A brief journey of Casa Grand in becoming prominent developer in South India
Casa Grand was established in 2004 with a commitment to deliver superior living spaces. We are pioneer in doing smart villas and we are known as the Chennai’s largest developer with a market share of 8%. We also have bigger land parcels from L&T and Rane. Apart from that we claim to deliver projects on time. Over the last decade the company has established a very strong footing in Southern India with projects worth Rs 6500 crore in the pipeline. Headquartered in Chennai, Casa Grand is primarily focused on residential projects and has completed over 48 residential projects covering about 9 million sq. feet area. The company currently has ongoing real estate projects aggregating to 4,961,482 sq. feet. The company has a real estate presence in 3 cities, viz. Chennai, Coimbatore and Bangalore.
CasaGrand has diversified units, tell me something about it
Our vision is to provide end-to-end solutions across the real estate spectrum. As a part of our strong desire for diversified units within our realm, we have floated DoMyHome- a complete solutions for all the interiors, CasaGrand Prop Care- a facilities management unit and CasaGrand Distripark – Warehousing and industrial parks.
Casa Grande is now CasaGrand, what is with the change in the logo of Casa Grande?
The brand underwent a complete brand transformation to re-emphasize its belief in providing to its customers, a contemporary new age home with smart functional spaces. The bold arrow head pointed upwards depicts growth and prosperity. The logo also has a door embedded in it which symbolizes the many opportunities that the company will receive as it grows.
What makes CasaGrand the true leader in realty?
The company has a decade’s experience in building dreams and aspirations across 68 landmark properties which is a testimony of its commitment of providing superior living spaces. Casa Grand’s quality, continuous innovation, timely deliverables, integrity and fairness are the key factors which makes it a trusted brand in this real estate sector
Corporate Social Responsibility- How much does it mean to CasaGrand.
As a responsible citizen, Casa Grand’s CSR activities encompass areas of education. Recently, the company was also a part of “India Clean Sweep” – a campaign which endeavoured to clean polluted lakes and beaches across major cities such as Chennai, Bengaluru and Coimbatore. Tree of joy is also a CSR initiative by CasaGrand in association with Fever FM to bring back the old glory of Chennai taken away by Cyclone Vardah. CasaGrand will plant over 4000 trees as a responsible builder that stands for better living with utmost care and concern towards nature.
There are a lot of debates over GST and its impact on real estate, what is your take on it?
The inception of Goods and Services Tax (GST) is expected to bring major reforms to the earlier tax liabilities for the home buyers. The implementation of GST has put an end to the earlier cascading taxation structure, influencing India’s economic outlook positively. GST is expected to simplify the ambiguity around the taxation system, alleviating foreign direct investment, amplifying the ease of doing business and augmenting the Indian economy. The draft GST bill which was passed recently witnessed the sector foreseeing a fresh wave of liberation from the existing multiple taxation practices which account for indirect taxes and negligible uniformity. The draft GST bill which was passed recently witnessed the sector foreseeing a fresh wave of liberation from the existing multiple taxation practices which account for indirect taxes and negligible uniformity.
- The real estate sector welcomes a single unwavering 12 per cent GST rate, inclusive of the value of land and with complete input tax credits. However, the constructive outcome of GST will only yield significant results within 2-3 years of its implementation
- GST is also expected to favor projects under affordable housing scheme as there will be no tax liability for projects encapsulated under the same
- From a developer’s standpoint, the realization of GST will favour them by reducing the construction cost. The availability of input credits would result in an overall neutral tax incidence for construction services. Under the new GST regime, there is credit available for input taxes paid; which will counter-balance the existing higher GST rates on input credits. Tax projection on raw materials is also set to minimize, as this will help the developers aim for improved margins.
Has Real Estate Regulation Act (RERA) contributed to the changing scenario of Real Estate?
Implementation of RERA (Real Estate Regulatory Act), will further strengthen consumer confidence and ensure transparency in the sector. RERA will further aid government’s current schemes by helping work its way towards the ambitious Housing for All project. The incentives formulated to benefit both the developers and buyers will make the home buying process hassle free, and also boost the realty sector. With the commencement of RERA and GST, the real estate division is set to scale newer heights as the move will have positive implications on the sector.
How IT layoffs and downsize impact on Residential Real Estate in IT hubs?
IT layoff and downsize are matters of concern for the real estate particularly residential real estate. However, it is a momentary trend. At ground level IT sector is consistently producing jobs which will ensure that people have cash flow and look forward to buy homes. Reduction in home interests will further enhance home buying among consumers. Cities like Bangalore, Hyderabad and Chennai are at the epicenter of development and we are extremely optimistic about the growth in these cities.
Affordable housing seems to be the term of real estate now, what is Casa Grand’s definition to it?
The Government’s scheme of housing by all 2022, gave us a reason to smile and therefore, the conferring of industry status to affordable housing was hailed by Indian realty as a step towards the right direction. Affordable housing requires careful planning and rollout, realistic phases of implementation and incentives given to establish realtors to realize this mission.
Where do you see Casa Grande after 10 years?
The company has evolved and looks forward to establish itself as one of the leading developers in the country and wants to be the top three real estate players in South India. The company is all set to take the leap with projects in pipeline netting over 3000crores. By 2019, the company would want to achieve 3000 cr turnover. As far as the long term goal is concerned, the company has a strong desire to expand its business overseas.
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