – Commercial Office