Tuesday, February 11, 2014

Turning The Realty on Trust and Transparency

Mr. Tarun Shienh (CMD Premia Group & The Real Estate Guru) has become a renowned name in the Indian Realty sector of today. With innovative ideas like the Premia Corporate City, he has captured the imagination of the young and aspiring investors. A one-on-one with the man reveals that he has much more to offer than just the investment avenues we see today. His thoughts run much deeper than the mere prospect of making profits. He has envisioned changing the realty sector in the Indian scenario and is set out to make these changes armed with all the knowledge and expertise he has amassed in the years gone by. Here, we present excerpts from the parley with the “Real Estate Guru”, Tarun Sheinh, revealing his secret armour (read visions and innovative ideas) and how he came to be, what he feels the future has in store for the industry and his organization and how he plans to leverage on his abundant experience. All this and much more…
Q. The beginnings are always humbler than the conclusions. Has this been the case with you?
A.Yes, I absolutely agree. The beginning has seen me starting as a humble financier. But the most significant thing in taking you to the top rung is build up on the experience and stay sharp at all times. The corporate world, with all its fierceness, needs you to be constantly on your toes and thinking on your feet is immensely crucial. And that is what I have been able to do throughout my career. I have always kept my mind on the more important things like client satisfaction and interest and this has paid off well for me in the long run.
Q. Could you share your journey till now with us to give our readers a better understanding of how you got to the present pedestal?
A.I am an MBA with a Post-graduate degree in Financial Management and have spent almost 18 years in the Finance sector and worked with several big guns of the industry like HDFC, Max, and Allianz etc. I have headed the investment products for HDFC for entire north for a long period of time. Apart from this, I have held positions like branch and region head for Insurance organizations such as Max and Allianz. Now, I have ventured into the Realty Sector, hitherto unexplored by me personally. Though I had always followed the real estate developments, I hadn’t served with a realty organization before. I have also been associated with some other real estate organizations and worked towards driving them to excellence.
Q.  Your outstanding career speaks volumes about you, as a prolific expert and as a strategist. How did you manage to leverage these qualities in your company, Premia?
It was during my term in the financial world that I understood the needs of customers while investing. I saw a great potential in the real estate sector as there was a lack of organized corporations as per the clients’ perceptions. This was the gap I saw and focused my energies on. I envisioned an organization that gives its clients a wholesome service experience, an experience that leaves an impact on their minds. The vision is to have a symbiotic relationship with my clients, wherein my investors see their money grow and I, in turn, benefit from the lasting relation that I build with the clients in the process.
Q. For achieving this position, you must have faced some bumps along the road. How did you cope with them and turn those hurdles into stepping stones?
I have always been blessed with a keen insight and a fighting spirit. These are the very things that helped me along the way. It is almost impossible to have a career as a long as I have had and not step into some potholes. But the most important thing is to stand up again, dust yourself off and start building on your strengths. One has got to have a positive attitude at all times and to come out on top of situations every time requires a lot of grit and commitment. Execution is another important aspect that has to be given the due diligence. It is a combination of all these that has helped me survive the low tide.
Q. Who are your role models or inspirational forces who motivated you to achieve success in your life?
My biggest motivation has always been my work and my clients. It is towards them that I direct all my efforts and it has always been a source of inspiration for me. Apart from this, there have been numerous figures in my career and life that I have looked up to and got an impetus including my superiors at various points of times and a no. of colleagues.
Q. What’s your assessment of the prevailing economic environment? What are the bottlenecks and challenges for the real estate industry?
.I see the current economic environment to be under serious turmoil owing to the global economic slowdown. There has been a lot of industrial commotion that has resulted in the overall marketplace not responding as per the expectations. As far as the bottlenecks in the Real Estate industry are concerned, there are a lot of them. Regulatory policies and regulatory authorities have been less than supportive and there appears to be an impasse at times leading to loss for both the clients and the realtors. But as I see it, the biggest shortcoming is the absence of transparency with the client. This is something that will always help an organization in the longer scheme of things and must be present so as to build trust and to prosper.
Q. Last year has been a tough year for the Indian real estate sector, with developers' expectation of a sales revival turning out to be a pipe dream. Are you hoping for an improvement this year?
Well, hope is all we live for, right? Anyways, the real estate sector does seem to be on a revival stint and the market is starting to get a tad better. This, combined with certain policy changes that are on the cards, should see the Indian Real Estate through to better times. In any case, the kind of dedication and commitment we have shown towards our clients and the projects we are coming up with are sure to grab the clients’ attention and we would hopefully be on the track as the time goes by.
Q. Premia is bringing in luxury products in the housing segment. Kindly, share with us about the projects, their time line and base price.
Yes, we are bringing the clients a whole array of luxury products coupled with the ever-so-elusive affordability factor. An immaculate example is the “Premia Corporate City”- first of its kind in India. This city is one investment avenue that gives the investors a wide range of choices whilst still maintaining the costs to a level that make them a not so distant specter.
Q.  What’s your take on Premia’s overall business strategy? Will Premia be able to achieve an eminent position in the market?
.Premia’s primary business strategy is transparency to the customers. This is the theme that we have built our business around. This is, I think, the single most important component for a business strategy to be successful. Secondly, we believe in building relationships with our clients. It is on virtue of these relations that we hope to attain firm footing in our initial years. As for what Premia will be able to achieve, we, at Premia, certainly aspire it to transcend all our expectations and with the efforts everybody has been putting in, we most definitively are moving in the right direction.
Q. How do you see the residential and commercial realty shaping up? Do you see any emerging trend?
.Both the residential and commercial real estate projects are going to see a period of growth much higher than the current one; that is what I feel. With Indian economy gaining in strength and importance in the global market, it is expected that the real estate growth will be exponential as more and more MNCs and corporate giants set foot on Indian soil. Time will decide how long the growth continues for but right now, I see no ceiling to this.
Q. How much emphasis do you place on architectural excellence, innovative technologies and design in Premia projects?
.As an organization, we strive towards delivering nothing but the best to our investors. Having said that, I think the most crucial thing for us to do is to attain excellence in all walks of our field. We employ the best architectures around the world for designs of our structures. As far as innovation goes, we have overlooked no part and combined absolutely the most ingenious and one-of-a-kind technologies and designs to present the best outputs. I have always believed in the integrity of a being and this is the best way to make our familiar with ours.
Q. As always, customers look for products which give them value for their money. And they also have great expectations. What has been customers’’ response for projects being developed by Premia?
So far, the projects we have developed have been received well in the market. We have been able carve a niche for ourselves and are planning to stick to it by all means possible. The major reason for this is that we have presented the investors with exactly what they were looking for. We, as I mentioned earlier, have coupled luxury with affordability and on top of it, we have been able to build the clients’ trust in our organisation. Believe me; that is as potent a combination of factors as you will ever find and it has worked like a charm. We have been able to put together a healthy customer base.
Q. How does Tarun, as an expert in finance and one who knows the nitty-gritty of policies associated with it, sees the RBI’s policy initiatives like rate cuts in repo and CRR, taken on regular intervals?
.These are positive steps that help boost housing demand and encourage foreign investment in the sector. This also leads to a reduction in interest rates for buyers as well as builders and developers. These are small but necessary positive moves to boost investments as well as demand in the real estate sector. These growth oriented monetary measures combined with the government's fiscal measures augur well for the industry. These reductions in the CRR and Repo rate bring in some liquidity into the banking sector. These are positive moves and tend to reduce interest rates marginally, which generally helps the real estate industry.
Q. In his latest avatar as a realtor, Tarun Shienh is out to change the way Indian real estate works. Agreed??
.Yes, I am committed towards changing the outlook as well as the face of the Indian Real Estate arena. I have, in my stints in the financial sector, gathered that there are a host of shortcomings in real estate in India and I wish to see the things progressing in the right direction. Our industry is a customer-centric one and we have to prioritize the customers’ satisfaction and trust.
Q. What is the secret behind the unprecedented success you have achieved so far? Do you see yourself as a role model for young real estate entrepreneurs?
.There is no secret to whatever I have been able to accomplish. Whatever I have managed to actualize is because of the values I have been inculcated with. It is just that I built upon my experience and the knowledge in finance sector and have been able to execute whatever I planned with great success and precision. It is very important that one doesn’t forget the lessons learnt and doesn’t fail to execute the plans. That is all it takes to do things right. As for being a role model for entrepreneurs, I don’t know about that. But there is something I would like to propound; be true to your values and your clients and keep their best interests at the top of the priority list. This will help you grow to the highest level. And remember, there is nothing more important than a commitment made to a client.

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