Interview with Dr Mohit Ramsinghani, Chief of Sales and Head Distribution at Runwal, on India’s real estate sector

In an exclusive interview with DNA, Dr Mohit Ramsinghani, Chief of Sales and Head Distribution at Runwal in Mumbai, and the distinguished recipient of the Top 10 Chief Sales Officer award in 2022, shared his invaluable insights into the future of India's real estate sector. With his extensive expertise and track record in the industry, Dr. Ramsinghani provided keen observations on a variety of topics, including housing sales trends, investment advice for young individuals, the growth trajectory of the real estate market, and his noteworthy accomplishments.

Q1: Can you comment on the recent trends in housing sales in Mumbai FY – 2023 till date? Have we witnessed a decline or an incline in the market?

Dr Mohit Ramsinghani: Housing sales in Mumbai in FY 2023 so far have been very positive. These months have seen a mixed bag of patterns, with some places exhibiting a minor dip and others seeing an increase. The real estate market is naturally dynamic and influenced by a wide range of factors, making it resistant to sudden shifts.

The government's deliberate actions to enhance the industry have been a significant contributor to overall stability and growth in house sales. Steady stamp duty rates & additional benefits to women home buyers, regulatory improvements, and incentives for affordable housing have all played a role in ensuring a constant flow of demand.

Developers have also played an important role in responding to market realities. Prospective purchasers have been drawn in by innovations in project design, price structures, and the incorporation of sustainable features. Furthermore, the recent comeback of buyer confidence, fueled by economic recovery and pause in rate hike, has been critical in keeping the market's momentum going. There has been constant consumer demand keeping the absorption high. We predict that with the festive season coming, we will witness a more pronounced upward trend in the coming quarters.

Q2: What advice would you provide to young investors thinking about entering the real estate industry, especially given the recent uncertainties and challenges?

Dr Mohit Ramsinghani: Investing in real estate is a substantial commitment, and young investors should proceed with prudence and a well-planned strategy. First and foremost, undertake thorough research. Learn about the local market characteristics, property kinds, and historical performance in various localities. This study will assist you in making sound decisions. Second, broaden your investing portfolio. Real estate is only one asset type, and it is critical not to concentrate all of your resources on a single property or location. Diversification spreads risk.

Another critical step is to get advice from knowledgeable professionals. Consultation with real estate brokers, financial consultants, or property experts can provide vital insights and help you make informed decisions. Furthermore, always keep the long term in mind. Real estate investments frequently increase in value over time, and patience can be your best ally. Short-term market swings should not be used to make rash judgements.

Finally, be sure that your real estate investment is consistent with your overall financial strategy. Before making any substantial investment selections, consider your financial goals, risk tolerance, and cash flow requirements. In essence, a well-informed and diverse strategy, along with patience, can assist young investors in effectively navigating the real estate market.

Q3: How do you see the real estate sector in India growing in the coming years, and what are the primary drivers driving this growth?

Dr Mohit Ramsinghani: Several critical elements will influence the expansion of India's real estate sector in the next years. The first is urbanization, which is a significant driver. The urban population in India is rapidly expanding, creating a greater need for housing and infrastructure development in our cities Second, the government's emphasis on affordable housing will have a significant influence. With incentives for both developers and buyers, we should expect an increase in the development of more inexpensive dwellings, making housing more accessible to a larger part of the population.
Finally, economic growth is critical.

People will have more discretionary cash to invest in the real estate market as our economy continues to recover and expand. Also, technology adoption within the real estate sector will be transformative. Innovations like virtual tours, blockchain, and data analytics are enhancing transparency and efficiency, making property transactions smoother and more reliable.

Regulatory reforms are ongoing and will continue to improve transparency and boost investor confidence. Rural-urban migration is another dynamic to consider. The ongoing movement of people from rural to urban areas will create substantial demand for housing and commercial spaces within our cities. Lastly, foreign direct investment (FDI) in real estate will continue to attract international capital into the Indian market, further fueling growth.

Q4: Sustainability and environmentally friendly practices are becoming increasingly important in the real estate sector. What do you see as the future of eco-conscious real estate development in India?

Dr Mohit Ramsinghani: Sustainability is a core focus today for real estate development projects. We recognize the importance of building environmentally responsible and energy-efficient structures that not only benefit the environment but also provide long-term value to our customers.
Real Estate Developers are incorporating sustainable practices by adopting green building standards, energy-efficient designs, and the use of eco-friendly materials. Our commitment to sustainability extends to the landscaping of our developments, with the integration of green spaces and the preservation of natural habitats whenever possible.
In the future, eco-conscious real estate development in India is poised for significant growth. With increasing awareness about environmental issues and the benefits of sustainable living, there is a growing demand for green and energy-efficient homes. Developers will continue to focus on incorporating renewable energy sources, efficient waste management systems, and water-saving technologies into their projects.

Q5: In your career journey, what has been the most significant milestone or achievement that you are particularly proud of?

Dr Mohit Ramsinghani: I'm incredibly humbled and honored to share some of my achievements over the past year. In 2022, I was recognized as one of the Top 10 Chief Sales Officers, an accomplishment that highlights the dedication and hard work of my team.

Additionally, receiving the prestigious 40 under 40 Award for both 2022 and 2023 has been a true testament to the impact we've made in our industry. Being named the Thought Leader of the Year, as well as receiving the ET Now Most Enterprising CXO and CSMO of the Year awards in 2022 has been a career milestone. As a Management Graduate from IIM Ahmedabad and holding a Doctorate in Strategy, I remain committed to driving excellence in my field.

Providing people with the opportunity to own their dream homes is a deeply rewarding experience. It goes beyond business success; it's about fulfilling aspirations, creating communities, and fostering a sense of belonging. Knowing that our projects have become homes to many and have played a role in shaping the future of families is a source of immense satisfaction and motivation for me.

I am also proud of the collaborative and innovative approach we've adopted at Runwal, which has allowed us to stay at the forefront of the real estate industry. Our commitment to excellence and continuous improvement has been instrumental in achieving this milestone and will continue to drive our future endeavours. In conclusion, the journey has been filled with challenges and opportunities, but each step has contributed to our growth, and I look forward to more milestones and achievements in the exciting world of real estate.