Bengaluru, September, 2024 - HDFC Bank, in association with Mana Projects, hosted "Spectrum," an exclusive gathering of industry leaders and visionaries at Aloft Bengaluru. The event brought together over 110 distinguished guests, including leading real estate developers, investors, and economic experts, to discuss the future of Bengaluru's real estate market and provide insights into the Indian economy.
Mr. Manish Tewari, Regional Business Head – East & South, HDFC BANK & Mr. Madhusudhan Nair, Zonal Head, EBFS at HDFC BANK delivered a welcome note which was followed by the first session, a panel discussion titled "Develup: Navigating the Future of Bengaluru Real Estate" featuring seven eminent panelists who delved deep into the opportunities, legalities, and emerging trends shaping the sector.
Sankey Prasad, Chairman & MD of Colliers, remarked, "Bengaluru's real estate market is showing remarkable resilience. We're seeing a surge in demand for both residential and commercial properties, driven by the city's robust IT sector and startup ecosystem."
KT Chandy, Corporate Tax & Regulatory Service Partner at E&Y, shed light on the regulatory landscape: "Recent policy changes, including the implementation of RERA and GST, have brought much-needed transparency to the real estate sector. This is boosting investor confidence in Bengaluru's market."
D. Kishore Reddy, Chairman & Managing Director of Mana Projects Pvt Ltd, added, "Sustainability and smart home technologies are no longer luxuries but necessities in Bengaluru's real estate landscape. At Mana, we've seen a 40% increase in demand for green buildings and smart homes in the past year alone. Developers who adapt to these trends will undoubtedly lead the market in the coming years. This shift is driven by a growing awareness of environmental issues and the desire for more efficient, comfortable living spaces."
He continued, "We're also witnessing a significant transformation in the commercial real estate sector. The rise of remote work has led to a reimagining of office spaces. We're developing hybrid models that combine traditional offices with flexible co-working areas, catering to the evolving needs of businesses."
He further elaborated on Mana's future plans: "In response to these trends, Mana Projects is launching a series of eco-friendly, tech-integrated residential complexes over the next five years. We're also exploring mixed-use developments that blend residential, commercial, and recreational spaces, creating self-sustained micro-communities within the city."
The second session, "Expert Insights," focused on the Indian Economy and Equity Market Outlook. J Sudheer Kumar, Head of Marketing at Mana Projects Pvt Ltd, presented an optimistic view of the real estate market's role in India's economic growth.
"The real estate sector contributes approximately 7% to India's GDP, and we expect this to grow to 10% by 2030," Mr. Sudheer Kumar stated. "Bengaluru, in particular, is poised to lead this growth with its robust infrastructure development and increasing foreign investments in commercial real estate."
He went on to highlight specific trends: "We're seeing a surge in demand for larger homes, driven by the work-from-home culture. There's also a growing interest in integrated townships that offer a live-work-play environment. In the luxury segment, we've observed a 30% increase in demand for homes with smart automation and sustainable features."
He also touched upon the impact of technology on the real estate sector: "Digital technologies are revolutionizing how we design, construct, and sell properties. At Mana, we've embraced virtual reality for property tours, AI for predictive maintenance, and implemented secure, transparent transactions. These innovations are not just enhancing efficiency but also improving the overall customer experience."
Gorakh Jhunjhunwala, Managing Director of Meraqi, provided a comprehensive analysis of the equity markets, stating, "Despite global economic challenges, India's equity markets show promise. Sectors like technology, healthcare, and sustainable energy are particularly attractive to investors."
The event concluded with a Vote of Thanks by Ramesh M, Business Head, Home Loans at HDFC BANK followed by networking dinner, allowing attendees to forge new connections and discuss the insights gained from the sessions. The dinner also featured an exclusive showcase of Mana’s ongoing projects.
D. Kishore Reddy commented on the success of the event: "Spectrum has exceeded our expectations in facilitating meaningful dialogues on crucial economic and real estate topics. The insights shared here will undoubtedly shape strategies for many in the industry. We at Mana Projects are committed to leading the charge in sustainable and innovative real estate development in Bengaluru."
