12 October,2023 05:48 PM IST | MUMBAI | BrandMedia
In the real estate industry, where innovation and vision are paramount, Kapil Gandhi, the Managing Director of Sigma One Universal, embodies an entrepreneurial spirit, creativity, and an unwavering commitment to excellence.
A Journey Rooted in Innovation:
After completing his graduation, he ventured into the world of contracting in 2001, marking the inception of his entrepreneurial journey. His contracting business achieved remarkable success, setting the stage for his future endeavours.
Before launching his first project, Kapil Gandhi embarked on a comprehensive research journey that spanned India and beyond. He visited over 108 sites in Pune alone, accumulating a wealth of knowledge and experience. With this he launched his first project, Sigma One.
Sigma One introduced groundbreaking innovations to the industry. It featured the first three-tier parking system in a residential complex, rubberized paint imported from the UAE, vehicle-free zones constituting over 50% of the project, hidden parking spaces, safe pathways around the building periphery, and exclusively indigenous materials for landscaping and soft scaping. It also boasted three-sided open apartments, terraces offering privacy, and tailor-made homes under the "A la carte Homes" concept. With a cumulative area of over 2 million square feet in Pune and Amravati, this achievement prompted the rebranding of the company, transforming it from Sigma One Landmarks to its current identity, Sigma One Universal.
A Dynamic Path of Growth:
Kapil Gandhi's entrepreneurial journey has been characterized by adaptability and strategic evolution. Initially, he balanced construction contracting and real estate development until 2010, when he shifted his full focus to premium real estate development.
Post-2016, Kapil Gandhi expanded into strategic investments, land trading, leasing, consultancy, equity partnerships, and even organic farming. Recognizing the potential in tier three and four cities, he commenced investments in these regions. In 2020, leasing became a prominent aspect of his business activities, managed under his Family Trust, encompassing commercial, retail, and residential leasing.
Currently, the focus is on prime areas across strategic investments, leasing, and development, with a keen eye on premium redevelopment projects.
Vision and Adapting to Trends
Kapil's vision for Sigma One Universal has always been rooted in delivering value to customers. He believes in meeting the true needs and desires of consumers. This commitment led to the development of the "A la carte Homes" concept, an innovative approach that deviates from conventional industry practices.
From 2001 to 2005, the real estate market was relatively stagnant due to conventional offerings and pricing. However, starting in 2005, there was a surge in demand for properties with unique features and amenities. This product-driven market approach continued to thrive until 2014, after which it transitioned into a price-driven landscape. The period from 2014 to 2019 posed considerable challenges to the real estate industry.
The COVID-19 pandemic brought the world to a temporary standstill, but the real estate market rebounded significantly after the initial wave. People began to recognize the paramount importance of owning their homes, leading to a surge in property purchases. The once "price-driven" demand swiftly shifted towards a "product-driven" perspective, with individuals seeking spacious, well-designed homes equipped with numerous amenities. In contrast to the past, where the average buyer's age was around 45, the new generation of buyers is notably younger, averaging just 25 years. Moreover, while buyers previously committed to repaying home loans over 20 to 30 years, the modern buyer opts for longer-term loans but manages to repay them in just five to seven years, often choosing larger apartments.
Government support, such as reduced stamp duty and favourable RBI policies, played a pivotal role in sustaining the real estate sector during the pandemic. Additionally, the introduction of the UDCPR in Maharashtra facilitated higher FSI, enabling developers to meet the demand for spacious homes without inflating prices.
In the current landscape, real estate trends are leaning towards specifications, spacious homes, high-rise buildings, and adherence to RERA-mandated project timelines. Developers are incorporating advanced technology, including AI-supported planning and execution, to streamline processes.
Future-Proofing the Business:
In the coming five years, Kapil Gandhi's primary emphasis will be on prime metropolitan areas and emerging locations in tier three and tier four cities. This strategic focus aligns seamlessly with the surging trends of reverse migration, substantial infrastructure development, and prevalence of remote work.
With India's promising growth story and the increasing investments from NRIs and OCIs, the real estate sector continues to offer opportunities. Kapil Gandhi's commitment to delivering value and embracing change ensures that Sigma One Universal remains at the forefront of the real estate sector, shaping its future through innovation and customer-centric solutions.
