Regency Group Mahesh Agarwal, Date of birth: 26 June 1959, Designation: Founder cum Chairman By Pooja Biraia According to Mahesh Agarwal, We do not sell dreams; we sell reality. We want the customer to see for themselves in brick and mortar, all that which would be available to them. This is what sets us apart from the rest.” says the 53 years old, who came down to Mumbai in 1977 from his hometown in Rajasthan, eventually making his foray into a series of business ventures, the first of which was of Timber retail and distribution, followed by a plywood factories, a chemical manufacturing plant, a steel plant in Wada, pioneering into privatisation of revenue collection, Buildings and Infrastructures through our company “Konark Infrastructure Ltd.”, before full fledgedly settling into the real estate business in 2001, under the banner of the Regency Group. “My first project was in Pune, called, ‘Flower Valley’, which is now a landmark in Pune. At that time the real estate market was going through a dull and lacklustre phase, yet this project was a huge success, because we offered our customers value for their money, at Rs 1250 psf.,” he says. It was after few more landmark projects, namely Green valley at Pune, Regency Garden at Kharghar, Regency Estate at Dombivli and Regency Tower at Thane that he was convinced to remain in the industry for good. “I decided to carry on in the real estate business partly because of the relatively high demand for Quality Housing Requirement and also partly because of the government scheme prevalent at that time which exempted the housing industry from taxes upon fulfilment of certain conditions. Now the situation is different there are various taxes you have to pay and strict environmental sanctions you have to comply to.” Although thankful to the government for providing the impetus for development in the early years, Agarwal is rueful of the bureaucratic entanglement of sanctions and approvals presently prevalent. “If anything, the government must cut down the time taken for obtaining approvals and clearances. Because the ultimate burden of this delay, that is, the rise in the interest cost of the land is passed onto the customer.” One of the inviolable principles at the Regency Group is that the booking for its properties is opened to the public only upon completion of at least 70% of the project, and not on a promise based upon vague layouts and design cut‐outs. This, he maintains, over several decades of business has become one of the group’s strongest USPs. “We open the bookings only upon completion of 2/3rd of the project and only after each and every requirement put forward by the government is met. “ Agrawal is firm in his belief that the Central Suburbs i.e. Badlapur and Titwala are presently best for the affordable homes. The demand is only set to grow further in these suburbs because of low rates. And it is this quest that has brought the buyers to these areas, which though are far from the city but fit their budgets.” Nonetheless, he is convinced it will not skew the affordability equation for the buyers. “I don’t foresee any major fluctuations in the cost of homes in the coming years; the prices will be stable for a some period now. Upside will be limited to 12 to 18% because the labour cost and material cost will rise in any case. So, of the total 40 lakh sq ft developed by the group in the Thane district and beyond, which one does he consider to be his flagship project? “I look forward to the 67 acre ongoing project in Titwala for which, we plan to build about three thousand 1BHK and 2BHK affordable flats, the CRZ (coastal zone regulation) for this project is about 30 acres, which would be converted into gardens and open spaces. Apart from that, the next project most close to my heart is the ‘Regency Palms’ on Palm Beach Road, Navi Mumbai proposed to be constructed on an area of 17,000 sq mtr, and is provided with a swimming pool for every apartment, there is only one flat per floor. The amenities will also include among others, such as high class club house, huge podium level garden. The bookings for this project are yet to open for the public.” When we asked Mr. Mahesh Agarwal what is the success mantra of this growing business, he replied, “We believe that success comes from our customers, People trust my company because we deliver on time with highest level of quality, most modern infrastructure and we have always given customers more than what they expect and also exceptional after sales service. “ I now, want to know what are Agarwal’s future plans for his company? “We have more then 1 crore sq.ft. of land under development in central suburb as well in Panvel, Khopoli and Pune as of now,” says the doting father, whose only daughter has completed MBBS studies. Agarwal, loves reading spiritual books, when he isn’t working, which though, is quite rare, given that he dedicates over fourteen hours to work every day. “but I don’t feel the stress of it, as work is in my nature and I love doing what I do.” Mr. Agarwal holding key positions in various social institutions, Schools, Colleges. Taking Leadership role as chairman of Konark Urban Co‐op Bank ltd., Chairman and Trustee of M.S. Khairari Charitable Trust, Navchetna Charitable trust, Konark Foundation & Konark Ideal College. He was awarded by Bhamasah Puruskar by Govt. of Rajasthan. Boxes: About the company: Principles I live by: Hardwork, commitment, quality, dedication, integrity and honesty. On‐going Projects: Regency Sarvam, Titwala (E): Falgship project, replete with amenities such as aprox 75,000 sq ft club house, bubbler fountains at the entrance, swimming pools, amphitheatre, mini golf course, indoor badminton court, lawn tennis and basketball courts with pavilion sittings, solar connection in each flat, designer doors with fancy fittings, among others. Regency Crest, Regency Icon at Kharghar , Regecny Palm at Navi Mumbai Regency Heights at Brahamand Thane ‐ Regency Classic at Baner, Regency Roseland at Talegaon at Pune, Regency Villows at Lonavala – Esteem Bungalows for high profile peoples. Completed Projects Group is Known For: Flower Valley, Green Valley, Regency Cosmos, Regency Meadows at Pune Regency Towers at Thane, Regency Gardens at Kharghar, Regency Estate at Dombivli [E] Resident Speak: Mr. Nilesh Thakkar (9324798488), Flat No. 904, bldg. No. 7, Regency Estate. “I am more than satisfied with the builders services and quality. Such a Great Project with high‐end amenities.” My wishlist: “if anything, the government must cut down the time taken for obtaining approvals and clearances. Because the ultimate burden of this delay, that is, the rise in the interest cost of the land is passed onto the customer.” When I’m not working: I read books on spirituality and philosophy, and I travel.